Pennsylvania Business Startup Guides
Start a Business in Newtown Square, Pennsylvania
Are you starting a business in Newtown Square, Pennsylvania? This article discusses the most important things to consider when opening a business in Newtown Square.
Newtown Square, Pennsylvania Demographic Information
Newtown Square has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Newtown Square demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Newtown Square.
Businesses
As a new Newtown Square entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Newtown Square 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 Newtown Square, it's apparent that franchising has become a very popular way to start a business. So, it probably makes sense for you to consider franchising too.
Most business experts recommend that you consider franchising as an option. We have many articles on franchises, such as Five Franchise Opportunities To Watch. 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 Newtown Square Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Newtown Square.
Forming a Company in Newtown Square, Pennsylvania
It's essential 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.
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. If you are starting a business in Pennsylvania, you don't necessarily have to incorporate in Pennsylvania. As it turns out, you can incorporate in any state you would like to. 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 Offshore Company Formation. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Newtown Square, Pennsylvania, our information on Incorporating in Pennsylvania may be a useful resource if you decide to incorporate in Pennsylvania.
Don't Forget to Create a Business Plan
A business plan is critical to the health of your new business. Simply put, a business plan describes what you plan to do with the business and how you plan to do it. Failure to write a business plan is a recipe for disaster.
To learn more about business plans, read Business Plan Contests. You should also take advantage of free business counselors available to you through your local SCORE chapter in Pennsylvania.
Getting Money to Start a Business
Getting your Newtown Square business the capital it needs to succeed is very difficult due to the ongoing business credit crunch. In fact, financing your new business may be the hardest challenge you ever face.
Recognizing this challenge, this site contains dozens of articles on raising money, including one we recommend entitled Business Incubators.
For Newtown Square entrepreneurs in need of startup financing, check out our List of Pennsylvania Angel Investors and our List of Pennsylvania Venture Capital Firms.
Bring in Revenues
Do you know how to sell? In order to attract customers to your new Newtown Square business, you need to focus on sales.
Good selling involves demonstrating that your wares meet your customer's needs. Let us help you refine your selling techniques through our many useful sales advice tips.
Selling Products on eBay 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.
Next Steps
As an entrepreneur in Newtown Square, 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.
We are here to help Newtown Square businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Newtown Square, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Newtown Square, Pennsylvania
Here are more links that we believe will help you be successful in starting a business in Newtown Square.
- Resources for Newtown Square, Pennsylvania Entrepreneurs - Browse a variety of resources we've collected to assist Newtown Square entrepreneurs.
- Pennsylvania Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Pennsylvania.
- Pennsylvania Small Business Development Center - Pennsylvania SBDCs help aspiring entrepreneurs turn ideas into businesses, help small firms expand, and provide the information every business person needs to make critical decisions. There is no charge for their assistance and their free help can make the difference between business success and failure.
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