North Carolina Business Startup Guides
Start a Business in Laurinburg, North Carolina
Are you starting a business in Laurinburg, North Carolina? This article discusses the most important things to consider when opening a business in Laurinburg.
Do You Have Entrepreneurial Drive and Passion?
Most new ventures fail, in part because the entrepreneur did not have the entrepreneurial skills and traits needed to succeed. So, before you start your business, consider all of the implications of being an entrepreneur.
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Talk to other entrepreneurs in Laurinburg. Get their candid feedback on what it takes to start a successful business.
- We recommend reading Characteristics of Successful Entrepreneurs. For aspiring new entrepreneurs, it's a must read article.
- Seek the advice of somebody who knows you well. A support network of family and friends can be a great sounding board for good advice before you decide for sure to go into business.
Laurinburg, North Carolina Demographic Information
Laurinburg has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Laurinburg demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Laurinburg.
Businesses
As a new Laurinburg entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Laurinburg 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
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.
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 Company.
There's one other important factor when naming a business. Since you are starting a business in Laurinburg, it's imperative that you check now that no other North Carolina company is using the business name you want to use.
Forming a Company in Laurinburg, North Carolina
A critical step is ensuring that you choose the right legal structure for your new entity. Doing so will shield you from personal liability for business debts and obligations.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation 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 North Carolina, you don't necessarily have to incorporate in North Carolina. As it turns out, 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. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Offshore Company Formation. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Laurinburg, North Carolina, our information on Incorporating in North Carolina may be a useful resource if you decide to incorporate in North Carolina.
Make Sure You Have a Business Plan
A business plan is critical in maximizing the prospects of your new company. Indeed, your business plan is your game plan for how you hope to grow your business. Not having a business plan is a recipe for disaster.
Before you start writing a business plan, we suggest you skim Business Plan Contests. A great resource for business planning assistance is the free business counselors available to you through your local SCORE chapter in North Carolina.
Marketing Your New Venture
Whether your goal is to attract Laurinburg customers or you plan on selling elsewhere, you'll need to have a good marketing plan.
There are myriad resources on this site to help you with your marketing plan. Dealing with Angry Customers discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. That's just a taste of the many useful articles we have on Marketing a Small Business.
Now It's Up To You
Most new Laurinburg 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.
We are here to help Laurinburg businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Laurinburg, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Laurinburg, North Carolina
Here are more links that we believe will help you be successful in starting a business in Laurinburg.
- Resources for Laurinburg, North Carolina Entrepreneurs - Browse a variety of resources we've collected to assist Laurinburg 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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