Oregon Business Startup Guides
Starting a Business in Madras, Oregon
Thinking about starting a business in Madras, Oregon? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Madras.
What Business to Start
Choosing a business that is right for you is very important. We recommend that you read Evaluating Your Idea.
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 Opening an Adhesive & Glue Equipment Business guide or our Opening a Printing Rollers Business guide.
Always keep in mind that starting a business in Madras has some implications. The business you want to start may already be well-represented in Madras. Make sure you fully understand Madras demographics before you lock in on your business idea.
Madras, Oregon Demographic Information
Madras has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Madras demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Madras.
As a new Madras entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Madras 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.
Naming the Company
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.
Pick a company name that isn't too generic. If you do a search engine search for your proposed name and a billion results come up, you may want to reconsider the name. It's much easier to come up in the search engines when your name is fairly unique.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Business.
On a final note, given that you are opening a business in Madras, it's imperative that you check now that no other Oregon company is using the business name you want to use.
Forming a Company in Madras, Oregon
It's essential that you form your business as a legal structure. Doing so will shield you from personal liability for business debts and obligations.
The entity you form can be 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. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Oregon, you don't necessarily have to incorporate in Oregon. As it turns out, 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 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 Getting an EIN. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Madras, Oregon, our information on Incorporating in Oregon may be a useful resource if you decide to incorporate in Oregon.
Marketing Your New Business
Whether your goal is to attract Madras customers or you plan on selling elsewhere, you'll need to have a good marketing plan.
We have some helpful resources on this site for entrepreneurs who are working on marketing plans. Business Logo Design discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. That's just one of the many useful articles we have on Marketing a Small Business.
Building Up Your Sales
Mastering the art of selling is priority one if you want your new Madras business to do well.
Why should customers buy from you instead of buying from competitors? Let us help you refine your selling techniques through our many useful sales advice tips.
Most new Madras businesses underestimate the number of challenges they will face.
Owning your own business will be a daunting task, but you can do it.
We are here to help Madras businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Madras, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Madras, Oregon
Here are more links that we believe will help you be successful in starting a business in Madras.
- Resources for Madras, Oregon Entrepreneurs - Browse a variety of resources we've collected to assist Madras entrepreneurs.
- Oregon Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Oregon.
- Oregon Small Business Development Center - Oregon Small Business Development Centers use a client-centered approach to deliver counseling, training, information and technical assistance in all aspects of small business management. There is no fee for their assistance.
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