Rhode Island Business Startup Guides
Start a Business in East Providence, Rhode Island
Are you starting a business in East Providence, Rhode Island? This article discusses the most important things to consider when opening a business in East Providence.
Are You Ready for Life as an Owner?
Most startup companies fail, in part because the founder did not have the tenacity and/or the skills to succeed. So, before jumping into the world of entrepreneurship, consider all of the implications of being an entrepreneur.
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Speak with other entrepreneurs in East Providence. Listen closely to their experiences and see if you think you too can be successful.
- You should read Business Failure. It's a good read for those who are thinking about becoming an entrepreneur.
- Involve a spouse, family member or trusted friend in the decision. 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.
East Providence, Rhode Island Demographic Information
East Providence has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for East Providence demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in East Providence.
Businesses
As a new East Providence entrepreneur, you may also be interested in the table below. It shows how many businesses there are in East Providence 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
Have You Considered Buying an Existing East Providence Business?
We've created a useful website page for those who want to Buy a Business in Rhode Island. Follow that link and you can review several good businesses for sale in East Providence.
If you are serious about buying a business, you may want to read this article: Hold Harmless Agreements When Buying Businesses.
Don't Forget to Create a Business Plan
A business plan is essential to the health of your new business. In effect, a business plan is a written description of the future you envision for your business. Starting a business without a business plan is a recipe for disaster.
To learn more about business plans, read Business Plan Contests. A great resource for business planning assistance is the free counseling sessions provided by your local SCORE chapter in Rhode Island.
Getting Money to Start a Business
Getting your East Providence business the capital it needs to succeed 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.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Borrowing Money from Friends and Family.
For East Providence entrepreneurs on the hunt for startup funding, browse our List of Rhode Island Angel Investors and our List of Rhode Island Venture Capital Firms.
How to Sell
Mastering the art of selling is essential if you want your new East Providence business to do well.
Clever sales techniques can transform any business from good to great. Fortunately, we've got plenty of good advice to help you improve your selling skills.
Compensating Sales People offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
How to Improve Your Entrepreneurial Abilities
The best entrepreneurs recognize that they need to continually improve.
With your business being located in East Providence, Rhode Island, you will want to take advantage of the learning programs at local Rhode Island educational institutions. It's also worthwhile to see if there are any East Providence networking organizations.
Never Give Up
Most new East Providence businesses underestimate the number of challenges they will face.
If you choose the right business and love what you do, you will greatly increase your odds of success.
This site is all about helping entrepreneurs in East Providence and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new East Providence 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 East Providence, Rhode Island
Here are more links that we believe will help you be successful in starting a business in East Providence.
- Resources for East Providence, Rhode Island Entrepreneurs - Browse a variety of resources we've collected to assist East Providence 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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