How To Start A Business In Colorado (2022 Guide) – Forbes Advisor

Don’t overlook insurance when starting your business. It may not always be required, but consider the liability and what a claim could cost you. Without insurance, many new businesses go bankrupt because they are unable to absorb unexpected losses.

There are times when you may be required to get insurance. For example, when you lease a property, the lease terms will likely require you to get liability insurance. Also, you will need to get workers’ compensation insurance if you have one or more employees.

Bottom Line

As you can see, a lot needs to be done when starting a Colorado business. Take the time to get through each step and make sure that you have properly formed your business entity, gotten the EIN and established bank accounts for the company. When in doubt, consult a legal expert or Small Business Association (SBA) adviser to help you so that you comply with state and federal laws.

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