New Jersey Business Startup Guides
Starting a Business in West Cape May, New Jersey
Thinking about starting a business in West Cape May, New Jersey? This step-by-step guide walks you through the major decisions you should consider before opening a new business in West Cape May.
Are You Ready for Life as an Owner?
An entrepreneurial life is demanding, much harder than working as an employee. Are you positive you want to start a business?
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Reach out to other entrepreneurs in West Cape May. Listen closely to their experiences and see if you think you too can be successful.
- Peruse Why Small Businesses Fail. This is one of our more popular articles for folks who want to go into business for themselves.
- Get feedback from somebody whom you trust. 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.
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.
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.
There's one other important factor when naming a business. Since you are planning on starting a business in West Cape May, it's critical that you ensure that no other New Jersey company is using the business name you want to use.
Forming a Company in West Cape May, New Jersey
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.
Incorporation is a very common way to legally create a business entity. 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 New Jersey, you don't necessarily have to incorporate in New Jersey. 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. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Subchapter S Corporations. You may also want to seek the advice of an attorney. Finally, if you are starting a business in West Cape May, New Jersey, our information on Incorporating in New Jersey may be a useful resource if you decide to incorporate in New Jersey.
Don't Skip the Business Plan
Creating a business plan is critical in laying a solid foundation for your business success. Simply put, your business plan is your game plan for how you hope to grow your business. Failure to write a business plan
To learn more about business plans, read Business Plan Contests. You should also take advantage of free business counselors available to you through your local SCORE chapter in New Jersey.
Where to Get Money to Start a Company
Getting your West Cape May business the capital it needs to succeed is not an easy task. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.
Take advantage of our many articles on raising capital, such as Choosing VC Firms.
For West Cape May entrepreneurs in need of startup financing, browse our List of New Jersey Angel Investors and our List of New Jersey Venture Capital Firms.
Increase Your Entrepreneurial Knowledge
The best business owners recognize that they need to continually improve.
Given that you are starting a business in West Cape May, New Jersey, you will want to take advantage of the many programs available at nearby New Jersey universities, colleges and community colleges. It's also worthwhile to see if there are any West Cape May networking organizations.
Never Give Up
As an entrepreneur in West Cape May, 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 West Cape May and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in West Cape May, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in West Cape May, New Jersey
Here are more links that we believe will help you be successful in starting a business in West Cape May.
- Resources for West Cape May, New Jersey Entrepreneurs - Browse a variety of resources we've collected to assist West Cape May entrepreneurs.
- New Jersey Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in New Jersey.
- New Jersey Small Business Development Center - The New Jersey Small Business Development Centers (NJSBDC) network helps New Jersey small businesses expand operations, manage growth or launch new ventures. With offices in every county of the state, NJSBDC consultants help small business owners finance, market and manage their ventures.
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