Connecticut Business Startup Guides
Opening a Business in East Hartford, Connecticut
Contemplating starting a business in East Hartford, Connecticut? We walk you through the process of opening a business in East Hartford.
Are You Sure You Want to Do This?
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:
- Talk to other entrepreneurs in East Hartford. Ask them candidly what it's like to run a business.
- We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
- Get feedback from somebody whom you trust. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
East Hartford, Connecticut Demographic Information
East Hartford has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for East Hartford demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in East Hartford.
Businesses
As a new East Hartford entrepreneur, you may also be interested in the table below. It shows how many businesses there are in East Hartford 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
What About Buying an Existing East Hartford Business?
An excellent way to get started in business is to Buy a Business in Connecticut. Follow that link and you may find several good businesses for sale in East Hartford.
Before buying a business, be sure to read this article: Buying a Business.
Picking a Company Name
Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset.
Even if the name doesn't do it by itself, many naming experts believe there should be a story behind the name that ties into your company mission.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Branding Advice.
On a final note, given that you are starting a business in East Hartford, it's very important that you make sure your company name has not already been claimed by another Connecticut business.
Forming a Company in East Hartford, Connecticut
It's essential that your business is formed as a legal entity that is separate from its owners. Doing so will protect 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. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Connecticut, you don't necessarily have to incorporate in Connecticut. As it turns out, you are allowed to incorporate in the state of your choosing. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
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 Avoiding Personal Liability in Business. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in East Hartford, Connecticut, our web page covering Incorporating in Connecticut may be a useful resource if you decide to incorporate in Connecticut.
The Role of the Business Plan
A business plan is critical in maximizing the prospects of your new company. 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 is a recipe for disaster.
If you want more information on writing business plans, we recommend reading Business Plan Mistakes. You can also get free business counselors available to you through your local SCORE chapter in Connecticut.
Next Steps
You have a dream -- starting a business in East Hartford. 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.
Our goal here is to promote the vitality and growth of small businesses in East Hartford and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in East Hartford, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in East Hartford, Connecticut
Here are more links that we believe will help you be successful in starting a business in East Hartford.
- Resources for East Hartford, Connecticut Entrepreneurs - Browse a variety of resources we've collected to assist East Hartford entrepreneurs.
- Connecticut Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Connecticut.
- Connecticut Small Business Development Center - Central Connecticut State University's Institute of Technology and Business Development (ITBD) supports Connecticut businesses and business-related organizations with training, technology assistance, conferencing services, procurement services and business incubation.
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