Massachusetts Business Startup Guides
Opening a Business in Newburyport, Massachusetts
Contemplating starting a business in Newburyport, Massachusetts? We walk you through the process of opening a business in Newburyport.
Is Becoming an Entrepreneur Right for You?
Before announcing to the world that you are going to start your own business, consider your entrepreneurial instincts and capabilities.
Before you move forward with starting a business, be sure to do these three things:
- Talk to other entrepreneurs in Newburyport. Get their take on what it's really like to be an entrepreneur.
- We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
- Get feedback from somebody whom you trust. That's the best way to get a truly objective assessment as to whether others think you have what it takes.
Newburyport, Massachusetts Demographic Information
Newburyport has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Newburyport demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Newburyport.
Businesses
As a new Newburyport entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Newburyport 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
Have You Considered Buying an Existing Newburyport Business?
We've created a useful website page for those who want to Buy a Business in Massachusetts. Follow that link and you may find several good businesses for sale in Newburyport.
Before buying a business, be sure to read this article: Hold Harmless Agreements When Buying Businesses.
Forming a Company in Newburyport, Massachusetts
It's essential that your business is formed as a legal entity that is separate from its owners. 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 corporation, LLC, sole proprietorship, partnership or other structure.
Incorporation 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. If you are starting a business in Massachusetts, it doesn't mean you are required to incorporate in Massachusetts. In fact, you can incorporate in the state of your choosing. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.
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 LLC Advantages. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Newburyport, Massachusetts, our web page covering Incorporating in Massachusetts may be a useful resource if you decide to incorporate in Massachusetts.
The Role of the Business Plan
A business plan is vital to the health of your new business. 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.
To learn more about business plans, read Expert Advice on Business Plans. You can also get free business counselors available to you through your local SCORE chapter in Massachusetts.
Raising Funding for Your Venture
Raising money to fund your new Newburyport business is a difficult chore. In fact, financing your new business may be the hardest challenge you ever face.
To learn about raising money, we recommend you read the fundraising articles on our site, such as Angel Investors.
For Newburyport entrepreneurs who want to raise money for a new venture, you'll want to take a look at our List of Massachusetts Angel Investors and our List of Massachusetts Venture Capital Firms.
Moving Forward
You have a dream -- starting a business in Newburyport. To achieve your dream, you have to persevere, even when the odds are against you.
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 Newburyport 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 Newburyport, Massachusetts
Here are more links that we believe will help you be successful in starting a business in Newburyport.
- Resources for Newburyport, Massachusetts Entrepreneurs - Browse a variety of resources we've collected to assist Newburyport entrepreneurs.
- Massachusetts Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Massachusetts.
- Massachusetts Small Business Development Center - The Massachusetts Small Business Development Center (MSBDC) Network provides one-to-one free comprehensive and confidential services focusing on, business growth and strategies, financing and loan assistance as well as strategic, marketing and operational analysis.
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