Starting a Business in Greenwich, Connecticut

Thinking about starting a business in Greenwich, Connecticut? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Greenwich.

Will You Be a Good Entrepreneur?

Before announcing to the world that you are going to start your own business, take inventory of your entrepreneurial instincts and capabilities.

With so much at stake when you start a business, we strongly recommend you do the following before you proceed:

• Talk to other entrepreneurs in Greenwich. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
• We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
• Get feedback from somebody whom you trust. Others sometimes know you better than you know yourself.

What Business Are You Starting?

Choosing a business that is right for you is very important. We recommend that you read Free Business Ideas.

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 Greenwich. Some businesses will do better in Greenwich than others. Study Greenwich demographics and do a competitive analysis as part of your startup planning process.

Greenwich, Connecticut Demographic Information

Greenwich has an active business community that includes small businesses, mid-sized businesses and large businesses.

To give you a better feel for Greenwich demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Greenwich.

Business Size	# of Businesses
1-4 Employees	7504
5-9 Employees	2284
10-19 Employees	1548
20-49 Employees	1020
50-99 Employees	360
100-249 Employees	162
250-499 Employees	36
500-999 Employees	18
1000+ Employees	12
All Greenwich Businesses	12944

As a new Greenwich entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Greenwich 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.

Business Type	# of Businesses
Advertising Agencies	6
Amusement Arcades	1
Appliance Repair and Maintenance	1
Architectural Services	19
Art Dealers	5
Audio and Video Equipment Manufacturing	1
Automotive Glass Replacement Shops	2
Automotive Parts and Accessories Stores	5
Baked Goods Stores	1
Barber Shops	1
Beauty Salons	26
Bed-and-Breakfast Inns	1
Beer, Wine, and Liquor Stores	10
Boat Dealers	1
Book Publishers	2
Book Stores	3
Broadwoven Fabric Mills	1
Business Associations	3
Cable and Other Program Distribution	2
Camera and Photographic Supplies Stores	1
Car Washes	3
Caterers	6
Child Day Care Services	6
Children's and Infants' Clothing Stores	7
Civic and Social Organizations	13
Clothing Accessories Stores	5
Coin-Operated Laundries and Drycleaners	1
Commercial Bakeries	1
Commercial Lithographic Printing	1
Commodity Contracts Brokerage	1
Commodity Contracts Dealing	3
Community Food Services	1
Computer and Software Stores	1
Computer Systems Design Services	10
Confectionery Merchant Wholesalers	2
Consumer Lending	1
Convenience Stores	2
Convention and Trade Show Organizers	1
Credit Bureaus	1
Credit Card Issuing	1
Credit Unions	4
Custom Computer Programming Services	16
Deep Sea Freight Transportation	1
Dental Laboratories	1
Diagnostic Imaging Centers	1
Digital Printing	1
Direct Life Insurance Carriers	2
Direct Mail Advertising	2
Drilling Oil and Gas Wells	1
Dry Pasta Manufacturing	1
Drywall and Insulation Contractors	3
Educational Support Services	3
Electric Power Distribution	2
Electrical Contractors	16
Electronic Shopping	2
Elementary and Secondary Schools	15
Emergency and Other Relief Services	1
Employment Placement Agencies	7
Engineering Services	8
Environmental Consulting Services	1
Exam Preparation and Tutoring	4
Exterminating and Pest Control Services	1
Facilities Support Services	1
Family Clothing Stores	6
Farm Supplies Merchant Wholesalers	4
Fine Arts Schools	5
Finish Carpentry Contractors	7
Fish and Seafood Markets	1
Fish and Seafood Merchant Wholesalers	3
Fitness and Recreational Sports Centers	17
Floor Covering Stores	4
Flooring Contractors	3
Florists	4
Food (Health) Supplement Stores	1
Food Service Contractors	17
Footwear and Leather Goods Repair	1
Footwear Merchant Wholesalers	8
Framing Contractors	1
Freight Transportation Arrangement	11
Fruit and Vegetable Markets	1
Full-Service Restaurants	54
Funeral Homes and Funeral Services	3
Furniture Merchant Wholesalers	1
Furniture Stores	13
General Automotive Repair	6
General Medical and Surgical Hospitals	1
General Rental Centers	1
Gift, Novelty, and Souvenir Stores	6
Glass and Glazing Contractors	2
Golf Courses and Country Clubs	6
Grantmaking Foundations	11
Graphic Design Services	5
Hardware Merchant Wholesalers	1
Hardware Stores	3
Hat, Cap, and Millinery Manufacturing	1
Heating Oil Dealers	4
Hobby, Toy, and Game Stores	3
Home Health Care Services	3
Homes for the Elderly	3
Household Appliance Stores	1
Industrial Design Services	2
Insurance Agencies and Brokerages	31
Interior Design Services	28
International Trade Financing	3
Internet Publishing and Broadcasting	2
Internet Service Providers	2
Investigation Services	2
Investment Advice	62
Janitorial Services	9
Jewelry (except Costume) Manufacturing	2
Jewelry Stores	9
Land Subdivision	5
Landscape Architectural Services	4
Landscaping Services	43
Language Schools	1
Lessors of Other Real Estate Property	1
Libraries and Archives	1
Limited-Service Restaurants	16
Limousine Service	4
Local Messengers and Local Delivery	1
Locksmiths	1
Luggage and Leather Goods Stores	2
Machine Shops	1
Mail-Order Houses	6
Marinas	4
Marketing Consulting Services	17
Masonry Contractors	3
Media Buying Agencies	1
Media Representatives	2
Medical Laboratories	1
Men's Clothing Stores	2
Miscellaneous Intermediation	23
Mobile Food Services	1
Mortgage and Nonmortgage Loan Brokers	3
Motion Picture and Video Distribution	1
Motion Picture and Video Production	2
Museums	2
Musical Groups and Artists	2
Musical Instrument and Supplies Stores	1
Nail Salons	5
Natural Gas Distribution	1
New Car Dealers	12
New Housing Operative Builders	2
News Dealers and Newsstands	1
Newspaper Publishers	2
Nonresidential Property Managers	13
Nursing Care Facilities	2
Office Administrative Services	23
Office Equipment Merchant Wholesalers	3
Office Supplies and Stationery Stores	1
Offices of Bank Holding Companies	1
Offices of Certified Public Accountants	18
Offices of Chiropractors	3
Offices of Dentists	24
Offices of Lawyers	53
Offices of Optometrists	4
Offices of Other Holding Companies	15
Offices of Podiatrists	1
Offices of Real Estate Appraisers	1
Open-End Investment Funds	2
Optical Goods Stores	4
Outdoor Power Equipment Stores	1
Paint and Wallpaper Stores	1
Painting and Wall Covering Contractors	14
Parking Lots and Garages	1
Payroll Services	1
Periodical Publishers	4
Pet and Pet Supplies Stores	3
Pet Care (except Veterinary) Services	5
Pharmacies and Drug Stores	5
Photography Studios, Portrait	2
Portfolio Management	125
Private Mail Centers	1
Professional Employer Organizations	2
Professional Organizations	1
Public Relations Agencies	6
Quick Printing	1
Radio Networks	2
Radio Stations	3
Real Estate Credit	5
Real Estate Investment Trusts	1
Recreational Goods Rental	1
Reinsurance Carriers	3
Residential Property Managers	11
Residential Remodelers	26
Resilient Floor Covering Manufacturing	1
Retail Bakeries	2
Reupholstery and Furniture Repair	3
Roofing Contractors	4
Sales Financing	8
Savings Institutions	6
Secondary Market Financing	2
Securities and Commodity Exchanges	1
Securities Brokerage	44
Security Guards and Patrol Services	1
Septic Tank and Related Services	2
Shoe Stores	7
Silverware and Hollowware Manufacturing	1
Site Preparation Contractors	5
Snack and Nonalcoholic Beverage Bars	5
Solid Waste Collection	4
Sound Recording Studios	1
Special Needs Transportation	1
Sporting Goods Stores	8
Sports and Recreation Instruction	5
Tax Preparation Services	3
Taxi Service	1
Telecommunications Resellers	1
Telemarketing Bureaus	1
Telephone Answering Services	1
Temporary Help Services	3
Theater Companies and Dinner Theaters	1
Tile and Terrazzo Contractors	4
Tire and Tube Merchant Wholesalers	1
Title Abstract and Settlement Offices	1
Tobacco Stores	2
Toilet Preparation Manufacturing	1
Tour Operators	1
Translation and Interpretation Services	1
Travel Agencies	10
Used Car Dealers	2
Used Household and Office Goods Moving	1
Used Merchandise Stores	6
Vending Machine Operators	2
Veterinary Services	4
Video Tape and Disc Rental	2
Vocational Rehabilitation Services	1
Voluntary Health Organizations	3
Water Supply and Irrigation Systems	1
Weft Knit Fabric Mills	1
Wholesale Trade Agents and Brokers	15
Window Treatment Stores	3
Wired Telecommunications Carriers	2
Women's Clothing Stores	23

What About Franchising Opportunities?

Browse the Yellow Pages for Greenwich and you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you?

Our recommendation is that you look into purchasing a franchise. To help you learn more about franchising, we've gathered a ton of articles on franchising, including Buying an Existing Franchise. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.

To learn about specific franchise opportunities, check out our Franchise Directory.

Representative franchise opportunities include Subway Franchises and Starbucks Franchises. Alternatively, you can browse franchise categories, such as Accounting Franchises and Moving Franchises.

Note on Greenwich Franchise Opportunities: To find out if a franchise you are interested in is available in Greenwich, you will need to get in direct contact with the franchisor.

Have You Considered Buying an Existing Greenwich Business?

An excellent way to get started in business is to Buy a Business in Connecticut. Follow that link and you may find several good businesses for sale in Greenwich.

For anybody who wants to buy a business, we recommend reading this useful article: Hold Harmless Agreements When Buying Businesses.

Naming the Company

A big decision when starting a company is choosing a company name. Believe it or not, choosing a good company name can be a big contributor to your business success.

Company names should be fun to say, and they should help people to understand what you do and how you differentiate yourself in the market.

To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Business.

As a final piece of advice, remember that because you are starting a business in Greenwich, it's very important that you make sure you will be the only Connecticut company using the business name you have chosen.

Forming a Company in Greenwich, Connecticut

It's essential that your business is formed as a legal entity that is separate from its owners. Doing so will shield you from personal liability for business debts and obligations.

The entity you form can be a corporation, LLC, sole proprietorship, partnership or other structure.

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 Connecticut, it doesn't mean you are required to incorporate in Connecticut. In fact, you can incorporate in the state of your choosing. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.

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 Offshore Company Formation. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Greenwich, Connecticut, our information on Incorporating in Connecticut may be a useful resource if you decide to incorporate in Connecticut.

The Role of the Business Plan

Writing a business plan is critical to the health of your new business. In effect, a business plan is a written description of the future you envision for your business. Not having a business plan will greatly reduce your chances of business success.

Before you start writing a business plan, we suggest you skim Find Sample Business Plans Online. You can also get free counseling sessions provided by your local SCORE chapter in Connecticut.

Raising Money for Your Venture

Finding the funds to fuel the growth of your Greenwich business will be harder than you might expect. 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 Business Credit Evaluation.

For Greenwich entrepreneurs in need of startup financing, check out our List of Connecticut Angel Investors and our List of Connecticut Venture Capital Firms.

Marketing Your New Venture

To grow your Greenwich business, you need a solid marketing plan.

There are myriad resources on this site to help you with your marketing plan. Pros and Cons of Advertising is a good read to get your marketing juices flowing. That's just one of the many useful articles we have on Marketing a Small Business.

The Art of Selling

Being able to sell is critical to your business success. Whether you are focused on selling local customers in Greenwich or are selling to customers throughout Connecticut, the United States or even the world, you have to be able to sell.

Good selling involves demonstrating that your wares meet your customer's needs. Let us help you refine your selling techniques through our many useful sales advice tips.

Compensating Sales People is worth reading, as it may give you some good ideas on how to sell your products or services. We have many more good articles on selling that you may enjoy reading.

Increase Your Entrepreneurial Knowledge

The best entrepreneurs recognize that what they know now may not be enough to ensure their future success.

As an entrepreneur who lives in Greenwich, Connecticut, you will want to take advantage of the many programs available at nearby Connecticut universities, colleges and community colleges. We also recommend you look into networking organizations for Greenwich entrepreneurs.

What's Next?

You have a dream -- starting a business in Greenwich. To achieve your dream, you have to persevere, even when the odds are against you.

From this point on, you control your own destiny.

Our goal here is to promote the vitality and growth of small businesses in Greenwich and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Greenwich, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Greenwich, Connecticut

Here are more links that we believe will help you be successful in starting a business in Greenwich.

• Resources for Greenwich, Connecticut Entrepreneurs - Browse a variety of resources we've collected to assist Greenwich entrepreneurs.
• Connecticut Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Connecticut.
• Connecticut Small Business Development Center - Central Connecticut State University's Institute of Technology and Business Development (ITBD) supports Connecticut businesses and business-related organizations with training, technology assistance, conferencing services, procurement services and business incubation.
• Greenwich, Connecticut Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for Greenwich, Connecticut newspapers, including ad costs for newspapers serving the Greenwich area.

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