August 3, 2020  
 
  Entrepreneurial Resources - Advice for Indiana Entrepreneurs  
  Hamilton, Indiana Resources for Entrepreneurs  
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Starting a Business in Hamilton, Indiana

Thinking about starting a business in Hamilton, Indiana? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Hamilton.

Are You Ready for the Challenges of Being an Entrepreneur?

Most startup companies don't make it, in part because the business owner did not have the tenacity and/or the skills to succeed. So, before you open a 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:

  • Talk to other entrepreneurs in Hamilton. Listen closely to their experiences and see if you think you too can be successful.
  • 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. 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.

Hamilton, Indiana Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 1710
5-9 Employees 765
10-19 Employees 135
20-49 Employees 405
50-99 Employees 90
100-249 Employees 90
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Hamilton Businesses 3195

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

Business Type # of
Businesses
Boat Dealers 2
Cemeteries and Crematories 1
Civic and Social Organizations 1
Drywall and Insulation Contractors 1
Electrical Contractors 1
Full-Service Restaurants 6
General Freight Trucking, Local 1
General Warehousing and Storage 1
Insurance Agencies and Brokerages 2
Janitorial Services 2
Limited-Service Restaurants 3
Machine Shops 1
Marketing Consulting Services 1
Meat Markets 1
Newspaper Publishers 1
Offices of Real Estate Appraisers 1
Pet Care (except Veterinary) Services 1
Political Organizations 1
Septic Tank and Related Services 1
Sheet Metal Work Manufacturing 2
Tax Preparation Services 1
Used Car Dealers 1
Video Tape and Disc Rental 1

Is a Franchise Opportunity Right For You?

Browse the Yellow Pages for Hamilton and you may be surprised to see how many franchises there are in the area. But is franchising the right option for you?

We highly recommend you investigate buying a franchise. We have many articles on franchises, such as Evaluating Franchise Opportunities. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.

To learn about specific franchise opportunities, check out our Franchise Directory.

Representative franchise opportunities include WIN Home Inspection and Pizza Delight. Alternatively, you can browse franchise categories, such as Wine Franchises and Framing Store Franchises.

Note on Hamilton Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Hamilton.

Have You Considered Buying an Existing Hamilton Business?

An excellent way to get started in business is to Buy a Business in Indiana. Follow that link and you might discover several good businesses for sale in Hamilton.

Before buying a business, be sure to read this article: How to Buy a Business.

Forming a Company in Hamilton, Indiana

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 traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.

Incorporating 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 Indiana, you don't necessarily have to incorporate in Indiana. In fact, you are allowed to incorporate in the state of your choosing. 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 C Corp Versus S Corp. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Hamilton, Indiana, our information on Incorporating in Indiana may be a useful resource if you decide to incorporate in Indiana.

Where to Get Money to Start a Company

Getting your Hamilton business the capital it needs to succeed is a difficult chore. In fact, financing your new business may be the hardest challenge you ever face.

Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Getting a Small Business Loan.

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

Bring in Revenues

Mastering the art of selling is essential if you want your new Hamilton business to do well.

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.

Hiring Good Sales People 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

Most new Hamilton 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.

This site is all about helping entrepreneurs in Hamilton and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Hamilton entrepreneur who is just getting started or you are already up and running with your new venture.

More Entrepreneurial Resources for Starting a Business in Hamilton, Indiana

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

 

 

Additional Resources for Entrepreneurs

Buying a Business

Writing a Business Plan

Raising Money

Incorporate

Small Business Marketing

Advertising Advice

Public Relations -

Customer Service Tips

Entrepreneurial Selling

Workplace Safety