Rhode Island Business Startup Guides
Start a Business in North Kingstown, Rhode Island
Are you starting a business in North Kingstown, Rhode Island? This article discusses the most important things to consider when opening a business in North Kingstown.
Are You Ready for the Challenges of Being an Entrepreneur?
Being an entrepreneur is difficult, much harder than working as an employee. Are you positive you have the stamina and skills to succeed on your own?
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Talk to other entrepreneurs in North Kingstown. Listen closely to their experiences and see if you think you too can be successful.
- We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
- Get feedback from somebody whom you trust. 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.
North Kingstown, Rhode Island Demographic Information
North Kingstown has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for North Kingstown demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in North Kingstown.
Businesses
As a new North Kingstown entrepreneur, you may also be interested in the table below. It shows how many businesses there are in North Kingstown 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
Forming a Company in North Kingstown, 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 traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation is a very popular way to form a business. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Rhode Island, you don't necessarily have to incorporate in Rhode Island. In fact, 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 Subchapter S Corporations. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in North Kingstown, Rhode Island, our web page covering Incorporating in Rhode Island may be a useful resource if you decide to incorporate in Rhode Island.
Getting Money to Start a Business
Raising money to fund your new North Kingstown business requires strong organization skills and perseverance. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.
To learn about raising money, we recommend you read the fundraising articles on our site, such as Business Line of Credit.
For North Kingstown entrepreneurs in need of startup financing, you'll want to take a look at our List of Rhode Island Angel Investors and our List of Rhode Island Venture Capital Firms.
Marketing Your New Venture
Whether your goal is to attract North Kingstown customers or you plan on selling elsewhere, having an excellent marketing plan is fundamental to your succeeding.
We have some useful resources on this site for entrepreneurs who are working on marketing plans. Advertising on Google is an article that will stimulate a few thoughts on your marketing plan. That's just a taste of the many useful articles we have on Marketing a Small Business.
How to Sell
Do you know how to sell? In order to attract customers to your new North Kingstown business, you need to focus on sales.
Good selling involves demonstrating that your wares meet your customer's needs. The good news is we can help you to make selling a big competitve advantage for your new firm.
Selling with Questions 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.
Never Give Up
As an entrepreneur in North Kingstown, you won't be working for the boss anymore. You are the boss.
Owning your own business will be a daunting task, but you can do it.
Our goal here is to promote the vitality and growth of small businesses in North Kingstown and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in North Kingstown, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in North Kingstown, Rhode Island
Here are more links that we believe will help you be successful in starting a business in North Kingstown.
- Resources for North Kingstown, Rhode Island Entrepreneurs - Browse a variety of resources we've collected to assist North Kingstown entrepreneurs.
- Rhode Island Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Rhode Island.
- Rhode Island Small Business Development Center - The Rhode Island Small Business Development Center provides entrepreneurs with best fit resources to create and transform their businesses.
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