Business Resources

This checklist is designed to guide you through setting up your new business from the ground up, ensuring essential government compliance and legally required financial reporting systems are covered. Also includes tips to implement early to maximize efficiency and minimize costs. 

1. Define Your Business Model and Mission
   • Establish a clear vision and purpose for your business
2. Develop Your Brand Personality
   • Choose a logo, color and fonts aligned with your brand personality to ensure consistency and avoid rebranding later.
   • For DIY branding, consider using Canva, a versatile, free resource
3. Calculate Start-Up Costs
   • Assess how much money you'll need to launch your business
   • Explore funding options as needed and contact an accountant for guidance
4. Select Your Business Entity
   • Choose the appropriate structure (LLC, Partnership, S-Corp, C-Corp, etc.).
   • Contact your accountant for assistance in understanding compliance and administrative requirements.
5. Register Your Business Name
   • Search for name availability on the Colorado Secretary of State's Website.
   • File the required paperwork (e.g., Articles of Organization for LLCs or Articles of Incorporation for Corporations).
   • Opt to save your email for annual reminders about filing periodic reports. Missed deadlines incur additional fees. 
6. Obtain an EIN
   • Secure a Tax ID number (EIN) from the IRS.
7. Set Up for Federal Tax Payments
   • Enroll in the Electronic Federal Tax Payment System (EFTPS) for easy federal tax payments.
8. Open Business Banking Accounts
   • Use your business name and Tax ID number to open a checking account and, optionally, a credit card.
   • Keep personal and business finances separate to save time and money.
9. Secure Business Insurance
   • Consult with an insurance agent to explore coverage options. Click here for Eagle Chamber Member Insurance Agents.
   • Obtain Workers' Compensation Insurance if hiring employees.
10. Research Local Licenses and Taxes
    • Check with your city or town about local licensing and tax requirements - for Eagle click here
    • Confirm if your industry requires state licensure.
11. Register for a Sales Tax License (if applicable)
    • Set up an account with the Colorado Department of Revenue to collect and remit sales tax and other applicable taxes.
12. Set Up Payroll
    • Register to pay Colorado withholding taxes with the Colorado Department of Revenue if hiring employees
    • Choose a payroll processor like Gusto or consider after-the-fact payroll for single-member LLCs or single-shareholder S-Corps. Contact your accountant for advice.
13. File the Beneficial Ownership Information Report
    • Submit your report at BOI Filing.
14. Organize Your Bookkeeping System
    • Track income, expenses and tax deductions using a spreadsheet, QuickBooks, or other software.
    • Contact your accountant to discuss accounting software options for your business
    • Consider hiring a professional for bookkeeping if needed.
15. Learn About Deductible Business Expenses
    • Familiarize yourself with IRS-approved expenses via IRS Publication 535. 
    • Alternatively, consult books like J.K. Lasser's 1001 Deductions and Tax Breaks 2024 or 475 Tax Deductions for Small Businesses by Bernard B. Kamoroff. 
16. Contractor Compliance
    • Always have contractors complete page 1 of a W-9 Form to simplify issuing 1099s later. 
17. Monitor Your Bottom Line
    • Regularly review Profit & Loss reports if using bookkeeping software. 
    • This helps with tax preparation and informs your business decisions.
18. Hire an Accountant
    • Find an accountant before tax season if you're uncertain about filing business taxes. 

If you need help with any items on this checklist, contact the Eagle Chamber at (970) 306-2262 or info@eaglechamber.co.

Additional New Business Checklists:

Northwest Small Business Development Center's Colorado Business Resource Book.

Colorado Secretary of State's Checklist for New Businesses

Whether starting a new business or growing your business, financing your move is critically important. The below organizations help inspire people create thriving businesses with funding, education and resources. You may qualify for a loan or fund for that long list of needs for your new or growing business. Click on the organizations below to explore funding resources.

For help in starting or growing your small business, we recommend the NorthWest Colorado Small Business Development Center, which offers no-cost business advising, affordable training and funding support.

Their free video series is excellent.

At no charge, you can meet with a business consultant who understands your situation and can devise an action plan to progress your business. Areas of consulting can include: business plan development, marketing strategy, registration and licensing, start-up and financing preparation. Consulting is free, confidential, and tailored to your business.

Regional office:                                                                              
500 Broadway, Eagle CO 81631
(970) 328-3414

info@northwestsbdc.org

Colorado Business Resource Book

Register for Advising Here

Exit Planning

Webinar Calendar

On-Demand Library

Seminarios Web Grabados en Espanol

Click on the logos below for Eagle County Housing Resources:

Town of Eagle Digital Dashboard: Business Insights

The purpose of the Town of Eagle's interactive online dashboard is to facilitate access to meaningful data, aiding decision-making for town staff and stakeholders. It provides access to carious data sources, including sales tax, employment and wages, building permits, and cell phone mobility data, which tracks visitor origins and commuting patterns. With input from Town of Eagle staff, key indicator metrics have been identified for each data set. These indicators are viewable on an annual or quarterly basis, and users may compare data from a specific quarter or year against any historical period dating back to 2014.

All data sources have been cleaned and formatted to enable straightforward updates. While all data sources are available with quarterly details, updates may not occur every quarter. 

For additional instructions on using the dashboard, click "Take a Tour". To proceed to the dashboard, click "View the Dashboard". 

Note: Discrepancies or inaccuracies may occur. We recommend verifying critical information independently.

View the Dashboard here

Town of Eagle Land Use and Development Code

The Town of Eagle has undergone a comprehensive update to the Land Use and Development Code (zoning and subdivision regulations) which implemented the goals and policies of the Elevate Eagle Comprehensive Plan (Amended 2021). On August 8, 2023, Eagle Town Council approved the Comprehensive Plan and Development Code Update which became effective on October 23, 2023. 

View Town of Eagle's Land Use and Development Code

Town of Eagle Economic Development Plan 2023

This Economic Development Plan was prepared for the Town of Eagle and Eagle Economic Vitality Committee to guide the Town's economic development programs, policies and allocation of resources for the next 5-10 years.

View Town of Eagle's 2023 Economic Development Plan