West Virginia Business Startup Guides
Opening a Business in New Martinsville, West Virginia
Contemplating starting a business in New Martinsville, West Virginia? We walk you through the process of opening a business in New Martinsville.
Are You Sure You Want to Do This?
Before you get too far along in the process, assess your entrepreneurial instincts and capabilities.
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Talk to other entrepreneurs in New Martinsville. Ask them candidly what it's like to run a business.
- We recommend reading Should You Become an Entrepreneur?. For aspiring new entrepreneurs, it's a must read article.
- Have a candid conversation with friends and family. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
New Martinsville, West Virginia Demographic Information
New Martinsville has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for New Martinsville demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in New Martinsville.
Businesses
As a new New Martinsville entrepreneur, you may also be interested in the table below. It shows how many businesses there are in New Martinsville 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 Franchising?
As you drive around New Martinsville, you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you?
Most business experts recommend that you evaluate the possibility of your buying a franchise opportunity. We have many articles on franchises, such as Benefits of Owning A Franchise. Become a franchising expert of sorts by reading more of our Articles on Franchising.
You can review hundreds of franchise opportunities by browing our Franchise Directory.
Sample franchise opportunities include CM IT Solutions and Earl of Sandwich. Alternatively, you can browse franchise categories, such as Restaurant Services Franchises and Telecommunications Franchises.
Note on New Martinsville Franchise Opportunities: To find out if a franchise you are interested in is available in New Martinsville, you will need to get in direct contact with the franchisor.
What About Buying an Existing New Martinsville Business?
We've created a useful website page for those who want to Buy a Business in West Virginia. Follow that link and you can review several good businesses for sale in New Martinsville.
If you are serious about buying a business, you may want to read this article: Buying a Business.
Company Formation in New Martinsville, West Virginia
It's very important that you choose the right legal structure for your new entity. Among other things, forming a legal entity for the business limits your liabilities.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation 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. Just because you are starting a business in West Virginia, it doesn't mean you are required to incorporate in West Virginia. As it turns out, you are allowed to incorporate wherever you want. 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 Incorporation Advice. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in New Martinsville, West Virginia, our information on Incorporating in West Virginia may be a useful resource if you decide to incorporate in West Virginia.
Advancing Your Entrepreneurial Skills
The best entrepreneurs know that they need to continually improve.
As an entrepreneur who lives in New Martinsville, West Virginia, you will want to take advantage of the learning programs at local West Virginia educational institutions. It's also worthwhile to see if there are any networking groups or organizations in which New Martinsville entrepreneurs get together to network and trade their business experiences.
Next Steps
You have a dream -- starting a business in New Martinsville. To achieve your dream, you have to persevere, even when the odds are against you.
Owning your own business will be a daunting task, but you can do it.
This site is all about helping entrepreneurs in New Martinsville and elsewhere to achieve real success. We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.
More Entrepreneurial Resources for Starting a Business in New Martinsville, West Virginia
Here are more links that we believe will help you be successful in starting a business in New Martinsville.
- Resources for New Martinsville, West Virginia Entrepreneurs - Browse a variety of resources we've collected to assist New Martinsville entrepreneurs.
- West Virginia Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in West Virginia.
- West Virginia Small Business Development Center - The West Virginia Small Business Development Center (WVSBDC) promotes economic development through a program of practical, interrelated services, providing assistance to existing West Virginia small businesses and the emerging West Virginia entrepreneur.
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