Georgia Business Startup Guides
Open a Business in McDonough, Georgia
Need help starting a business in McDonough, Georgia? We've got the information you need to open a business in McDonough.
Will You Be a Good Entrepreneur?
Before announcing to the world that you are going to start your own business, take inventory of your entrepreneurial instincts and capabilities.
To determine whether you have what it takes to run a business, we recommend these three steps to help you decide:
- Speak with other entrepreneurs in McDonough. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
- You should read Starting a Company. It's a good read for those who are thinking about becoming an entrepreneur.
- Talk it over with a close friend or partner. Others sometimes know you better than you know yourself.
McDonough, Georgia Demographic Information
McDonough has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for McDonough demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in McDonough.
Businesses
As a new McDonough entrepreneur, you may also be interested in the table below. It shows how many businesses there are in McDonough 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 McDonough Business?
We've created a helpful website page for those who want to Buy a Business in Georgia. Follow that link and you can assess several good businesses for sale in McDonough.
If you are headed down the path of buying a business, you may want to read this article: How to Buy a Business.
Naming the Business
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.
For other considerations regarding naming a company, we recommend this article: Branding Advice.
There's one other important factor when naming a business. Since you are opening a business in McDonough, it's very important that you make sure no other Georgia company is using the business name you want to use.
Forming a Company in McDonough, Georgia
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.
The entity you form can be a corporation, LLC, sole proprietorship, partnership or other structure.
Incorporating 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. If you are starting a business in Georgia, it doesn't mean you are required to incorporate in Georgia. In fact, 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 are many nuances to forming a company. To learn the fundamentals of company formation, browse articles on our site, such as ESOP Formation. You may also want to seek the advice of an attorney. Finally, if you are starting a business in McDonough, Georgia, our information on Incorporating in Georgia may be a useful resource if you decide to incorporate in Georgia.
Don't Forget to Create a Business Plan
A business plan is essential in laying a solid foundation for your business success. Simply put, your business plan is your game plan for how you hope to grow your business. Starting a business without a business plan is a recipe for disaster.
If you want more information on writing business plans, we recommend reading Business Plan Contests. You can also get free business counselors available to you through your local SCORE chapter in Georgia.
What's Next?
You have a dream -- starting a business in McDonough. To achieve your dream, you have to persevere, even when the odds are against you.
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 McDonough and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in McDonough, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in McDonough, Georgia
Here are more links that we believe will help you be successful in starting a business in McDonough.
- Resources for McDonough, Georgia Entrepreneurs - Browse a variety of resources we've collected to assist McDonough entrepreneurs.
- Georgia Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Georgia.
- Georgia Small Business Development Center - The Georgia SBDC program helps Georgia entrepreneurs with developing business plans, providing financial analysis, identifying sources of capital, and assessing marketing strategies.
More Startup Articles for Georgia Cities
Starting a Business in Marietta
Starting a Business in McRae
Browse All Business Startup Guides for Georgia
Starting a Business Guides for Other States
Share this article
Additional Resources for Entrepreneurs