Massachusetts Business Startup Guides
Starting a Business in Dorchester, Massachusetts
Thinking about starting a business in Dorchester, Massachusetts? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Dorchester.
Have You Considered Buying an Existing Dorchester Business?
An excellent way to get started in business is to Buy a Business in Massachusetts. Follow that link and you may find several good businesses for sale in Dorchester.
If you are serious about buying a business, you may want to read this article: Hold Harmless Agreements When Buying Businesses.
Naming the Company
A good company name can give a big boost to a new startup. It might seem like an easy thing to do, but there are many things to consider when naming a business.
Company names should be fun to say, and they should help people to understand what you do and how you differentiate yourself in the market.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Business.
On a final note, given that you are opening a business in Dorchester, it's imperative that you check now that no Massachusetts company has already registered the company name you have selected.
Forming a Company in Dorchester, Massachusetts
It's very important that your business is formed as a legal entity that is separate from its owners. Doing so will shield you from personal liability for business debts and obligations.
When forming a company, you will pick from many company types, such as a corporation, LLC, sole proprietorship, partnership or other structure.
Incorporation is a very popular way to form a business. A key decision is whether to form and S-Corp or a C-Corp, and you also must decide in which state you will incorporate. If you are starting a business in Massachusetts, you don't necessarily have to incorporate in Massachusetts. In fact, you can incorporate in any state you would like to. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.
There are many nuances to forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as ESOP Formation. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Dorchester, Massachusetts, our web page covering Incorporating in Massachusetts may be a useful resource if you decide to incorporate in Massachusetts.
Where to Get Money to Start a Company
Obtaining startup financing for your Dorchester business is a difficult chore. In fact, financing your new business may be the hardest challenge you ever face.
Recognizing this challenge, this site contains dozens of articles on raising money, including one we recommend entitled Borrowing Money from Friends and Family.
For Dorchester entrepreneurs in need of startup financing, browse our List of Massachusetts Angel Investors and our List of Massachusetts Venture Capital Firms.
Increase Your Entrepreneurial Knowledge
The best business owners recognize that they don't know everything.
With your business being located in Dorchester, Massachusetts, you should investigate some of the many programs available at nearby Massachusetts universities, colleges and community colleges. Another way to keep up on your learning is to investigate networking organizations for Dorchester entrepreneurs.
What's Next?
Most new Dorchester businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Dorchester and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Dorchester entrepreneur who is just getting started or you are already up and running with your new venture.
More Entrepreneurial Resources for Starting a Business in Dorchester, Massachusetts
Here are more links that we believe will help you be successful in starting a business in Dorchester.
- Resources for Dorchester, Massachusetts Entrepreneurs - Browse a variety of resources we've collected to assist Dorchester entrepreneurs.
- Massachusetts Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Massachusetts.
- Massachusetts Small Business Development Center - The Massachusetts Small Business Development Center (MSBDC) Network provides one-to-one free comprehensive and confidential services focusing on, business growth and strategies, financing and loan assistance as well as strategic, marketing and operational analysis.
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