Colorado Business Startup Guides
Start a Business in Springfield, Colorado
Are you starting a business in Springfield, Colorado? This article discusses the most important things to consider when opening a business in Springfield.
Do You Have What It Takes?
Most startup businesses fail, in part because the entrepreneur did not have the entrepreneurial skills and traits needed to succeed. So, before you open a business, consider all of the implications of being an entrepreneur.
Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:
- Speak with other entrepreneurs in Springfield. Get their candid feedback on what it takes to start a successful business.
- You should read The Entrepreneurial Personality. It's a good read for those who are thinking about becoming an entrepreneur.
- Reach out to a trusted acquaintance. 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.
Springfield, Colorado Demographic Information
Springfield has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Springfield demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Springfield.
Businesses
As a new Springfield entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Springfield 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 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.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Company.
There's one other important factor when naming a business. Since you are starting a business in Springfield, it's imperative that you check now that no other Colorado company is using the business name you want to use.
Forming a Company in Springfield, Colorado
It's very important that you form your business as a legal structure. Doing so will separate 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 Colorado, it doesn't mean you are required to incorporate in Colorado. In fact, you can 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. To learn the basics of company formation, browse articles on our site, such as Incorporation Advice. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Springfield, Colorado, our information on Incorporating in Colorado may be a useful resource if you decide to incorporate in Colorado.
Raising Money for Your New Venture
Getting your Springfield business the capital it needs to succeed will be harder than you might expect. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.
To learn about raising money, we recommend you read the fundraising articles on our site, such as Attracting Investors.
For Springfield entrepreneurs on the hunt for startup funding, we have assembled a List of Colorado Angel Investors and our List of Colorado Venture Capital Firms.
Marketing Your New Business
To rise above the crowd in Springfield and grow your business, you need a excellent marketing plan.
There are myriad resources on this site to help you with your marketing plan. Avoiding Bad Product Launches discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. That's just one of the many useful articles we have on Marketing a Small Business.
Now It's Up To You
Most new Springfield businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
Our goal here is to promote the vitality and growth of small businesses in Springfield and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Springfield, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Springfield, Colorado
Here are more links that we believe will help you be successful in starting a business in Springfield.
- Resources for Springfield, Colorado Entrepreneurs - Browse a variety of resources we've collected to assist Springfield entrepreneurs.
- Colorado Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Colorado.
- Colorado Small Business Development Center - The Colorado Small Business Development Center (SBDC) Network is dedicated to helping small businesses throughout Colorado achieve their goals by providing free confidential counseling and various training programs.
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