Alabama Business Startup Guides
Starting a Business in Marion, Alabama
Thinking about starting a business in Marion, Alabama? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Marion.
Choosing the Right Company to Start
An important decision is what kind of business you want to start. We recommend that you read Business Ideas That Don't Make Sense.
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 How to Open an Acupuncture and Acupressure Practice guide or our Opening a Shoring Business guide.
Remember that you are starting a business in Marion. Some businesses will do better in Marion than others. Only by spending some time analyzing Marion demographics can you decide if there will be strong demand for your business idea.
Marion, Alabama Demographic Information
Marion has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Marion demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Marion.
Businesses
As a new Marion entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Marion 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 Business
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.
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.
Numerous company naming issues are discussed in more detail in this article: Naming a Company.
There's one other important factor when naming a business. Since you are starting a business in Marion, it's critical that you ensure that your company name has not already been claimed by another Alabama business.
Forming a Company in Marion, Alabama
It's essential 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.
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 Alabama, it doesn't mean you are required to incorporate in Alabama. In fact, you are allowed to 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 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 Company Formation. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Marion, Alabama, our web page covering Incorporating in Alabama may be a useful resource if you decide to incorporate in Alabama.
Make Sure You Have a Business Plan
A business plan is critical in laying a solid foundation for your business success. Simply put, a business plan is a written description of the future you envision for your business. Starting a business without a business plan is a recipe for disaster.
If you want more information on writing business plans, we recommend reading The Art of the Executive Summary. You should also take advantage of face-to-face free consulting available from your local SCORE chapter in Alabama.
Learning More About Entrepreneurship
Good entrepreneurs recognize that they need to continually improve.
Given that you are starting a business in Marion, Alabama, you should check out some of the many programs available at nearby Alabama universities, colleges and community colleges. You should also check if there are any networking organizations for Marion entrepreneurs.
Now It's Up To You
As an entrepreneur in Marion, you won't be working for the boss anymore. You are the boss.
Owning your own business will be a daunting task, but you can do it.
This site is all about helping entrepreneurs in Marion and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Marion entrepreneur who is just getting started or you are already up and running with your new venture.
More Entrepreneurial Resources for Starting a Business in Marion, Alabama
Here are more links that we believe will help you be successful in starting a business in Marion.
- Resources for Marion, Alabama Entrepreneurs - Browse a variety of resources we've collected to assist Marion entrepreneurs.
- Alabama Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Alabama.
- Alabama Small Business Development Center - Alabama's Small Business Development Center (SBDC) counsels and trains business people in a wide variety of business topics and provides comprehensive information services and access to experts in many fields. Counseling is provided free of charge to all Alabama small business owners.
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