Open a Business in Norwich, Connecticut

Are you starting a business in Norwich, Connecticut? This article discusses the most important things to consider when opening a business in Norwich.

Norwich, Connecticut Demographic Information

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

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

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

Choosing a Business Name

A big decision when starting a company is choosing a company name. Believe it or not, choosing a good company name can be a big contributor to your business success.

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.

For other considerations regarding naming a company, we recommend this article: Naming a Business.

There's one other important factor when naming a business. Since you are opening a business in Norwich, it's very important that you make sure no other Connecticut company is using the business name you want to use.

Company Formation in Norwich, Connecticut

It's essential that you choose the right legal structure for your new entity. 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. Just because you are starting a business in Connecticut, you don't necessarily have to incorporate in Connecticut. 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'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 Why Incorporate in Delaware. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Norwich, Connecticut, our information on Incorporating in Connecticut may be a useful resource if you decide to incorporate in Connecticut.

Startup Financing Basics

Getting your Norwich business the capital it needs to succeed will be harder than you might expect. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.

Take advantage of our many articles on raising capital, such as 504 Loans.

For Norwich entrepreneurs who need startup capital, check out our List of Connecticut Angel Investors and our List of Connecticut Venture Capital Firms.

Promoting Your New Business

Whether your goal is to attract Norwich customers or you plan on selling elsewhere, you'll need to have a good marketing plan.

You can learn quite a bit about marketing on our site. Seven Marketing Ideas for Your Small Business is a good read to get your marketing thoughts flowing. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.

How to Improve Your Entrepreneurial Abilities

The best entrepreneurs know that what they know now may not be enough to ensure their future success.

Given that you are starting a business in Norwich, Connecticut, you will want to take advantage of the learning programs at local Connecticut educational institutions. It's also worthwhile to see if there are any Norwich networking organizations.

Moving Forward

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

Owning your own business will be a daunting task, but you can do it.

We are here to help Norwich businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Norwich, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Norwich, Connecticut

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

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