Rhode Island Business Startup Guides
Starting a Business in Block Island, Rhode Island
Thinking about starting a business in Block Island, Rhode Island? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Block Island.
What Business Are You Starting?
An important decision is what kind of business you want to start. If you are struggling with what type of business to start, read Finding Your Niche in Life.
For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our Starting a Dance Club guide or our Starting a Tatoo Parlor guide.
Always keep in mind that your new startup will be located in Block Island. Some businesses will do better in Block Island than others. Only by spending some time analyzing Block Island demographics can you decide if there will be strong demand for your business idea.
Block Island, Rhode Island Demographic Information
Block Island has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Block Island demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Block Island.
Businesses
As a new Block Island entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Block Island 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
What About Franchising Opportunities?
As you drive around Block Island, it's apparent that franchising has become a very popular way to start a business. But is franchising the right option for you?
We highly recommend you consider franchising as an option. We have many articles on franchises, such as Franchising and Veterans. Get a thorough education on franchising by browsing all of our Articles on Franchising.
You can review hundreds of franchise opportunities by browing our Franchise Directory.
Sample franchise opportunities include Subway Franchises and Starbucks Franchises. Alternatively, you can browse franchise categories, such as Accounting Franchises and Moving Franchises.
Note on Block Island Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Block Island.
Don't Skip the Business Plan
A business plan is essential in maximizing the prospects of your new company. 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.
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 Rhode Island.
Raising Capital for Your Venture
Getting your Block Island business the capital it needs to succeed is very difficult due to the ongoing business credit crunch. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.
Take advantage of our many articles on securing funding, such as 504 Loans.
For Block Island entrepreneurs who need startup capital, check out our List of Rhode Island Angel Investors and our List of Rhode Island Venture Capital Firms.
Advancing Your Entrepreneurial Skills
Good entrepreneurs recognize that they don't know everything.
Given that you are starting a business in Block Island, Rhode Island, you will want to take advantage of the many programs available at nearby Rhode Island universities, colleges and community colleges. It's also wise to see if there are any networking organizations for Block Island entrepreneurs.
Never Give Up
As an entrepreneur in Block Island, 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.
This site is all about helping entrepreneurs in Block Island and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Block Island entrepreneur who is just getting started or you are already up and running with your new venture.
More Entrepreneurial Resources for Starting a Business in Block Island, Rhode Island
Here are more links that we believe will help you be successful in starting a business in Block Island.
- Resources for Block Island, Rhode Island Entrepreneurs - Browse a variety of resources we've collected to assist Block Island entrepreneurs.
- Rhode Island Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Rhode Island.
- Rhode Island Small Business Development Center - The Rhode Island Small Business Development Center provides entrepreneurs with best fit resources to create and transform their businesses.
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