Oregon Business Startup Guides
Start a Business in Drain, Oregon
Are you starting a business in Drain, Oregon? This article discusses the most important things to consider when opening a business in Drain.
Will You Be a Good Entrepreneur?
Most new businesses fail, in part because the business owner did not have the tenacity and/or the skills to succeed. So, before you open a business, consider all of the implications of being an entrepreneur.
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Talk to other entrepreneurs in Drain. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
- 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. Others sometimes know you better than you know yourself.
Drain, Oregon Demographic Information
Drain has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Drain demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Drain.
Businesses
As a new Drain entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Drain 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
Choosing a Company Name
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.
Companies like Starbucks, Apple, Target, Microsoft and Intuit all have strong company names that are easy to remember and have become well-loved brands. Wouldn't it be nice if your new company name got on a similar track?
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Company.
On a final note, given that you are starting a business in Drain, it's imperative that you check now that no other Oregon company is using the business name you want to use.
Company Formation in Drain, Oregon
A critical step is ensuring that you choose the right legal structure for your new entity. Without a legal structure for the business, you can be held personally liable for the actions, debts and obligations of your company.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporating 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. Just because you are starting a business in Oregon, you don't necessarily have to incorporate in Oregon. 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'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 Piercing the Corporate Veil. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Drain, Oregon, our information on Incorporating in Oregon may be a useful resource if you decide to incorporate in Oregon.
The Role of the Business Plan
Having a business plan is essential in laying a solid foundation for your business success. In effect, a business plan describes what you plan to do with the business and how you plan to do it. Not having a business plan makes you more prone to becoming a business failure statistic.
To learn more about business plans, read Reasons to Write a Business Plan. A great resource for business planning assistance is the face-to-face free consulting available from your local SCORE chapter in Oregon.
Startup Financing Basics
Getting your Drain business the capital it needs to succeed is a difficult chore. In fact, financing your new business may be the hardest challenge you ever face.
To learn about raising money, we recommend you read the fundraising articles on our site, such as 504 Loans.
For Drain entrepreneurs in need of startup financing, check out our List of Oregon Angel Investors and our List of Oregon Venture Capital Firms.
Advancing Your Entrepreneurial Skills
Good entrepreneurs know that they need to continually improve.
Given that you are starting a business in Drain, Oregon, you will want to take advantage of the many programs available at nearby Oregon universities, colleges and community colleges. It's also smart to see if there are any networking groups or organizations in which Drain entrepreneurs get together to network and trade their business experiences.
What's Next?
Most new Drain businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
We are here to help Drain businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Drain, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Drain, Oregon
Here are more links that we believe will help you be successful in starting a business in Drain.
- Resources for Drain, Oregon Entrepreneurs - Browse a variety of resources we've collected to assist Drain entrepreneurs.
- Oregon Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Oregon.
- Oregon Small Business Development Center - Oregon Small Business Development Centers use a client-centered approach to deliver counseling, training, information and technical assistance in all aspects of small business management. There is no fee for their assistance.
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