Financial consultants help firms and sometimes individuals make smarter fiscal decisions. Even a consulting firm of one is a business. Many consultants operate out of their homes and make the mistake of assuming they can run their businesses license-free. However, most cities and states require business tax registration and licensing for all businesses, of all sizes – and some require Home Occupation Permits for home-based businesses.
Lexington, Kentucky has long been known as the capitol of thoroughbred horse breeding. The Lexington area's long history of "gentleman farming" led to a strong livestock industry. Later, the city became home to the University of Kentucky which remains the city's largest employer. Entrepreneurs looking to join the Lexington economy will find relatively simple and few licenses from the local city-county combined government. Instead, more licensing is done at the state level.