Connecticut Business Startup Guides
Starting a Business in Manchester, Connecticut
Thinking about starting a business in Manchester, Connecticut? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Manchester.
Are You Ready for Entrepreneurship?
Most new ventures do not succeed, in part because the entrepreneur did not have the entrepreneurial skills and traits needed to succeed. So, before you start your business, consider all of the implications of being an entrepreneur.
Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:
- Grab a meal or cofee with other entrepreneurs in Manchester. Listen closely to their experiences and see if you think you too can be successful.
- Take a look at Business Failure. It's a short article but it's a good reality check for those are about to jump into the world of entrepreneurship.
- Involve a spouse, family member or trusted friend in the decision. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.
Manchester, Connecticut Demographic Information
Manchester has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Manchester demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Manchester.
Businesses
As a new Manchester entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Manchester 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
Should You Franchise?
As you drive around Manchester, you may be surprised to see how many franchises there are in the area. Is it perhaps smarter to franchise a business instead of doing it from scratch.
Our advice is to look into purchasing a franchise. We have many articles on franchises, such as Franchising Pros and Cons. 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.
Sample franchise opportunities include Subway Franchises and Starbucks Franchises. Alternatively, you can browse franchise categories, such as Accounting Franchises and Moving Franchises.
Note on Manchester Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Manchester.
Company Formation in Manchester, Connecticut
A critical step is ensuring that you choose the right legal structure for your new entity. 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. 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. Just because you are starting a business in Connecticut, you don't necessarily have to incorporate in Connecticut. In fact, you can incorporate in the state of your choosing. 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. To learn the basics of company formation, browse articles on our site, such as Incorporating Online. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Manchester, Connecticut, our information on Incorporating in Connecticut may be a useful resource if you decide to incorporate in Connecticut.
Getting Money to Start a Business
Getting your Manchester business the capital it needs to succeed is a difficult chore. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.
Take advantage of our many articles on raising capital, such as Borrowing Money from Friends and Family.
For Manchester entrepreneurs in need of startup financing, we have assembled a List of Connecticut Angel Investors and our List of Connecticut Venture Capital Firms.
Building Up Your Sales
Mastering the art of selling is priority one if you want your new Manchester business to do well.
Not knowing how to sell can result in lost customers and minimal market share. Let us help you refine your selling techniques through our many useful sales advice tips.
Selling Stuff on the Web offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
Never Give Up
Most new Manchester businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
We are here to help Manchester businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Manchester 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 Manchester, Connecticut
Here are more links that we believe will help you be successful in starting a business in Manchester.
- Resources for Manchester, Connecticut Entrepreneurs - Browse a variety of resources we've collected to assist Manchester 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.
More Business Startup Guides for Connecticut
Starting a Business in Madison
Starting a Business in Meriden
Browse All Business Startup Guides for Connecticut
Starting a Business Guides for Other States
Share this article
Additional Resources for Entrepreneurs