Gov. Timothy M. Kaine yesterday announced the launch of Virginia’s online business formation portal, or Business One Stop, to assist in the formation of new businesses in the Commonwealth.

The Business One Stop will begin to streamline the business formation process by automatically finding and filling necessary forms associated with business formation, with the capacity to expand and diversify services.

“The Business One Stop provides a single location for entrepreneurs to find and complete the needed forms to open their business,” Kaine said. “This simplifies the business formation process, speeds up business transactions, and helps eliminate data duplication by identifying and delivering forms needed by 80% of new businesses.”

 The Business One Stop is available under the Business tab of the Commonwealth’s homepage, www.virginia.gov, and will also be available as a link from many agency websites. The system collects users’ information, then provides and pre-fills the new business formation forms required by 80 percent of new businesses. The Virginia Enterprise Applications Program has worked to manage the formation of this initial system.