What should I know about business licenses in Montana?
The U.S. Small Business Administration reports that Montana's small businesses employ nearly 250,000 people, a number representing 65 percent of the private workforce. Companies employing 100 people or fewer comprise the bulk of small business hiring.
The Montana Department of Labor and Industry states that Montana claims the bigger share of small companies compared to the other 49 states. Only Wyoming can boast of a record number of small businesses (91 percent) employing 20 workers. Additionally, with a rate of nearly 8 percent, Montana is No. 1 in the U.S. for business openings.
Entrepreneurs play a vital role in growing Montana's small business economy. With low start-up expenditures and a booming economy supporting business growth, Montana is issuing more business licenses than ever before.
Before obtaining a business license in the Treasure State, you will need to determine your business structure (sole proprietorship, general partnership, corporation or limited liability corporation), reserve a business name, obtain a federal employer identification number, and determine if your business must further apply for special licensing and/or permits. Home-based businesses may also need a city/county license before they can operate legally in Montana.
Montana has a very low population density. Of the state’s 56 counties, 46 counties have average populations of just 6 people or less per square mile.
Montana has huge deposits of natural and mineral resources. Some of these resources are zinc, copper, silver, lead, oil, manganese, gold, timber, and zinc
There are more than 3000 named lakes and reservoirs in Montana, including Flathead Lake, which is the largest natural freshwater lake in the U.S.