August 13, 2020  
 
  Entrepreneurial Resources - Advice for Indiana Entrepreneurs  
  New Albany, Indiana Resources for Entrepreneurs  
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Opening a Business in New Albany, Indiana

Contemplating starting a business in New Albany, Indiana? We walk you through the process of opening a business in New Albany.

What Business to Start

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 Business Ideas That Don't Make Sense.

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 Dating Service guide or our How to Start a Mutual Fund Insurance Business guide.

Remember that your new startup will be located in New Albany. Some businesses will do better in New Albany than others. Make sure you fully understand New Albany demographics before you lock in on your business idea.

New Albany, Indiana Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 9820
5-9 Employees 4440
10-19 Employees 2835
20-49 Employees 2265
50-99 Employees 675
100-249 Employees 435
250-499 Employees 75
500-999 Employees 60
1000+ Employees 15
All New Albany Businesses 20620

As a new New Albany entrepreneur, you may also be interested in the table below. It shows how many businesses there are in New Albany 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
Advertising Agencies 5
Air and Gas Compressor Manufacturing 1
Architectural Services 4
Audio and Video Equipment Manufacturing 1
Automotive Exhaust System Repair 1
Automotive Parts and Accessories Stores 5
Automotive Transmission Repair 1
Beauty Salons 16
Beer and Ale Merchant Wholesalers 1
Beer, Wine, and Liquor Stores 9
Book Stores 2
Bowling Centers 1
Building Inspection Services 1
Business Associations 2
Cafeterias 3
Car Washes 3
Carpet and Upholstery Cleaning Services 1
Caterers 2
Cemeteries and Crematories 1
Child and Youth Services 2
Child Day Care Services 16
Civic and Social Organizations 7
Coin-Operated Laundries and Drycleaners 5
Collection Agencies 1
Commercial Flexographic Printing 1
Commercial Lithographic Printing 5
Commercial Screen Printing 1
Computer Systems Design Services 4
Construction Machinery Manufacturing 1
Consumer Lending 2
Convenience Stores 2
Convention and Trade Show Organizers 1
Cosmetology and Barber Schools 1
Credit Unions 4
Curtain and Drapery Mills 1
Custom Compounding of Purchased Resins 1
Custom Computer Programming Services 4
Custom Roll Forming 1
Dental Laboratories 4
Diagnostic Imaging Centers 1
Diet and Weight Reducing Centers 1
Digital Printing 1
Direct Life Insurance Carriers 4
Direct Mail Advertising 3
Direct Title Insurance Carriers 3
Directory and Mailing List Publishers 1
Discount Department Stores 3
Document Preparation Services 2
Drafting Services 1
Drinking Places (Alcoholic Beverages) 5
Drywall and Insulation Contractors 4
Electric Power Distribution 2
Electrical Contractors 10
Electronic Connector Manufacturing 1
Electronic Shopping 1
Employment Placement Agencies 1
Engineering Services 12
Environmental Consulting Services 3
Exam Preparation and Tutoring 1
Exterminating and Pest Control Services 4
Family Clothing Stores 1
Family Planning Centers 1
Fine Arts Schools 1
Finish Carpentry Contractors 4
Fitness and Recreational Sports Centers 7
Floor Covering Stores 3
Flooring Contractors 3
Florists 4
Food (Health) Supplement Stores 2
Food Service Contractors 3
Freight Transportation Arrangement 1
Full-Service Restaurants 26
Funeral Homes and Funeral Services 8
Furniture Stores 5
General Automotive Repair 9
General Freight Trucking, Local 4
General Medical and Surgical Hospitals 1
General Rental Centers 3
General Warehousing and Storage 1
Gift, Novelty, and Souvenir Stores 4
Golf Courses and Country Clubs 1
Grantmaking Foundations 1
Graphic Design Services 3
Hardware Merchant Wholesalers 1
Hardware Stores 3
Hobby, Toy, and Game Stores 1
Home Centers 1
Home Furnishing Merchant Wholesalers 1
Home Health Care Services 7
Home Health Equipment Rental 1
Homes for the Elderly 1
Industrial Building Construction 1
Industrial Design Services 1
Insurance Agencies and Brokerages 38
Interior Design Services 3
Investment Advice 1
Janitorial Services 9
Jewelry Stores 5
Kidney Dialysis Centers 1
Land Subdivision 2
Landscape Architectural Services 2
Landscaping Services 8
Leather and Hide Tanning and Finishing 1
Lessors of Other Real Estate Property 2
Limited-Service Restaurants 45
Livestock Merchant Wholesalers 1
Machine Shops 13
Mail-Order Houses 2
Manifold Business Forms Printing 1
Manufactured (Mobile) Home Dealers 1
Marketing Consulting Services 2
Masonry Contractors 5
Mattress Manufacturing 2
Meat Markets 1
Media Representatives 1
Medical Laboratories 1
Metal Stamping 1
Miscellaneous Intermediation 2
Mortgage and Nonmortgage Loan Brokers 1
Motion Picture and Video Production 1
Motor Vehicle Towing 2
Motorcycle Dealers 2
Musical Groups and Artists 1
Musical Instrument and Supplies Stores 1
Nail Salons 1
New Car Dealers 1
New Housing Operative Builders 1
Newspaper Publishers 1
Nonresidential Property Managers 3
Nursing Care Facilities 6
Office Administrative Services 4
Office Equipment Merchant Wholesalers 1
Office Supplies and Stationery Stores 3
Offices of Bank Holding Companies 1
Offices of Certified Public Accountants 3
Offices of Chiropractors 8
Offices of Dentists 24
Offices of Lawyers 40
Offices of Optometrists 5
Offices of Podiatrists 3
Offices of Real Estate Appraisers 6
Open-End Investment Funds 1
Ophthalmic Goods Manufacturing 1
Packaging and Labeling Services 2
Paint and Coating Manufacturing 1
Paint and Wallpaper Stores 2
Painting and Wall Covering Contractors 8
Parking Lots and Garages 1
Payroll Services 1
Periodical Publishers 1
Perishable Prepared Food Manufacturing 1
Pet and Pet Supplies Stores 4
Pet Care (except Veterinary) Services 1
Petroleum Bulk Stations and Terminals 1
Pharmacies and Drug Stores 8
Photography Studios, Portrait 4
Plastics Plumbing Fixture Manufacturing 1
Polystyrene Foam Product Manufacturing 1
Portfolio Management 6
Printing Ink Manufacturing 1
Private Mail Centers 1
Quick Printing 1
Ready-Mix Concrete Manufacturing 1
Real Estate Credit 6
Remediation Services 3
Residential Property Managers 4
Residential Remodelers 12
Retail Bakeries 4
Reupholstery and Furniture Repair 2
Roofing Contractors 4
Savings Institutions 1
School and Employee Bus Transportation 1
Securities Brokerage 10
Septic Tank and Related Services 1
Sewage Treatment Facilities 1
Shoe Stores 4
Sign Manufacturing 1
Site Preparation Contractors 2
Snack and Nonalcoholic Beverage Bars 6
Solid Waste Collection 2
Sound Recording Studios 1
Sporting Goods Stores 2
Sports and Recreation Instruction 2
Tax Preparation Services 6
Telecommunications Resellers 1
Telephone Answering Services 3
Temporary Help Services 3
Temporary Shelters 1
Testing Laboratories 2
Tile and Terrazzo Contractors 2
Tire and Tube Merchant Wholesalers 3
Tire Dealers 5
Title Abstract and Settlement Offices 6
Tobacco Stores 5
Travel Agencies 2
Used Car Dealers 5
Used Merchandise Stores 10
Vending Machine Operators 1
Veterinary Services 3
Video Tape and Disc Rental 6
Vocational Rehabilitation Services 3
Voluntary Health Organizations 1
Warehouse Clubs and Supercenters 2
Wholesale Trade Agents and Brokers 5
Window Treatment Stores 1
Wired Telecommunications Carriers 6
Women's Clothing Stores 3
Wood Container and Pallet Manufacturing 2
Wood Office Furniture Manufacturing 1
Wood Window and Door Manufacturing 2

Is a Franchise Opportunity Right For You?

Examine a list of New Albany businesses and it becomes clear that purchasing a franchise is a common way to get started as an entrepreneur. But is franchising the right option for you?

We advise the entrepreneurs we work with to investigate buying a franchise. We have many articles on franchises, such as Franchise Law. 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.

Sample franchise opportunities include Raine & Horne and Genghis Grill. Alternatively, you can browse franchise categories, such as B2B Franchises and Hair Styling Franchises.

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

Choosing 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.

Even if the name doesn't do it by itself, many naming experts believe there should be a story behind the name that ties into your company mission.

Numerous company naming issues are discussed in more detail in this article: Naming a Company.

As a final piece of advice, remember that because you are starting a business in New Albany, it's imperative that you check now that your company name has not already been claimed by another Indiana business.

Company Formation in New Albany, Indiana

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.

When forming a company, you will choose from many company types, such as 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. Just because you are starting a business in Indiana, you don't necessarily have to incorporate in Indiana. In fact, you are allowed to 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'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 Getting an EIN. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in New Albany, Indiana, our web page covering Incorporating in Indiana may be a useful resource if you decide to incorporate in Indiana.

Don't Skip the Business Plan

Creating a business plan is critical to the health of your new business. In effect, your business plan is your game plan for how you hope to grow your business. Not having a business plan

If you want more information on writing business plans, we recommend reading Expert Advice on Business Plans. A great resource for business planning assistance is the face-to-face free consulting available from your local SCORE chapter in Indiana.

Moving Forward

Most new New Albany businesses underestimate the number of challenges they will face.

From this point on, you control your own destiny.

Our goal here is to promote the vitality and growth of small businesses in New Albany and throughout the United States . We want to be there for you to answer your business questions, whether you are a new New Albany 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 New Albany, Indiana

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

 

 

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