North Carolina Business Startup Guides
Open a Business in Greensboro, North Carolina
Need help starting a business in Greensboro, North Carolina? We've got the information you need to open a business in Greensboro.
Will You Be a Good Entrepreneur?
Most new ventures do not succeed, in part because the business owner did not have the entrepreneurial skills and traits needed to succeed. So, before jumping into the world of entrepreneurship, consider all of the implications of being an entrepreneur.
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 Greensboro. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
- You should read Starting a Company. It's a good read for those who are thinking about becoming an entrepreneur.
- Talk it over with a close friend or partner. Others sometimes know you better than you know yourself.
Greensboro, North Carolina Demographic Information
Greensboro has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Greensboro demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Greensboro.
Businesses
As a new Greensboro entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Greensboro 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
Company Formation in Greensboro, North Carolina
It's essential that you choose the right legal structure for your new entity. Among other things, forming a legal entity for the business limits your liabilities.
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 North Carolina, you don't necessarily have to incorporate in North Carolina. 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 fundamentals of company formation, browse articles on our site, such as Where to Incorporate. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Greensboro, North Carolina, our web page covering Incorporating in North Carolina may be a useful resource if you decide to incorporate in North Carolina.
Don't Forget to Create a Business Plan
Writing a business plan is critical in maximizing the prospects of your new company. Indeed, a business plan is a written description of the future you envision for your business. Starting a business without a business plan will greatly reduce your chances of business success.
Before you start writing a business plan, we suggest you skim Business Plan Software. A great resource for business planning assistance is the free counseling sessions provided by your local SCORE chapter in North Carolina.
Where to Get Money to Start a Company
Obtaining startup financing for your Greensboro business is very difficult due to the ongoing business credit crunch. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Bank Credit Lines.
For Greensboro entrepreneurs with great ambition but a shortage of investment capital, check out our List of North Carolina Angel Investors and our List of North Carolina Venture Capital Firms.
Bring in Revenues
Mastering the art of selling is priority one if you want your new Greensboro business to do well.
So what does it take to bring in more prospects and close more business? Fortunately, we've got plenty of good advice to help you improve your selling skills.
Hiring Good Sales People offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
How to Improve Your Entrepreneurial Abilities
The best entrepreneurs know that what they know now may not be enough to ensure their future success.
As an entrepreneur who lives in Greensboro, North Carolina, you should get information on some of the learning programs at local North Carolina educational institutions. Another way to keep up on your learning is to investigate Greensboro networking organizations.
What's Next?
Most new Greensboro businesses underestimate the number of challenges they will face.
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 Greensboro and throughout the United States . We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.
More Entrepreneurial Resources for Starting a Business in Greensboro, North Carolina
Here are more links that we believe will help you be successful in starting a business in Greensboro.
- Resources for Greensboro, North Carolina Entrepreneurs - Browse a variety of resources we've collected to assist Greensboro entrepreneurs.
- North Carolina Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in North Carolina.
- North Carolina SBA - With offices in Charlotte, Wilmington, Raleigh and Asheville, the SBA organizes many events and provides useful resources for new entrepreneurs and growing businesses throughout North Carolina.
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