Wednesday, May 16, 2012

Business Resources: For the Skeptical Artist

Artist Survival Kit workshop participants
learning business strategies

Earlier on the blog I introduced the importance of small business resources for artists. I promised to summarize some of the helpful resources available in Oklahoma. 

Today, I write to the skeptical artists who do not see how their artwork can fit with normal business plans or don’t see the value in aligning with organizations like chambers of commerce.   Later, I will offer resources for artists who already understand their artistic practice as a business (and maybe some skeptics will be swayed).

Perhaps you are wondering, “why do I need to know about standard business strategies?"

Basically, thousands of business experts have worked for many years to outline making a business succeed.  Many have devoted lots of brain power and trial and error to define best practices. Many have worked to improve making businesses profitable.

Why duplicate all the effort and make the same mistakes when all this work has already been done for us? Knowledgeable specialists share many of their tips with us for free!
Artist Survival Kit workshop participants Sharon Webster
& Romy Owens learning business strategies
If that doesn’t convince you, certainly you do not want to break the law. Ignorance is not a defense if you neglect to follow tax law, insurance requirements and function well as a legal entity.  You can talk to anyone who has been audited over problems gathering sales tax or sued over a breach of contract to know that it is worth learning the basics for your business.

For the bare bones facts, check out the checklist from the Department of Commerce for startup businesses.  They give simple information about business structure (sole proprietor, S-corp, etc.), licensing and more. 

See here for free workshops by the Oklahoma Tax Commission about business taxes. Also, you can save money as a reseller with a sales tax permit if you buy supplies to make your art that you will later sell (and charge sales tax). 

The Department of Commerce also offers tips for expanding your existing business.

With a few steps and strategies, your small artistic business can be at the least legit and possibly on the road to profit. 


Sandra Dunn said...

Thank you for this useful information.

Julia Kirt said...

Great Sandra. Glad it is useful to you.