Starting a Business?

Small Business Start-Up Guide:
A Guide to Starting a Business in Breckinridge County, KY



BCU Economic Development
525 Old Highway 60
P.O. Box 206
Hardinsburg, KY 40143
Phone: 270.580.4400
Fax: 270.215.1220
Email: Jonathan.Boyd@bcuky.com


Where to Go For Help in Starting Your Business

One of the first steps in starting a new business is adequate research and planning. Listed below are several resources to help you get started in the right direction. The Kentucky Small Business Development Center in Elizabethtown can help point you in the right direction to start your business.

Patricia Krausman, Director
Small Business Development Center
University of Kentucky
1105 Juliana Court, #6
Elizabethtown, KY  42701
Phone:   270.765.6737
Fax:    270.769.5095
http://www.ksbdc.org/locations/elizabethtown/


The Kentucky Cabinet for Economic Development's Small Business Services Division can help you find the right resources to start and grow your business. For assistance you can call (800) 626-2250 or visit http://www.thinkkentucky.com/sbsd. In addition, the Entrepreneur Resource Navigator,  http://www.thinkkentucky.com/smbd/ern/ernmain.aspx, can help you identify organizations serving your particular area.


Having a Business Plan


A sound business plan is an integral part in starting a business.  By creating a sound plan, it allows you to see the strengths and weaknesses of your business before it is officially started.  Sample business plans are available through many resources including: The Kentucky Cabinet for Economic Development Small Business Division at http://www.thinkkentucky.com/SMBD/BusinessPlanOutline.aspx


Decide what type of business organization you would like to create.


Kentucky Secretary of State: http://sos.ky.gov

All businesses must obtain a business license from the City regardless of organization. However, not all businesses must register with the State. Please consult with your accountant or legal counsel to determine which form fits your needs.

Sole Proprietorship

A sole proprietorship is owned and operated by an individual. It does not have a separate existence apart from its owner.  No filing with the Secretary of State is necessary to form a sole proprietorship, but if the sole proprietorship is operating under assumed name, an assumed name filing with the county clerk is required. The individual owner is personally responsible for the debts of the business.

Corporation

A corporation is a business organization that is separate and apart from its owners. A corporation has the same powers as an individual to do all things necessary to carry out its business. A board of directors manages the corporation and officers are responsible for the daily operations of the corporation. Shareholders are not personally responsible for the debts of the corporation. A corporation is formed by filing Articles of Incorporation with the Kentucky Office of the Secretary of State.

General Partnership

A general partnership is an association of two or more persons to carry on as co-owners of a business for profit. KRS 362-175. No filing with the Secretary of State is necessary to form a general partnership, but if the general partnership is doing business under an assumed name, an assumed name filing is required with the Secretary of State and county clerk. An Application for Certificate of Assumed Name is available on the Kentucky Secretary of State website (sos.ky.gov). Generally, every partner is an agent of the partnership and is personally responsible for the debts of the partnership. KRS 362.190; KRS 362.220.

Limited Partnership

A limited partnership is an association of two or more persons with one or more limited partners and one or more general partners. KRS 362.401 (7). Limited partners are not personally responsible for the debts of the limited partnership unless they participate in management of the partnership.  KRS 362.437.  General partners are responsible for managing the business of the partnership and are personally responsible for the debts of the partnership. KRS 632.447. A limited partnership is formed by filing a Certificate of Limited Partnership with the Secretary of State. KRS 362.415.  More information on forming a limited partnership is available on the Kentucky Secretary of State website (sos.ky.gov).

Limited Liability Company

A limited liability company is an unincorporated business organization formed by filing Articles of Organization with the Secretary of State. A limited liability company may be managed by members or managers. The members and managers are not personally responsible for debts of the limited liability company. The main advantage to choosing a limited liability company over a corporation is that LLC members enjoy limited liability but the entity can be taxed as a partnership, which is a more favorable tax treatment.

Registered Limited Liability Partnership

A registered limited liability partnership is a partnership that is registered with the Secretary of State. KRS 362.555. Each partner is personally responsible for the debts of the partnership except for the debts of the partnership arising from negligence or misconduct committed by another partner while the partnership is a registered limited liability partnership.  KRS 362.220 (2). A registered limited liability partnership is formed by filing a Statement of Registration with the Secretary of State. KRS 362.555. More information on registering as a limited liability partnership is available on the Kentucky Secretary of State website (sos.ky.gov).


Business licenses, taxes and permits

Federal

Determine if you must file for a Federal Employment Identification Number (EIN).

In most cases this number can be obtained online via the IRS website (www.irs.gov).
Additionally, if you provide health insurance for your employees, you may need a National Standard Employer Identifier (NSEI) for your electronic health transactions. To determine if you need an NSEI, refer to the Department of Health and Human Services' website (http://aspe.hhs.gov/admnsimp/faqemp.htm).

Additional information for starting a business and complying with Federal regulations may be found in the IRS publication, Checklist for Going Into Business, and can be obtained at http://www.sba.gov/library/pubs/mp-12.pdf


State of Kentucky


Kentucky Revenue Cabinet
All businesses must be issued a state tax number. The application can be obtained online at
http://revenue.ky.gov/business/register.htm

Kentucky Office of Employment and Training
The KY OET handles all unemployment insurance issues for the State. You must be registered
and issued an unemployment insurance tax ID number. To access their online services visit
https://kewes.ky.gov/.

Kentucky Workman’s Compensation Board
Coverage is required by the State for any employer who has one or more employees.
Information can be obtained from your local insurance agent.

Social Security Administration
All businesses must contact the Social Security Administration to establish payment of social security taxes. Much of the information related to this topic can be found on the SSA business
services website (http://www.ssa.gov/bso/bsowelcome.htm) or you may call the local office (Owensboro)  at (270) 685-3931.


Local Licenses and Permits

If your business in located in one of the three cities in Breckinridge County you will need to obtain a city business license.


City of Cloverport
212 West Main Street
Cloverport, KY 40111
Phone: (270) 788-6632
Fax: (270) 788-3751

City of Hardinsburg
PO Box 149
220 South Main St.
Hardinsburg, KY 40143
Phone: (270) 756-2213
Fax: (270) 756-2209

City of Irvington
PO Box 374
216 N. First St.
Irvington, KY 40146
Phone: (270) 547-3835
Fax: (270) 547-3839


Planning and Zoning

If your business is located within one of the three incorporated cities you will need to contact the city office to make sure your location is properly zoned.

If you are building a new structure for your business you will need to contact the following offices:

Breckinridge County Building/Electrical Inspector
Don Cox
525 Old Highway 60
P.O. Box 613
Hardinsburg, KY 40143
Phone: (270) 756-1960
Email: doncox@bbtel.com

Breckinridge County Plumbing Inspector
Bob Maeser
Breckinridge County Health Department
208 South Main Street
Hardinsburg, KY 40143
Phone: (270) 756-5935


For Food related businesses

Breckinridge County Environmental
Breckinridge County Health Department
208 South Main Street
Hardinsburg, KY 40143
Phone: (270) 756-2462


Utilities


Water:

City of Cloverport
212 West Main Street
Cloverport, KY 40111
Phone: (270) 788-6632
Fax: (270) 788-3751

City of Hardinsburg
PO Box 149
220 South Main St.
Hardinsburg, KY 40143
Phone: (270) 756-2213
Fax: (270) 756-2029

City of Irvington
PO Box 374
216 N. First St.
Irvington, KY 40146
Phone: (270) 547-3835
Fax: (270) 547-3839

Electric:

Meade County RECC
127 E. Old Hwy. 60
P.O. Box 208
Hardinsburg, KY 40143
Phone: (270) 756-5172

Natural Gas:

Atmos Energy
3275 Highland Pointe Drive
Owensboro, KY 42303
270-685-8012
Fax: 270-685-8053

Irvington Gas Company
401 First Street
P. O. Box 55
Irvington, KY 40143
Phone: (270) 547-2455
Fax: (270) 547-2464

This document has been provided by BCU Economic Development as a guide to starting a business in Breckinridge County.  If you have any questions please contact BCU Economic Development.

This file may be downloaded as a Word document.