Kentucky Business Startup Guides
Open a Business in Hazard, Kentucky
Need help starting a business in Hazard, Kentucky? We've got the information you need to open a business in Hazard.
Hazard, Kentucky Demographic Information
Hazard has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Hazard demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Hazard.
Businesses
As a new Hazard entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Hazard 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 Buying an Existing Hazard Business?
We've created a handy website page for those who want to Buy a Business in Kentucky. Follow that link and you may find several good businesses for sale in Hazard.
If you are serious about buying a business, you may want to read this article: Buying a Business.
Naming the Business
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 need to be easy to spell, easy to pronounce, and easy to remember.
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 starting a business in Hazard, it's critical that you ensure that no other Kentucky company is using the business name you want to use.
Forming a Company in Hazard, Kentucky
It's very important 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 traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
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 Kentucky, you don't necessarily have to incorporate in Kentucky. As it turns out, you are allowed to incorporate wherever you want. 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 Avoiding Personal Liability in Business. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Hazard, Kentucky, our information on Incorporating in Kentucky may be a useful resource if you decide to incorporate in Kentucky.
Where to Get Money to Start a Company
Getting your Hazard business the capital it needs to succeed is a difficult chore. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Getting a Small Business Loan.
For Hazard entrepreneurs who want to raise money for a new venture, check out our List of Kentucky Angel Investors and our List of Kentucky Venture Capital Firms.
The Art of Selling
Do you know how to sell? In order to attract customers to your new Hazard business, you need to focus on sales.
Why should customers buy from you instead of buying from competitors? Fortunately, we've got plenty of good advice to help you improve your selling skills.
Mastering the Complex Sale 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.
Moving Forward
As an entrepreneur in Hazard, 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 Hazard and throughout the United States . We want to be there for you to answer your business questions, whether you are a new Hazard 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 Hazard, Kentucky
Here are more links that we believe will help you be successful in starting a business in Hazard.
- Resources for Hazard, Kentucky Entrepreneurs - Browse a variety of resources we've collected to assist Hazard entrepreneurs.
- Kentucky Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Kentucky.
- Kentucky Small Business Development Center - The Kentucky Small Business Development Center (KSBDC) has been assisting Kentucky small business community for more than 25 years. KSBDC is co-sponsored by the U.S. Small Business Administration and is administered by the University of Kentucky in partnership with regional universities, community and private colleges, and the private sector.
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