Arizona Business Startup Guides
Starting a Business in Globe, Arizona
Thinking about starting a business in Globe, Arizona? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Globe.
Are You Sure You Want to Do This?
Most startup companies do not succeed, in part because the business owner did not have the perseverance and abilities that are necessary to succeed. So, before jumping into the world of entrepreneurship, consider all of the implications of being an entrepreneur.
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Grab a meal or cofee with other entrepreneurs in Globe. Ask them candidly what it's like to run a business.
- Take a look at Business Failure. It's a short article but it's a good reality check for those are about to jump into the world of entrepreneurship.
- Involve a spouse, family member or trusted friend in the decision. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
Choosing the Right Company to Start
Choosing a business that is right for you is very important. If you are struggling with what type of business to start, read Free Business Ideas.
For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our Starting a Barn Business guide or our Starting a Carpets & Rugs Commercial & Industrial Business guide.
Always keep in mind that you are starting a business in Globe. Some businesses will do better in Globe than others. A critical consideration is whether Globe demographics mesh well with your startup concept.
Globe, Arizona Demographic Information
Globe has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Globe demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Globe.
Businesses
As a new Globe entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Globe 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
Naming the Company
A big decision when starting a company is choosing a company name. Believe it or not, choosing a good company name can be a big contributor to your business success.
Company names need to be easy to spell, easy to pronounce, and easy to remember.
Numerous company naming issues are discussed in more detail in this article: Naming a Business.
There's one other important factor when naming a business. Since you are starting a business in Globe, it's imperative that you check now that your company name has not already been claimed by another Arizona business.
Forming a Company in Globe, Arizona
A critical step is ensuring 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 common way to legally create a business entity. 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 Arizona, it doesn't mean you are required to incorporate in Arizona. In fact, you can 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. To learn the fundamentals of company formation, browse articles on our site, such as Where to Incorporate. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Globe, Arizona, our web page covering Incorporating in Arizona may be a useful resource if you decide to incorporate in Arizona.
Don't Skip the Business Plan
Creating a business plan is essential to the health of your new business. Simply put, a business plan is a written description of the future you envision for your business. Not having a business plan
To learn more about business plans, read Business Plan Mistakes. A great resource for business planning assistance is the free counseling sessions provided by your local SCORE chapter in Arizona.
Next Steps
Most new Globe businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
We are here to help Globe businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Globe, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Globe, Arizona
Here are more links that we believe will help you be successful in starting a business in Globe.
- Resources for Globe, Arizona Entrepreneurs - Browse a variety of resources we've collected to assist Globe entrepreneurs.
- Arizona Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Arizona.
- Arizona Small Business Development Center - Arizona�s Small Business Development Center Network is an innovative partnership between the state�s ten community college districts and the U.S. Small Business Administration. The network is the largest and most accessible source of assistance to Arizona businesses with fewer than 200 employees.
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