StartING a Business

You have your business concept, but is it commercially viable?  Understanding your position in the marketplace is a key step in establishing a profitable business.  The U.S. Small Business Administration (U.S. SBA) is a great resource for understanding all the factors to consider in your market analysis.  Learn more.

Business Plan- You’ve done your research and you’re confident you have a product or service that’s in demand and that you can be profitable.  The next step for any business is a professional Business Plan.  Without question, this is the most important step for any new business.  It’s your guide forward and it’s the first thing that bankers and other financial institutions will want to see before considering loaning money.  The good news is that the Laurel Ridge Small Business Development Center (SBDC) is an excellent partner for helping you through this process!   Learn more.

Financing- With your Business Plan in hand, financing may be the next logical step in the journey to an open business.  In addition to the federal resources, check out the state and local financing resources available to your business.  Fauquier County also has a robust microloan program that has assisted many small businesses. The Laurel Ridge SBDC can also help you prepare your loan application.

Workforce and Education- Knowledge is market power. Offering online entrepreneurial courses and personalized business coaching, local business resources are value driven.  The Laurel Ridge SBDC offers training and business counseling that is a benefit to every start up and entrepreneur.  To take advantage of this great resource, click here.

For specific workforce training needs, whether it’s skilled trades, healthcare, or corporate leadership training, Laurel Ridge Community College is ready to help!  To learn more about the great resources they offer, click here.

Choosing the right structure benefits your business from the start.  You can talk with the Laurel Ridge SBDC or consult with an attorney or a tax professional to establish the structure best suited for your business.  Learn more.

Fauquier County has eight Service Districts.  These are areas designed to accommodate higher densities of commercial and industrial growth, centered around our towns and villages.  Once you’ve reached the stage of considering a location for your business, it is crucial that you meet with our Community Development Department to ensure that your business is compatible with any building or property you’re considering.  We can arrange a meeting with the right people in Community Development to ensure that your business complies with Fauquier County codes and ordinances.  To learn more, please visit our Community Development’s website here.

For those opening a business in the Town of Warrenton, The Plains or Remington, you must follow their permitting and licensing requirements.  Please follow the links below to learn about your requirements and responsibilities when opening a business in one of our three municipalities.”

Start a Business in The Town of Warrenton, Virginia

Start a Business in The Town of The Plains, Virginia

Start a Business in The Town of Remington

All businesses must be properly registered with Fauquier County, the Commonwealth of Virginia and the IRS!  Fauquier County’s licensing, zoning, and permitting resources provide a clear framework for establishing a business.

If you are an LLC or Corporation you must also register with the Virginia SCC (State Corporation Commission) 

Learn more about registering in Virginia and Fauquier County tax forms.

• Note that you must renew your local and state business license every year.
• Note if you are a sole proprietor, you do not have to register with the state of Virginia, you do not need to have a FEIN number, and you do not have to do BOI reporting.

When you purchase a business license from the county you will be set up to be billed for taxes.  Just like personal property taxes, businesses also pay taxes on business assets once a year.  Check with the Fauquier County Commissioner of Revenue office for more information on when you will be billed.

If your business sells goods or taxable services, you will need to register for a sales tax permit in your state to collect and remit sales tax.

You will need to register with the Virginia Department of Taxation for state taxes.

If you have an LLC or Corporation you must also register for an FEIN number with the IRS. This is a separate ID number for your business for your federal taxation.

If you are an owner/member of an LLC, you must also report your BOI information with the Treasury Department.  You have 90 days from starting your LLC to do this in 2024.  Starting 1/1/25 if you start an LLC, you have 30 days to report to avoid fines of $600/day up to a maximum of $10,000.

Business insurance protects your property, assets, and workforce. Liability, workers compensation insurance, and unemployment insurance are some of the protections to consider. Learn more.

If you hire employees, you’ll also need to register for local employment taxes and unemployment insurance taxes. The Virginia Employment Commission details the requirements. Learn more.