Connecticut Business Startup Guides
Opening a Business in Watertown, Connecticut
Contemplating starting a business in Watertown, Connecticut? We walk you through the process of opening a business in Watertown.
Is Becoming a Business Owner Right for You?
Most startup businesses do not succeed, in part because the founder did not have the tenacity and/or the skills 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 Watertown. Get their take on what it's really like to be an entrepreneur.
- Take a look at Starting a Company. It's a short article but it's a good reality check for those are about to jump into the world of entrepreneurship.
- Talk it over with a close friend or partner. That's the best way to get a truly objective assessment as to whether others think you have what it takes.
Watertown, Connecticut Demographic Information
Watertown has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Watertown demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Watertown.
Businesses
As a new Watertown entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Watertown 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
Have You Considered Buying an Existing Watertown Business?
An excellent way to get started in business is to Buy a Business in Connecticut. Follow that link and you may find several good businesses for sale in Watertown.
If you are serious about buying a business, you may want to read this article: Hold Harmless Agreements When Buying Businesses.
Choosing a Business Name
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.
Before you decide on a company name, run it by some prospective customers and see what they think. If they don't like it, it's probably a good idea to go back to the drawing board.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Company.
On a final note, given that you are planning on starting a business in Watertown, it's imperative that you check now that no Connecticut company has already registered the company name you have selected.
Company Formation in Watertown, Connecticut
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.
Incorporating is a very common way to legally create a business entity. 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. To learn the basics of company formation, browse articles on our site, such as How to Incorporate. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Watertown, Connecticut, our web page covering Incorporating in Connecticut may be a useful resource if you decide to incorporate in Connecticut.
Getting the Word Out About Your New Company
To rise above the crowd in Watertown and accelerate your business, having an excellent marketing plan is fundamental to your succeeding.
We have some helpful resources on this site for entrepreneurs who are working on marketing plans. Marketing Versus Sales discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. That's just a taste of the many useful articles we have on Marketing a Small Business.
Moving Forward
Most new Watertown businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
Our goal here is to promote the vitality and growth of small businesses in Watertown and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Watertown, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Watertown, Connecticut
Here are more links that we believe will help you be successful in starting a business in Watertown.
- Resources for Watertown, Connecticut Entrepreneurs - Browse a variety of resources we've collected to assist Watertown 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 Startup Articles for Connecticut Cities
Starting a Business in Waterbury
Starting a Business in West Hartford
Browse All Business Startup Guides for Connecticut
Starting a Business Guides for Other States
Share this article
Additional Resources for Entrepreneurs