New York Business Startup Guides
Start a Business in Old Westbury, New York
Are you starting a business in Old Westbury, New York? This article discusses the most important things to consider when opening a business in Old Westbury.
Do You Have Entrepreneurial Drive and Passion?
An entrepreneurial life is hard work, much harder than working as an employee. Are you sure 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:
- Talk to other entrepreneurs in Old Westbury. 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.
Old Westbury, New York Demographic Information
Old Westbury has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Old Westbury demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Old Westbury.
Businesses
As a new Old Westbury entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Old Westbury 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 Old Westbury, it's apparent that franchising has become a very popular way to start a business. But is franchising the right option for you?
Most business experts recommend that you investigate buying a franchise. We have many articles on franchises, such as Franchise Tradeshows. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
You can review hundreds of franchise opportunities by browing our Franchise Directory.
Representative franchise opportunities include Boloco Inspired Burritos and Champion Clean. Alternatively, you can browse franchise categories, such as Restaurant Franchises and Donut Shop Franchises.
Note on Old Westbury Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Old Westbury.
Naming the Company
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.
For other considerations regarding naming a company, we recommend this article: Naming a Business.
On a final note, given that you are opening a business in Old Westbury, it's critical that you ensure that no New York company has already registered the company name you have selected.
Forming a Company in Old Westbury, New York
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.
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. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in New York, you don't necessarily have to incorporate in New York. As it turns out, you are allowed to incorporate in any state you would like to. 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 Old Westbury, New York, our web page covering Incorporating in New York may be a useful resource if you decide to incorporate in New York.
The Role of the Business Plan
A business plan is vital in laying a solid foundation for your business success. In effect, a business plan is a written description of the future you envision for your business. Failure to write a business plan is a recipe for disaster.
If you want more information on writing business plans, we recommend reading Free Business Plan Templates. You should also take advantage of free business counselors available to you through your local SCORE chapter in New York.
Now It's Up To You
As an entrepreneur in Old Westbury, you won't be working for the boss anymore. You are the boss.
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 Old Westbury and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Old Westbury, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Old Westbury, New York
Here are more links that we believe will help you be successful in starting a business in Old Westbury.
- Resources for Old Westbury, New York Entrepreneurs - Browse a variety of resources we've collected to assist Old Westbury entrepreneurs.
- New York Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in New York.
- New York Small Business Development Center - The New York State Small Business Development Center delivers high quality business counseling and training to New Yorkers who want to start a business or improve the performance of an existing business.
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