Starting a Business in Newark, Delaware

Thinking about starting a business in Newark, Delaware? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Newark.

Newark, Delaware Demographic Information

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

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

As a new Newark entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Newark 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.

Is a Franchise Opportunity Right For You?

As you drive around Newark, you'll notice that many local entrepreneurs have gone the franchising route. Should you be giving franchising serious consideration?

Our recommendation is that you consider franchising as an option. We have many articles on franchises, such as Evaluating Franchise Opportunities. Get a thorough education on franchising by browsing all of our Articles on Franchising.

To learn about specific franchise opportunities, check out our Franchise Directory.

Representative franchise opportunities include Nextaff and Sport Clips. Alternatively, you can browse franchise categories, such as Sports Franchises and Carpet Retail Franchises.

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

Have You Considered Buying an Existing Newark Business?

We've created a helpful website page for those who want to Buy a Business in Delaware. Follow that link and you can review several good businesses for sale in Newark.

If you are serious about buying a business, you may want to read this article: Buying a Business.

Company Formation in Newark, Delaware

It's essential 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.

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 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 Delaware, you don't necessarily have to incorporate in Delaware. In fact, 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's a lot to know about forming a company. To learn the fundamentals of company formation, browse articles on our site, such as Where to Incorporate. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Newark, Delaware, our web page covering Incorporating in Delaware may be a useful resource if you decide to incorporate in Delaware.

Don't Skip the Business Plan

A business plan is critical in laying a solid foundation for your business success. Indeed, a business plan describes what you plan to do with the business and how you plan to do it. Not having a business plan is a recipe for disaster.

To learn more about business plans, read Business Plan Software. You can also get face-to-face free consulting available from your local SCORE chapter in Delaware.

Advancing Your Entrepreneurial Skills

Good entrepreneurs know that they don't know everything.

Given that you are starting a business in Newark, Delaware, you should check out some of the learning programs at local Delaware educational institutions. Another way to keep up on your learning is to investigate Newark networking organizations.

Moving Forward

You have a dream -- starting a business in Newark. 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 Newark and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Newark 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 Newark, Delaware

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

• Resources for Newark, Delaware Entrepreneurs - Browse a variety of resources we've collected to assist Newark entrepreneurs.
• Delaware Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Delaware.
• Delaware Small Business Development Center - The Delaware Small Business Development Center helps Delaware entrepreneurs grow and manage their small businesses by providing them with access to business information, training, and counseling.