Starting a Business in London, Kentucky

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

London, Kentucky Demographic Information

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

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

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

Have You Considered Buying an Existing London Business?

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

Before buying a business, be sure to read this article: Hold Harmless Agreements When Buying Businesses.

Selecting a Name For Your Venture

A good company name can give a big boost to a new startup. It might seem like an easy thing to do, but there are many things to consider when naming a business.

We strongly advocate that you make sure the ".com" domain name is available for your company name. Every business needs a strong Web presence these days, and having a non ".com" domain means somebody else may outrank you in the search results for your own company name.

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

There's one other important factor when naming a business. Since you are planning on starting a business in London, it's very important that you make sure no Kentucky company has already registered the company name you have selected.

Company Formation in London, Kentucky

It's very important that your business is formed as a legal entity that is separate from its owners. The primary advantage of forming your new business as a legal entity is that it separates your business liabilities from your personal liabilities.

When forming a company, you will pick from many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.

Incorporating is a very common way to legally create a business entity. Of course, you have to decide which type of corporation to form and where to incorporate. Just because you are starting a business in Kentucky, it doesn't mean you are required to incorporate in Kentucky. In fact, you can 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's a lot to know about forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Dissolving a Corporation. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in London, Kentucky, our web page covering Incorporating in Kentucky may be a useful resource if you decide to incorporate in Kentucky.

Marketing Your New Venture

To grow your London business, you'll need to have a good marketing plan.

You can learn a ton about marketing on our site. Working with an Advertising Agency is a good read to get your marketing ideas flowing. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.

Bring in Revenues

Being able to sell is critical to your business success. Whether you are focused on selling local customers in London or are selling to customers throughout Kentucky, 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? Let us help you refine your selling techniques through our many useful sales advice tips.

Sales Training 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.

What's Next?

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

From this point on, you control your own destiny.

We are here to help London businesses to be successful. We want to be there for you to answer your business questions, whether you are a new London 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 London, Kentucky

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

• Resources for London, Kentucky Entrepreneurs - Browse a variety of resources we've collected to assist London 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.
• London, Kentucky Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for London, Kentucky newspapers, including ad costs for newspapers serving the London area.
• London, Kentucky Radio Advertising Prices - To help you in your marketing efforts, we've gathered radio advertising rates for London, Kentucky area radio stations.
• London, Kentucky Payroll Services - This list includes London, Kentucky payroll services, national payroll services for London, and helpful information on choosing a London payroll service.
• London, Kentucky Businesses for Sale - This list includes resources for buying a business in London, Kentucky, such as business brokers in London and other helpful information on how to buy a London business.