New York Business Startup Guides
Opening a Business in Elmira, New York
Contemplating starting a business in Elmira, New York? We walk you through the process of opening a business in Elmira.
Is Becoming an Entrepreneur Right for You?
Most new businesses fail, in part because the business owner did not have the perseverance and abilities that are necessary to succeed. So, before jumping into the world of entrepreneurship, consider all of the implications of being an entrepreneur.
With so much at stake when you start a business, we strongly recommend you do the following before you proceed:
- Talk to other entrepreneurs in Elmira. Get their take on what it's really like to be an entrepreneur.
- We recommend reading Characteristics of Successful Entrepreneurs. For aspiring new entrepreneurs, it's a must read article.
- Seek the advice of somebody who knows you well. That's the best way to get a truly objective assessment as to whether others think you have what it takes.
Elmira, New York Demographic Information
Elmira has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Elmira demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Elmira.
Businesses
As a new Elmira entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Elmira 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
Picking a Company 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.
Company names need to be easy to spell, easy to pronounce, and easy to remember.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Company.
There's one other important factor when naming a business. Since you are opening a business in Elmira, it's imperative that you check now that no other New York company is using the business name you want to use.
Forming a Company in Elmira, New York
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Without a legal structure for the business, you can be held personally liable for the actions, debts and obligations of your company.
The entity you form can be a corporation, LLC, sole proprietorship, partnership or other structure.
Incorporating is a very common way to legally create a business entity. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in New York, it doesn't mean you are required to incorporate in New York. As it turns out, you are allowed to incorporate wherever you want. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.
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 Where to Incorporate. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Elmira, New York, our information on Incorporating in New York may be a useful resource if you decide to incorporate in New York.
Startup Financing Basics
Getting your Elmira business the capital it needs to succeed is a difficult chore. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.
The good news is this site contains dozens of articles on raising money, including one we recommend entitled Only Idiots Send Venture Capitalists Business Plans.
For Elmira entrepreneurs on the hunt for startup funding, check out our List of New York Angel Investors and our List of New York Venture Capital Firms.
The Art of Selling
Mastering the art of selling is essential if you want your new Elmira business to do well.
Why should customers buy from you instead of buying from competitors? Fortunately, we've got plenty of good advice to help you improve your selling skills.
Compensating Sales People is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.
How to Improve Your Entrepreneurial Abilities
Good entrepreneurs recognize that what they know now may not be enough to ensure their future success.
As an entrepreneur who lives in Elmira, New York, you will want to take advantage of the many programs available at nearby New York universities, colleges and community colleges. It's also smart to see if there are any Elmira networking organizations.
Moving Forward
Most new Elmira businesses underestimate the number of challenges they will face.
If you choose the right business and love what you do, you will greatly increase your odds of success.
Our goal here is to promote the vitality and growth of small businesses in Elmira and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Elmira, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Elmira, New York
Here are more links that we believe will help you be successful in starting a business in Elmira.
- Resources for Elmira, New York Entrepreneurs - Browse a variety of resources we've collected to assist Elmira entrepreneurs.
- New York Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in New York.
- New York Small Business Development Center - The New York State Small Business Development Center delivers high quality business counseling and training to New Yorkers who want to start a business or improve the performance of an existing business.
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