Focus

Ensure full compliance with employment regulations, get feedback on a new brand concept, and create and streamline payroll processes.

‍
Services Provided

10 hours of free 1:1 guidance, helping with regulatory compliance assistance (licensing & tax registrations), worker classification review, payroll setup, hands-on training, and branding insights.

Challenge

As a new small business owner, Dr. Arti Chandra wanted insight into whether she should consider creating a separate brand for her medical practice to create a distinction between her (as a person) and her business.  Additionally, Dr. Chandra needed support in gaining a better understanding of the difference between employees and contractors, ensuring she was accurately classifying new workers. Finally, she requested help with obtaining a City of Seattle business license and filing her first tax registrations.

‍

Our Approach

Launch provided high-touch, personalized support to Cultivate Whole Health through the following steps:  

1) Regulatory Compliance -  The advisor guided Dr. Chandra through the process of obtaining a City of Seattle business license, registering with the Financial Crimes Enforcement Network (FinCEN), excise tax filings, opening accounts with WA Department of Labor & Industries, and WA Employment Security Department.  

2) Hands-on Training - Since Dr. Chandra wanted to be equipped to run her own payroll process, we provided hands-on setup support and training in using Gusto, a payroll and HR management platform. The purpose was to streamline her process for employee tax documentation and filings.

3) Socratic approach - We employed a Socratic approach to assist the client in determining whether to create a separate brand for her medical practice. By guiding her through a series of thoughtful questions, we encouraged her to reflect on her values, patient relationships, and the potential impacts of branding decisions. This method facilitated a deeper understanding of her goals and helped her arrive at a well-informed conclusion that aligns with her vision for the practice.

‍

Outcomes

The technical assistance provided by the OED had a significant impact on Cultivate Whole Health’s operations and taking the correct steps to becoming an employer.  

1) Identified Critical Gaps to Becoming a Washington State Employer - The advisor's comprehensive review helped Dr. Chandra identify critical gaps to compliance toward becoming an employer with Washington State’s regulatory agencies.  

2) Strategies Developed - Dr. Chandra implemented new systems and workflows, such as using Gusto for payroll and tax documentation, which improved her operational efficiency.

3) Skills Gained by the Entrepreneur - Through hands-on training and mentorship, Dr. gained a better understanding of payroll management and regulatory compliance, empowering her to make more informed decisions for her business.

‍

‍

Conclusion

The support Launch Industries provided Dr. Chandra helped her overcome early challenges in her small business. By addressing key operational and financial needs, the OED's assistance allowed her to focus on delivering high-quality healthcare and set her practice up for long-term success. This case study underscores the importance of local economic development initiatives in empowering entrepreneurs and strengthening the community.

‍

‍