Oklahoma’s state slogan translates to “Labour Conquers All Things,” and running your own small business can do a lot for you. But there are steps you should take to further your potential success down the road.
If you’re a business owner, you may need an Oklahoma state business license.
In this article, we’ll review whether or not you’re likely to need to get your license, how to get your Oklahoma business license, how much it may cost, how it’s related to your business insurance, and more.
Ready to learn what to do to set yourself up for success?
Let’s do it!
Do I Need an Oklahoma Business License?
The state doesn’t issue a general Oklahoma business license to all small business owners, but depending on the type of work you do, you may need to get a business license and some type of permit.
We’ll get to the process of getting your Oklahoma license in a bit (you can check if your profession requires one here). Even if you find that your profession doesn’t require a state license, there are still many benefits of applying for one. Having an Oklahoma state license may help you:
- Gain the trust of potential customers
- Fulfill requirements of landlords and/or vendors
- Get access to loans, grants, or other funding
- And more!
So now that you know it’s a smart decision to get an Oklahoma business license, we’ll look at the steps you’ll take to move forward.
WHAT CITIES AND REGIONS ARE SEEING THE BIGGEST BOOM IN NEW BUSINESS APPLICATIONS?
How to Get a Business License in Oklahoma
1. Get your Employer Identification Number (EIN).
Most business types will require an Employee Identification Number, or EIN, before registering for a Oklahoma business license. You can apply for your EIN with the IRS here.
2. Create an account on OK.gov.
You’ll need an account on OK.gov to register for your new business license and later on to renew your license, so it’s best to get started now! Follow the steps prompted on this page to create an account.
Here is information you may want to have on hand before creating your account so that you can move through the process a bit faster:
- Your name and address
- Your business name and address
- Your business’s DBA (doing business as), if applicable
- Your EIN and/or SSN
- Your Certificate of Insurance (COI), if required
- Any relevant tax documents
- A current business plan
3. Apply for a surety bond.
The state of Oklahoma requires many small business owners to get a $1,000 surety bond, which typically costs around $100, before applying for a business license.
4. Pay for and display your Oklahoma business license.
Part of the registration process for your business license is paying for the license. In Oklahoma City, the current cost of a business license (as of the date of this posting and excluding the surety bond) is $30. In other cities around the state, the price may differ, so we suggest checking with your local municipal government.
Once you’ve paid for your Oklahoma state business license, you’ll receive a printed license. If your business has a physical location, make sure to display the license where your customers can easily see it. If you don’t have a physical location, you can look into placing proof of both your business license and your business insurance on your company’s website.
5. Check to see if you need a professional license.
In the state of Oklahoma, a business license is different from a professional license. Depending on the type of business you operate, you also may need a separate professional license.
You can see a compilation of popular requirements by industry here and a list of specific professions that require an Oklahoma state license here.
If you don’t see your profession listed in either of the above locations and still have questions around whether or not you’ll need a license to operate your business, you can call the Development Services’ Licensing Division at 405-297-2606.
Each city has a slightly different process for applying for your Oklahoma business license. Here are some of the starting points for Oklahoma’s more popular cities:
How Much Does an Oklahoma State Business License Cost?
We mentioned earlier that there are a couple different costs that go into getting your state of Oklahoma business license.
The first is the cost of a surety bond, if you are required to have one based on your profession, to get while registering for your Oklahoma business license.
The second is the cost of the license itself, which may vary. For instance, currently an Oklahoma City business license costs $30, but a license in a different city (like Tulsa or Edmond) may be a different amount. Consult with your local municipality’s website to check for the current fee.
Applying for an OK Business License?
You may need to show proof of business insurance to get your license.
That’s where we come in. Compare insurance quotes today.
Oklahoma Business License + Insurance Requirements
You may not need business insurance to operate your Oklahoma small business, but depending on your profession, the state may require you to have liability insurance coverage.
Regardless of whether or not the state requires you to have business insurance, we still suggest considering coverage. Having either a general liability insurance policy, a professional liability insurance policy, and workers compensation, can protect your business in a big way.
Securing coverage for your small business has various benefits, and it can help you to:
- Protect yourself against third-party accidents, property damage, personal injury, and more
- Secure trust with potential customers
- Fulfill obligations set by landlords or vendors
- Rent additional space for your business
- Get loans, grants, or other financial assistance
- And more!
It’s understandable that you may not know how a business insurance policy could impact you, but we’re here to help. You can use our free quote comparison tool to see what your coverage could look like.
Getting Your Oklahoma Business License is the First Step
There’s no question that our journeys as small business owners are long — but isn’t it exciting? By now, you should feel confident about applying for your license, as well as looking into getting insurance. There are so many ways to secure your business from the get-go, and we hope this was helpful. Getting your Oklahoma state business license is just the first step on your path toward growing your business successfully. Congratulations!