--- title: Financial Tips for Starting a Small Business in Montana description: If you’re considering starting a small business in Montana, here are a few of our top financial tips. image: https://rmcu.net/hubfs/RMCU_starting-a-small-business-montana-blogHeader.jpg --- [![RMCULogoColor.jpg](https://rmcu.net/hubfs/RMCU-logo.svg "RMCULogoColor.jpg")](https://rmcu.net) [Online Banking Login](https://banking.rmcu.net/auth/signin) [Online Banking Login](https://banking.rmcu.net/auth/signin) [![RMCULogoColor.jpg](https://rmcu.net/hubfs/RMCU-logo.svg "RMCULogoColor.jpg")](https://rmcu.net) - - [Home Loans](https://rmcu.net/home-loans) - [Personal](https://rmcu.net/personal) - [Business](https://rmcu.net/business) - [Membership](https://rmcu.net/membership) - [Careers](https://rmcu.net/membership/about-rmcu/careers) - [Contact Us](https://rmcu.net/contact-us) - Search - [Financial Education ▾](https://rmcu.net/blog/financial-tips-for-starting-a-small-business-in-montana#financial-education-nav) - [About RMCU ▾](https://rmcu.net/blog/financial-tips-for-starting-a-small-business-in-montana#about-rmcu-nav) - [Security](https://rmcu.net/membership/security) - [TruStage: Security Alert](https://rmcu.net/trustage-security-alert) - [Money Mastermind](https://rmcu.net/money-mastermind-lessons) - [Financial Counseling](https://rmcu.net/financial-counseling) - [Savvy Money](https://rmcu.net/membership/financial-education/savvy-money) - [Blog](https://rmcu.net/blog) - [Resources](https://rmcu.net/resources) - [RMCU Team](https://rmcu.net/membership/about-rmcu/rmcu-team) - [Member Information](https://rmcu.net/membership/about-rmcu/member-information) - [Annual Meeting](https://rmcu.net/membership/about-rmcu/annual-meeting) - [Community](https://rmcu.net/membership/about-rmcu/community) - [Our History](https://rmcu.net/membership/about-rmcu/history) [back to blog](https://rmcu.net/blog) [Tips from the Pros](https://rmcu.net/blog/topic/tips-from-the-pros) # Financial Tips for Starting a Small Business in Montana Read Time **3 mins** | Written by: Rocky Mountain Credit Union [mailto:?subject=Financial%20Tips%20for%20Starting%20a%20Small%20Business%20in%20Montana&body=https%3A%2F%2Frmcu.net%2Fblog%2Ffinancial-tips-for-starting-a-small-business-in-montana](mailto:?subject=Financial%20Tips%20for%20Starting%20a%20Small%20Business%20in%20Montana&body=https%3A%2F%2Frmcu.net%2Fblog%2Ffinancial-tips-for-starting-a-small-business-in-montana) ## Think through the startup costs Have a comprehensive idea of startup costs before you get rolling. That’s not just a lease on commercial space, cost of goods, and business cards. Don’t forget the insurance, legal and licensing fees, too. But we’ll get into some of those in just a minute.    ## Take legal fees into consideration To make sure you’re setting up your business correctly and executing contracts efficiently, it’s important to consider the fees for legal help in your initial budget. If you’re not sure who to hire, you can start with directories from sites like [FindLaw](https://lawyers.findlaw.com/lawyer/practicestate/business-commercial-law/montana) to scope out help in your town.    ![RMCU\_starting-a-small-business-montana-blog2](https://rmcu.net/hs-fs/hubfs/RMCU_starting-a-small-business-montana-blog2.jpg?width=2894&name=RMCU_starting-a-small-business-montana-blog2.jpg) ## Don’t forget about taxes You’ll want to make estimated income tax payments throughout the year, as well as filing both state and federal taxes. Estimated payments are easy to make [online through the IRS website](https://www.irs.gov/businesses/small-businesses-self-employed/estimated-taxes), with a transfer directly from your business checking account. But how much you need to set aside will depend on your unique business. It can help to have advanced savings tools, like a [high-dividend business money market account](https://www.rmcu.net/business/savings-money-market-certificates) to help that savings grow safely.    If you’re not familiar with this side of taxes, it’s best to engage a tax pro early in the process so you’re not taken by surprise at tax time. That way, you can be sure to save enough throughout the year, and keep your books in order. Tax day doesn’t need to be stressful.    ## Remember license fees Depending on your town or county, and the type of business you’re starting, you might need a license to operate. You can check with your city and county directly, or get more information from Montana’s [Small Business Development Center.](https://sbdc.mt.gov/Resources/Licensing) Fees vary—there’s a big difference between the cost of a liquor license and the cost of a business name registration—but you still want to look into that sooner rather than later.    [The Montana Secretary of State](https://sosmt.gov/business/) has a nice section on business services and is a good place to go to when starting business.  All businesses must be registered with the SOS before they can start doing business in this state and financial institutions will want to know they are registered before they can open an account.   ![Two men reviewing a business contract. ](https://rmcu.net/hs-fs/hubfs/RMCU_starting-a-small-business-montana-blog3.jpg?width=2894&name=RMCU_starting-a-small-business-montana-blog3.jpg) ## Use financial tools to the fullest RMCU offers business financial tools to help you save and grow. Small business loans work best for your business if you don’t have to wait around. That’s why RMCU offers automatic approval, so you can grow instantly. Seek out lines of credit, commercial real estate loans, and equipment loans to help expand or get started.    ## Find a community-based financial institution You’ll want to set up business banking right from the start, so you can keep your business finances separate from your personal ones and well organized. When you’re starting a small business, you want strong community ties for your banking. That way you have a financial team behind you that understands where you’re coming from and where you’re going. From business checking to business credit cards and loans, you can find it at RMCU.    The team at RMCU can get you started with all things business banking. [Apply online](https://www.rmcu.net/business/business-loans) or [come in to your nearest branch](https://www.rmcu.net/branch-atm-locations) to get rolling with your small business.  ##### Rocky Mountain Credit Union Share the Love [mailto:?subject=Financial%20Tips%20for%20Starting%20a%20Small%20Business%20in%20Montana&body=https%3A%2F%2Frmcu.net%2Fblog%2Ffinancial-tips-for-starting-a-small-business-in-montana](mailto:?subject=Financial%20Tips%20for%20Starting%20a%20Small%20Business%20in%20Montana&body=https%3A%2F%2Frmcu.net%2Fblog%2Ffinancial-tips-for-starting-a-small-business-in-montana) You May Like These ## Related Articles ![](https://rmcu.net/hs-fs/hubfs/iStock-1090652214_c.jpg?width=700&name=iStock-1090652214_c.jpg) Financial Literacy ### [Prepping for Your 2020 Budget](https://rmcu.net/blog/preppin-budget-2020) It's not all just resolutions & fireworks at the end of December. With 2020 right around the cor... Keep Reading ![](https://rmcu.net/hs-fs/hubfs/2022%20RMCU%20Banner%20Images/RMCU_right-savings-account-blogHeader.jpg?width=700&name=RMCU_right-savings-account-blogHeader.jpg) Tips from the Pros ### [What Type of Savings Account is Right for You?](https://rmcu.net/blog/what-type-of-savings-account-is-right-for-you) Take a look at the different types of savings accounts RMCU offers, and you can find out which is th... Keep Reading ![](https://rmcu.net/hs-fs/hubfs/RMCU_Advantages%20of%20Opening%20a%20Summit%20Checking%20Account_1.jpg?width=700&name=RMCU_Advantages%20of%20Opening%20a%20Summit%20Checking%20Account_1.jpg) Checking & Savings ### [The Advantages of Opening a Summit Checking Account with RMCU](https://rmcu.net/blog/the-advantages-of-opening-a-summit-checking-account-with-rmcu) Here are just a few of the advantages you can look forward to when you open your Summit Checking acc... 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