Connecticut Business Startup Guides
Starting a Business in Lakeville, Connecticut
Thinking about starting a business in Lakeville, Connecticut? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Lakeville.
What Business Are You Starting?
There are many businesses that you can start. How do you know which type of business is right for you? To help you decide on a business type, we encourage you to read Finding Your Niche in Life.
For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our Starting a Dance Club guide or our Starting a Tatoo Parlor guide.
Remember that you are opening your new business in Lakeville. Some businesses will do better in Lakeville than others. A critical consideration is whether Lakeville demographics mesh well with your startup concept.
Lakeville, Connecticut Demographic Information
Lakeville has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Lakeville demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Lakeville.
Businesses
As a new Lakeville entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Lakeville 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
What About Buying an Existing Lakeville Business?
We've created a useful website page for those who want to Buy a Business in Connecticut. Follow that link and you may find several good businesses for sale in Lakeville.
If you are serious about buying a business, you may want to read this article: Hold Harmless Agreements When Buying Businesses.
Company Formation in Lakeville, Connecticut
It's very important that your business is formed as a legal entity that is separate from its owners. Among other things, forming a legal entity for the business limits your liabilities.
The entity you form can be a corporation, LLC, sole proprietorship, partnership or other structure.
Incorporation 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. As it turns out, you are allowed to incorporate in the state of your choosing. 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'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 ESOP Formation. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Lakeville, Connecticut, our information on Incorporating in Connecticut may be a useful resource if you decide to incorporate in Connecticut.
Don't Forget to Create a Business Plan
A business plan is vital to the health of your new business. Simply put, a business plan is a written description of the future you envision for your business. Not having a business plan is a recipe for disaster.
If writing a business plan is on your to-do list, be sure to read Business Plan Contests. You can also get free counseling sessions provided by your local SCORE chapter in Connecticut.
Promoting Your New Venture
Whether your goal is to attract Lakeville customers or you plan on selling elsewhere, having an excellent marketing plan is fundamental to your succeeding.
You can learn quite a bit about marketing on our site. Direct Mail Costs 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.
What's Next?
You have a dream -- starting a business in Lakeville. To achieve your dream, you have to persevere, even when the odds are against you.
From this point on, you control your own destiny.
We are here to help Lakeville businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Lakeville 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 Lakeville, Connecticut
Here are more links that we believe will help you be successful in starting a business in Lakeville.
- Resources for Lakeville, Connecticut Entrepreneurs - Browse a variety of resources we've collected to assist Lakeville 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.
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