New York Business Startup Guides
Opening a Business in Southampton, New York
Contemplating starting a business in Southampton, New York? We walk you through the process of opening a business in Southampton.
Are You Ready for the Challenges of Being an Entrepreneur?
Running your own business is demanding, 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 Southampton. Listen closely to their experiences and see if you think you too can be successful.
- We recommend reading Should You Become an Entrepreneur?. For aspiring new entrepreneurs, it's a must read article.
- Have a candid conversation with friends and family. 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.
Southampton, New York Demographic Information
Southampton has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Southampton demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Southampton.
Businesses
As a new Southampton entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Southampton 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 a Franchise Opportunity Right For You?
As you drive around Southampton, 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 consider franchising as an option. On our site, you can read many articles about franchising, such as Questions to Ask Franchisors. Get a thorough education on franchising by browsing all of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Representative franchise opportunities include i9 Sports and JumpBunch, Inc.. Alternatively, you can browse franchise categories, such as Restaurant Services Franchises and Telecommunications Franchises.
Note on Southampton Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Southampton.
Selecting a Name For Your Venture
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.
For other considerations regarding naming a company, we recommend this article: Naming a Company.
As a final piece of advice, remember that because you are planning on starting a business in Southampton, it's critical that you ensure that you will be the only New York company using the business name you have chosen.
Company Formation in Southampton, New York
It's very important 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.
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. Just because you are starting a business in New York, you don't necessarily have to incorporate in New York. In fact, 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's a lot to know about forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Registered Agents. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Southampton, New York, our information on Incorporating in New York may be a useful resource if you decide to incorporate in New York.
Where to Get Money to Start a Company
Finding the funds to fuel the growth of your Southampton 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.
Take advantage of our many articles on raising money, such as Business Incubators.
For Southampton entrepreneurs who need startup capital, check out our List of New York Angel Investors and our List of New York Venture Capital Firms.
Never Give Up
As an entrepreneur in Southampton, 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.
We are here to help Southampton businesses to be successful. 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 Southampton, New York
Here are more links that we believe will help you be successful in starting a business in Southampton.
- Resources for Southampton, New York Entrepreneurs - Browse a variety of resources we've collected to assist Southampton 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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