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| Entrepreneurial Resources | Rhode Island Entrepreneurs | Rhode Island Startup Guides | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Starting a Business in Jamestown, Rhode IslandThinking about starting a business in Jamestown, Rhode Island? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Jamestown.
Are You Ready for Entrepreneurship? Before you get too far along in the process, assess your entrepreneurial instincts and capabilities. Before you move forward with starting a business, be sure to do these three things:
What Business to Start Choosing a business that is right for you is very important. 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 starting a business in Jamestown has some implications. Some businesses will do better in Jamestown than others. Don't forget to review Jamestown demographics to see if there's a market for what you want to sell. Jamestown, Rhode Island Demographic Information Jamestown has an active business community that includes small businesses, mid-sized businesses and large businesses. To give you a better feel for Jamestown demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Jamestown.
As a new Jamestown entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Jamestown 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.
Is a Franchise Opportunity Right For You? Visit the business district of Jamestown and you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you? We advise the entrepreneurs we work with to investigate buying a franchise. We have many articles on franchises, such as Buying a Franchise. Gain a solid understanding of franchising by scanning all of our Articles on Franchising. You can find franchise opportunities by browsing our Franchise Opportunities 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 Jamestown Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Jamestown. Should You Buy an Existing Jamestown Business? We've created a handy website page for those who want to Buy a Business in Rhode Island. Follow that link and you may find several good businesses for sale in Jamestown. Before buying a business, be sure to read this article: How to Buy a Business. Picking a Business Name Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset. Even if the name doesn't do it by itself, many naming experts believe there should be a story behind the name that ties into your company mission. For other considerations regarding naming a company, we recommend this article: Naming a Business. On a final note, given that you are opening a business in Jamestown, it's very important that you make sure your company name has not already been claimed by another Rhode Island business. Forming a Company in Jamestown, Rhode Island 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. When forming a company, you will pick from many company types, such as a corporation, LLC, sole proprietorship, partnership or other structure. Incorporation 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. If you are starting a business in Rhode Island, you don't necessarily have to incorporate in Rhode Island. As it turns out, you are allowed to incorporate in any state you would like to. 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 Pre-Incorporation Agreements. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Jamestown, Rhode Island, our web page covering Incorporating in Rhode Island may be a useful resource if you decide to incorporate in Rhode Island. Don't Skip the Business Plan Having a business plan is critical in maximizing the prospects of your new company. Simply put, a business plan is a written description of the future you envision for your business. Not having a business plan makes you more prone to becoming a business failure statistic. If you want more information on writing business plans, we recommend reading Business Plan Mistakes. You can also get face-to-face free consulting available from your local SCORE chapter in Rhode Island. Where to Get Money to Start a Company Raising money to fund your new Jamestown business is very difficult due to the ongoing business credit crunch. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative. To learn about raising money, we recommend you read the fundraising articles on our site, such as Business Cash Advances. For Jamestown entrepreneurs with great ambition but a shortage of investment capital, browse our List of Rhode Island Angel Investors and our List of Rhode Island Venture Capital Firms. Getting the Word Out About Your New Business Whether your goal is to attract Jamestown customers or you plan on selling elsewhere, you'll need to have a good marketing plan. We have some helpful resources on this site for entrepreneurs who are working on marketing plans. How to Write a Marketing Plan 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. Selling Tips Being able to sell is critical to your business success. Whether you are focused on selling local customers in Jamestown or are selling to customers throughout Rhode Island, the United States or even the world, you have to be able to sell. So what does it take to bring in more prospects and close more business? The good news is we can help you to make selling a big competitve advantage for your new firm. Selling with Questions is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site. Advancing Your Entrepreneurial Skills The best entrepreneurs recognize that what they know now may not be enough to ensure their future success. Given that you are starting a business in Jamestown, Rhode Island, you should investigate some of the many programs available at nearby Rhode Island universities, colleges and community colleges. You should also check if there are any networking organizations for Jamestown entrepreneurs. Never Give Up You have a dream -- starting a business in Jamestown. To achieve your dream, you have to persevere, even when the odds are against you. 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 Jamestown and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Jamestown, neighborhood development and overall economic health. More Entrepreneurial Resources for Starting a Business in Jamestown, Rhode Island Here are more links that we believe will help you be successful in starting a business in Jamestown.
Starting a Business in Greenville Starting a Business in Kingston Browse All Business Startup Guides for Rhode Island Starting a Business Guides for Other States
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