Indiana Business Startup Guides
Starting a Business in New Harmony, Indiana
Thinking about starting a business in New Harmony, Indiana? This step-by-step guide walks you through the major decisions you should consider before opening a new business in New Harmony.
Are You Ready for Life as an Owner?
Being an entrepreneur is difficult, much harder than working as an employee. Are you positive you have the stamina and skills to succeed on your own?
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Speak with other entrepreneurs in New Harmony. Listen closely to their experiences and see if you think you too can be successful.
- 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. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.
New Harmony, Indiana Demographic Information
New Harmony has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for New Harmony demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in New Harmony.
Businesses
As a new New Harmony entrepreneur, you may also be interested in the table below. It shows how many businesses there are in New Harmony 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
Is Franchising a Better Option?
As you drive around New Harmony, it's apparent that franchising has become a very popular way to start a business. Should you be giving franchising serious consideration?
Our advice is to consider franchising as an option. We have many articles on franchises, such as The Franchising Process. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
You can find franchise opportunities by browsing our Franchise Opportunities Directory.
Representative franchise opportunities include Parmasters Golf Training Centers and Buffalo Wild Wings Grill & Bar. Alternatively, you can browse franchise categories, such as Flooring Franchises and Mexican Restaurant Franchises.
Note on New Harmony Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in New Harmony.
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.
Before you decide on a company name, run it by some prospective customers and see what they think. If they don't like it, it's probably a good idea to go back to the drawing board.
Numerous company naming issues are discussed in more detail in this article: Naming a Company.
As a final piece of advice, remember that because you are starting a business in New Harmony, it's critical that you ensure that you will be the only Indiana company using the business name you have chosen.
Forming a Company in New Harmony, Indiana
It's essential 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.
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 Indiana, you don't necessarily have to incorporate in Indiana. As it turns out, 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 are many nuances to forming a company. To learn the fundamentals of company formation, browse articles on our site, such as Corporate Formalities. You may also want to seek the advice of an attorney. Finally, if you are starting a business in New Harmony, Indiana, our information on Incorporating in Indiana may be a useful resource if you decide to incorporate in Indiana.
Startup Financing Basics
Finding the funds to fuel the growth of your New Harmony business requires strong organization skills and perseverance. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Borrowing Money from Friends and Family.
For New Harmony entrepreneurs on the hunt for startup funding, check out our List of Indiana Angel Investors and our List of Indiana Venture Capital Firms.
Never Give Up
As an entrepreneur in New Harmony, you won't be working for the boss anymore. You are the boss.
From this point on, you control your own destiny.
We are here to help New Harmony businesses to be successful. We want to be there for you to answer your business questions, whether you are a new New Harmony 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 New Harmony, Indiana
Here are more links that we believe will help you be successful in starting a business in New Harmony.
- Resources for New Harmony, Indiana Entrepreneurs - Browse a variety of resources we've collected to assist New Harmony entrepreneurs.
- Indiana Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Indiana.
- Indiana Small Business Development Center - The Indiana Small Business Development Center assists Indiana entrepreneurs and small businesses through one on one counseling, education and business resources.
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