Ohio Business Startup Guides
Start a Business in Lebanon, Ohio
Are you starting a business in Lebanon, Ohio? This article discusses the most important things to consider when opening a business in Lebanon.
Are You Sure You Want to Do This?
Running your own business is difficult, much more challenging than working as an employee. Are you positive you have the stamina and skills to succeed on your own?
Before you move forward with starting a business, be sure to do these three things:
- Talk to other entrepreneurs in Lebanon. Ask them candidly what it's like to run a business.
- 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. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
Which Business to Choose?
An important decision is what kind of business you want to start. You might get some good ideas about what kind of business to start by reading Business Ideas That Don't Make Sense.
For step-by-step instructions on starting a variety of business types, visit the Good Businesses to Start section of our site. For example, you might be interested in our How to Start an Entertainers Business guide or our Starting a Malls Business guide.
Always keep in mind that you are opening your new business in Lebanon. Some businesses will do better in Lebanon than others. Study Lebanon demographics and do a competitive analysis as part of your startup planning process.
Lebanon, Ohio Demographic Information
Lebanon has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Lebanon demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Lebanon.
Businesses
As a new Lebanon entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Lebanon 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 Lebanon Business?
If you have some capital to play with, you may want to Buy a Business in Ohio. Follow that link and you might discover several good businesses for sale in Lebanon.
Before buying a business, be sure to read this article: Buying a Business.
Forming a Company in Lebanon, Ohio
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Among other things, forming a legal entity for the business limits your liabilities.
When forming a company, you will decide among many company types, such as a corporation, LLC, sole proprietorship, partnership or other structure.
Incorporating is a very popular way to form a business. 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 Ohio, you don't necessarily have to incorporate in Ohio. In fact, you are allowed to 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 Corporate Formalities. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Lebanon, Ohio, our web page covering Incorporating in Ohio may be a useful resource if you decide to incorporate in Ohio.
Don't Skip the Business Plan
A business plan is essential in laying a solid foundation for your business success. Indeed, your business plan is your game plan for how you hope to grow your business. Not having a business plan is a recipe for disaster.
If writing a business plan is on your to-do list, be sure to read Expert Advice on Business Plans. You should also take advantage of free counseling sessions provided by your local SCORE chapter in Ohio.
Promoting Your New Company
Whether your goal is to attract Lebanon customers or you plan on selling elsewhere, having an excellent marketing plan is fundamental to your succeeding.
We have some helpful resources on this site for entrepreneurs who are working on marketing plans. Marketing Basics is an article that will stimulate a few thoughts on your marketing plan. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.
Next Steps
As an entrepreneur in Lebanon, you won't be working for the boss anymore. You are the boss.
From this point on, you control your own destiny.
Our goal here is to promote the vitality and growth of small businesses in Lebanon and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Lebanon, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Lebanon, Ohio
Here are more links that we believe will help you be successful in starting a business in Lebanon.
- Resources for Lebanon, Ohio Entrepreneurs - Browse a variety of resources we've collected to assist Lebanon entrepreneurs.
- Ohio Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Ohio.
- Ohio Small Business Development Center - Whether you're starting your business, expanding your business, or just looking to stay in business, the Small Business Development Centers of Ohio (SBDCs of Ohio) can help with professional guidance by connecting you with research, financing sources, and training opportunities.
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