California Business Startup Guides
Opening a Business in Downey, California
Contemplating starting a business in Downey, California? We walk you through the process of opening a business in Downey.
Is Becoming an Entrepreneur Right for You?
Before quitting your day job, assess your entrepreneurial instincts and capabilities.
Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:
- Speak with other entrepreneurs in Downey. Get their take on what it's really like to be an entrepreneur.
- You should read The Entrepreneurial Personality. It's a good read for those who are thinking about becoming an entrepreneur.
- Reach out to a trusted acquaintance. That's the best way to get a truly objective assessment as to whether others think you have what it takes.
Downey, California Demographic Information
Downey has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Downey demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Downey.
Businesses
As a new Downey entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Downey for each business category. By looking at this chart, you can get a general sense for how much competition there is in the business niche that you are pursuing.
Businesses
Choosing a Business Name
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.
Companies like Starbucks, Apple, Target, Microsoft and Intuit all have strong company names that are easy to remember and have become well-loved brands. Wouldn't it be nice if your new company name got on a similar track?
For other considerations regarding naming a company, we recommend this article: Naming a Business.
On a final note, given that you are opening a business in Downey, it's very important that you make sure no California company has already registered the company name you have selected.
Company Formation in Downey, California
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 traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporating 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. Just because you are starting a business in California, it doesn't mean you are required to incorporate in California. In fact, you can incorporate wherever you want. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
There's a lot to know about forming a company. To learn the basics of company formation, browse articles on our site, such as Getting an EIN. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Downey, California, our web page covering Incorporating in California may be a useful resource if you decide to incorporate in California.
Make Sure You Have a Business Plan
Writing a business plan is critical in laying a solid foundation for your business success. In effect, a business plan describes what you plan to do with the business and how you plan to do it. Failure to write a business plan will greatly reduce your chances of business success.
Before you start writing a business plan, we suggest you skim Free Business Plan Templates. You can also get face-to-face free consulting available from your local SCORE chapter in California.
Bring in Revenues
Being able to sell is critical to your business success. Whether you are focused on selling local customers in Downey or are selling to customers throughout California, the United States or even the world, you have to be able to sell.
The key to selling is to set sales goals goals and monitor your progress towards those goals. Let us help you refine your selling techniques through our many useful sales advice tips.
Landing Big Customers is worth reading, as it may give you some good ideas on how to sell your products or services. We have many more good articles on selling that you may enjoy reading.
Improving Your Entrepreneurial Skillset
Successful entrepreneurs know that what they know now may not be enough to ensure their future success.
With your business being located in Downey, California, you should check out some of the many programs available at nearby California universities, colleges and community colleges. Another way to keep up on your entrepreneurial education is to investigate Downey networking organizations.
Moving Forward
You have a dream -- starting a business in Downey. To achieve your dream, you have to persevere, even when the odds are against you.
If you choose the right business and love what you do, you will greatly increase your odds of success.
We are here to help Downey businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Downey, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Downey, California
Here are more links that we believe will help you be successful in starting a business in Downey.
- Resources for Downey, California Entrepreneurs - Browse a variety of resources we've collected to assist Downey entrepreneurs.
- California Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in California.
- Fresno, California Small Business Development Center - The UC Merced SBDC Regional Network assists Central California entrepreneurs and small business owners through counseling, training and business information.
- Los Angeles, California Small Business Development Center - The Los Angeles Regional Small Business Development Center Network (LA SBDC Network) is part of the national, U.S. Small Business Administration (SBA) effort to provide free one-on-one customized consulting services and low-cost training workshops to growing businesses and start-up businesses.
- Sacramento, California Small Business Development Center - As Northern California continues to grow demographically and economically, the Northeastern California Small Business Development Center (NECSBDC) at CSU, Chico is committed to helping communities prepare and plan for future growth.
- San Diego, California Small Business Development Center - The Small Business Development Center (SBDC) at Southwestern College serves entrepreneurs and small businesses in San Diego and Imperial Counties. The SBDC provides no-cost business assistance to start-up & existing businesses.
- San Francisco, California Small Business Development Center - The Northern California Network of Small Business Development Centers helps individuals start, manage and grow their businesses.
- Orange County Small Business Development Center - The Orange County SBDC is a leader in providing consulting, training, and technical assistance to the small business community.
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