How to Start a Business in New Hampshire New Hampshire Registered Agent How to Start an LLC in New Hampshire

How to Start a Business in New Hampshire

Starting a business in New Hampshire involves several key steps, including choosing a business structure, registering with the state, and obtaining necessary licenses and permits. Entrepreneurs must also consider market research and business planning to ensure a successful launch.

New Hampshire Economy Trends

Small Business Statistics:
New Hampshire is home to approximately 142,600 small businesses, which employ about 50.1% of the state's workforce. Notable industries include manufacturing, healthcare, and tourism. For more detailed statistics, visit the U.S. Small Business Administration.

New Business Application Statistics:
In New Hampshire, there were 15,981 new business applications. For more information, see the Census Bureau's visualization.

Exports and GDP:
New Hampshire's economy is bolstered by exports, with machinery and electrical equipment being significant contributors. The state's GDP reflects a diverse economic base, with manufacturing and technology sectors playing crucial roles. For recent data, refer to the U.S. Census Bureau.

Economic Highlights:
New Hampshire boasts a favorable tax climate with no state sales tax or income tax on wages. Key cities like Manchester and Nashua serve as major industry hubs. For more information, visit the New Hampshire Department of Business and Economic Affairs.

Step 1: Perform Market Research
Step 2: Write a Business Plan
Step 3: Get Licenses and Permits
Step 4: Acquire Funding
Step 5: Choose a Business Entity
Step 6: Select a Business Location
Step 7: Register the Company

Step 1: What Kind of Business Should I Start in New Hampshire?

Selecting a business type in New Hampshire depends on factors such as personal interests, market demand, and regional economic strengths. Dominant industries in New Hampshire include:

Manufacturing
Healthcare
Tourism

For more information, visit the New Hampshire Department of Business and Economic Affairs.

How to Do Market Research in New Hampshire

Market research involves gathering information to understand consumer needs and market conditions. Primary research methods include surveys and interviews, while secondary research involves analyzing existing data. Key areas to analyze include consumer demographics, buying behavior, and market gaps. Conducting a competitive analysis helps understand other businesses in the area. Research enables entrepreneurs to make data-driven decisions when launching a new business in New Hampshire.

Step 2: How to Write a Business Plan in New Hampshire

A business plan is essential for clarifying goals, attracting investors, securing funding, organizing operations, and evaluating progress. It is valuable for both new and scaling businesses and can evolve over time.

Executive Summary: This section provides a snapshot of the business, including its mission statement, product or service offerings, and basic information about the leadership team, employees, and location.

Company Description: This section includes detailed information about the business, its goals, and the problems it aims to solve. It should also highlight the competitive advantages that will make the business successful.

Market Analysis: This section involves researching the industry, market size, expected growth, and competitive landscape. It should include an analysis of target market demographics and buying patterns.

Organization and Management: This section outlines the business's organizational structure, detailing the ownership, management team, and board of directors if applicable.

Product/Service Line: This section describes the products or services offered, including details about the product lifecycle, intellectual property, and research and development activities.

Marketing Plan: This section outlines the marketing and sales strategies, including pricing, advertising, and promotional plans.

Financial Plan: This section includes financial projections, such as income statements, cash flow statements, and balance sheets. It should also detail funding requirements and potential return on investment.

Appendix: This section contains any additional information, such as resumes, permits, lease agreements, and legal documentation.

Step 3: Do I Need a Business License in New Hampshire?

Yes, in most cases, businesses in New Hampshire need to obtain specific licenses or permits. There is no universal business license issued at the state level. Licensing depends on factors such as the type of business, its physical location, and whether the business is regulated. Common types of business licenses or permits include sales and use tax permits, local city or county business licenses, and regulatory or professional licenses.

Business owners can determine which licenses apply to them by using state government licensing search tools or portals, consulting the New Hampshire Department of Business and Economic Affairs, or accessing centralized online checklists.

How Much Does a Business License Cost in New Hampshire?

Business license costs in New Hampshire vary depending on factors such as business type, jurisdiction, and the type of license or permit required. Some licenses may be available at no cost, while others may range from $15 to $100 for a general business license. Certain groups, such as veterans or nonprofits, may qualify for exemptions or fee waivers. Business owners should check directly with the appropriate issuing agency for exact fee amounts and payment policies.

How to Register for a Seller’s Permit in New Hampshire

In New Hampshire, a seller’s permit is referred to as a sales and use tax license. This permit authorizes the sale of taxable goods or services. The New Hampshire Department of Revenue Administration issues these permits. Applications can be submitted online through the NH DRA's online portal, or by mail using the appropriate forms. Required information includes the business's EIN, start date, address, ownership details, and expected sales. There is no cost for obtaining a seller’s permit, but annual renewals may be required. For further support, contact the Department of Revenue Administration.

Step 4: How Much Does it Cost to Start a Business in New Hampshire?

The cost of starting a business in New Hampshire varies based on factors such as business type, industry, location, and scale of operation. According to the U.S. Small Business Administration, startup costs can range widely, with larger businesses or those in certain industries incurring higher expenses. Common startup expenses include registration and incorporation fees, licensing and permits, equipment, supplies, office space, insurance, professional services, employee-related expenses, and marketing. Filing fees for LLC formation or corporation registration are typical costs to consider.

How to Get Business Funding in New Hampshire

Startups in New Hampshire have access to multiple funding options. Business owners should estimate their capital needs and choose suitable funding options based on their goals and eligibility. Common funding sources include self-funding, loans, grants, investors, and crowdfunding. State-specific investment or financing programs may also be available.

How to Self-Fund a Business in New Hampshire

Self-funding, or bootstrapping, involves using personal financial resources to start or run a business. Common methods include using savings, selling personal assets, earning supplemental income, pre-ordering, or borrowing from friends or family. Advantages include full ownership and control, while risks involve limited capital and personal financial exposure. Entrepreneurs should budget carefully and optimize resources. For assistance, consult the New Hampshire Chamber of Commerce or Small Business Administration tools.

How to Find Investors in New Hampshire

An investor provides capital and may offer mentorship, networking, or strategic guidance. Compensation may involve equity, dividends, or board positions. Business owners in New Hampshire can connect with investors by attending business events, using local investment networks, contacting state-level organizations like the New Hampshire Commerce Authority, and preparing a compelling pitch. Types of investors include angel investors, venture capitalists, friends and family, local private investors, and crowdfunding investors.

How to Get a Loan to Start a Business in New Hampshire

Business loans are a common funding method for new businesses in New Hampshire. Options include traditional bank loans, SBA-backed loans, and non-traditional options like peer-to-peer lending, microloans, supplier financing, and family loans. Steps to obtain a loan include choosing the right loan type, meeting eligibility criteria, providing collateral, and preparing documentation such as financial statements, business plans, and tax returns. Required documents usually include:

Financial statements
Business plan
Proof of income
Tax returns

Prospective business owners should consult financial professionals and compare loan offers to find the best terms.

How to Find New Hampshire Business Grants

Business grants are funding sources from government, private, or nonprofit organizations that do not require repayment. Each grant program has different eligibility requirements, application processes, and post-award obligations. Business owners in New Hampshire can find grants through the New Hampshire Commerce Authority, local economic development offices, state agency websites, and dedicated grant portals. Entrepreneurs should use grant search tools and consult local business support centers for assistance.

Can I Start a Business with No Money in New Hampshire?

Starting a business with absolutely no money in New Hampshire is not possible, as some capital is required for essentials like registration fees, licenses, equipment, and marketing. However, it is possible to launch a low-cost business or reduce expenses by starting from home, choosing a service-based business, using free resources, applying for grants or microloans, and networking locally. New Hampshire offers free or low-cost business tools, such as no-cost online registration portals.

Step 5: Choosing a Business Structure in New Hampshire

Choosing a business structure in New Hampshire is important for taxation, liability, management, and registration requirements. Available business structures include sole proprietorships, partnerships, LLCs, and corporations. Each structure has implications for taxation, liability, operations, ownership, and funding. Consulting a tax accountant, attorney, or business consultant is recommended. For more information, visit the SBA.

How to Start a Sole Proprietorship in New Hampshire

A sole proprietorship is a business owned and operated by one individual, offering full control and simple tax treatment but with personal liability for debts.

Starting a Sole Proprietorship in New Hampshire

Step 1: Choose a business name. You can use your legal name or a trade name.

Step 2: File a DBA (“Doing Business As”) if using a trade name. This is typically filed at the local level.

Step 3: Obtain necessary licenses and permits. Requirements vary by business type and location. An EIN is required if the business has employees.

Sole proprietorships do not need to be formally registered with the Secretary of State in New Hampshire.

How to Start a Corporation in New Hampshire

A corporation is a legal entity separate from its owners, providing limited liability protection. Different types include C-Corp, S-Corp, and nonprofit, with varying tax treatments.

Core Features:

Legal separation of owners and business
Limited liability for shareholders
Centralized management
Transferable ownership through stock
Taxation of profits (double or pass-through)

Steps to Form a Corporation in New Hampshire:

Step 1: Choose a Corporation Name. Ensure it meets naming requirements, including required words like “Corporation” or “Inc.”

Step 2: Appoint a Registered Agent and Registered Office. This can be an individual or company with a physical address in New Hampshire.

Step 3: File the Articles of Incorporation with the Secretary of State. Include the corporation's name, shares, incorporators, address, and agent. Filing can be done online or by mail, with applicable fees.

Step 4 (Optional): Foreign Corporations must file additional documents like a Certificate of Good Standing.

Step 5 (Optional): IRS Tax Classification may require Form 2553 for S-Corp election.

How to Start an LLC in New Hampshire

An LLC (Limited Liability Company) combines elements of corporations and partnerships, offering limited liability, pass-through taxation, and flexible management.

Steps to Form an LLC in New Hampshire:

Step 1: Name Search/Selection. Use the state portal to search for or reserve a business name. Fees may apply, and reservation is optional.

Step 2: File Articles of Organization with the Secretary of State. Filing can be done online or by mail, with applicable fees.

Further steps, such as obtaining an EIN or appointing a registered agent, may be required.

How to Start a Business Partnership in New Hampshire

A business partnership is owned by two or more individuals. Types include general partnerships, limited partnerships, and limited liability partnerships.

How to Start a Limited Partnership in New Hampshire

A Limited Partnership (LP) includes at least one general partner with full liability and management control, and one or more limited partners with limited liability. Starting a partnership requires filing documents with the Secretary of State, such as a Certificate of Limited Partnership. Filing can be done online or by mail.

How to Start a General Partnership in New Hampshire

A general partnership (GP) is jointly owned and managed by two or more individuals who share profits, losses, and liability. Registration is optional, but partners may file a Statement of Partnership Authority or trade name registration. Partnerships are generally recorded at the county recorder’s office.

How to Start a Nonprofit in New Hampshire

A nonprofit is a corporation formed for purposes other than profit, such as charity or education. Nonprofits must comply with state-specific incorporation procedures and file with the Secretary of State. Incorporating a nonprofit involves filing Articles of Incorporation, appointing directors, and obtaining an EIN. Tax-exempt status requires filing with the IRS (Form 1023 or 1023-EZ) and possibly a state tax exemption form.

Step 6: Choosing a Business Location in New Hampshire

Choosing a business location is critical for customer-facing businesses. Location impacts success, visibility, operations, and compliance. Common setups in New Hampshire include brick-and-mortar, online, home-based, and mobile businesses. Key factors to consider include proximity to the target market, accessibility, local competition, cost, zoning laws, and brand visibility. Relevant state or local agencies regulate location requirements.

What Kind of Business Can I Run From Home in New Hampshire?

Running a home-based business in New Hampshire is influenced by local regulations such as zoning ordinances and homeowner association rules. Some businesses are typically allowed if they do not affect the neighborhood’s residential character, while others may be prohibited due to noise or safety concerns. Individuals should check with local zoning departments, review HOA rules, and examine lease agreements.

How Do I Start a Small Business From Home in New Hampshire

Home-based businesses in New Hampshire must comply with legal requirements, including business formation, registration, licensing, and zoning compliance. Local governments enforce zoning laws that govern home-based businesses. A Home Occupation Permit may be required to assess business suitability in a residential setting. Contact local governing agencies for compliance.

Starting a Business Online in New Hampshire

An online business is conducted over the internet and must meet the same legal requirements as other businesses in New Hampshire. Steps include choosing a business name, selecting a legal structure, filing formation documents, obtaining an EIN, and acquiring licenses or permits. Additional regulations may apply, such as consumer protection laws or internet-specific sales restrictions.

Step 7: Legal Requirements for Starting a Business in New Hampshire

New Hampshire does not limit who can start a business, but all new businesses must follow state laws and local ordinances. Legal requirements depend on business structure, industry type, location, and products or services offered. Nearly all businesses need to file formation documents, obtain licenses, comply with tax obligations, and designate a registered agent.

How to Get an EIN Number in New Hampshire

An EIN (Employer Identification Number) is a unique nine-digit number issued by the IRS for tax identification purposes. It is required for hiring employees, opening business bank accounts, and filing taxes. Businesses can apply for an EIN online using the IRS EIN Assistant, by mail or fax using Form SS-4, or by phone for international applicants. The responsible party must have a valid Taxpayer Identification Number.

How to Get a New Hampshire Registered Agent

A registered agent is designated to receive legal documents on behalf of a business. In New Hampshire, LLCs, corporations, and limited partnerships must appoint a registered agent. The agent can be an individual at least 18 years old with a physical address in New Hampshire or a domestic or foreign business entity authorized to operate in the state. Appointment is made in the formation paperwork, and fees may apply.

Patents, Trademarks, and Copyrights in New Hampshire

Patents, trademarks, and copyrights are forms of intellectual property protection.

Patents: Provide inventors exclusive rights to their inventions, governed by the U.S. Patent and Trademark Office under Title 35 of the U.S. Code. Patent terms last 20 years from the filing date.

Trademarks: Distinguish the source of goods or services, managed federally by the USPTO and at the state level by the Secretary of State. Trademarks last 10 years and are renewable.

Copyrights: Protect original creative works, overseen by the U.S. Copyright Office under Title 17 of the U.S. Code. Copyrights last the life of the author plus 70 years.

New Hampshire Business Tax

The New Hampshire Department of Revenue Administration oversees business taxation. Tax obligations vary by business structure, industry, and activity. Common taxes include:

Business Profits Tax: Levied on income from business activities.
Business Enterprise Tax: Based on the enterprise value tax base.
Property Tax: Assessed on real and personal property.
Meals and Rentals Tax: Applied to meals, room rentals, and motor vehicle rentals.

Industry-specific taxes may also apply.

Are Business Records Public in New Hampshire?

Yes, business records maintained by state or local government agencies in New Hampshire are generally public and can be inspected or copied by request, unless exempted by law. Agencies such as the Secretary of State and Department of Revenue maintain these records. Some information, like Social Security Numbers and trade secrets, is exempt from public access.