Contemplating starting a business in Ontario, Wisconsin? We walk you through the process of opening a business in Ontario.
Are You Ready for the Challenges of Being an Entrepreneur?
Being an entrepreneur is hard work, much harder than working as an employee. Are you positive you have the stamina and skills to succeed on your own?
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Reach out to other entrepreneurs in Ontario. Listen closely to their experiences and see if you think you too can be successful.
- Peruse Why Small Businesses Fail. This is one of our more popular articles for folks who want to go into business for themselves.
- Get feedback from somebody whom you trust. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.
Ontario, Wisconsin Demographic Information
Ontario has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Ontario demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Ontario.
|Business Size||# of|
|All Ontario Businesses
As a new Ontario entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Ontario 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.
Custom Computer Programming Services
General Rental Centers
Musical Instrument Manufacturing
Offices of Real Estate Appraisers
Recreational Goods Rental
Is Buying an Existing Ontario Business a Good Strategy?
We've created a helpful website page for those who want to Buy a Business in Wisconsin. Follow that link and you may find several good businesses for sale in Ontario.
Before buying a business, be sure to read this article: How to Buy a Business.
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.
For other considerations regarding naming a company, we recommend this article: Naming a Company.
There's one other important factor when naming a business. Since you are opening a business in Ontario, it's critical that you ensure that no other Wisconsin company is using the business name you want to use.
Company Formation in Ontario, Wisconsin
It's essential that you are forming a legal entity that operates independently from you. Doing so will separate 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 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 Wisconsin, it doesn't mean you are required to incorporate in Wisconsin. In fact, you are allowed to incorporate in the state of your choosing. 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 Why Incorporate in Delaware. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Ontario, Wisconsin, our information on Incorporating in Wisconsin may be a useful resource if you decide to incorporate in Wisconsin.
Raising Money for Your New Venture
Getting your Ontario business the capital it needs to succeed is very difficult due to the ongoing business credit crunch. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.
To learn about raising money, we recommend you read the fundraising articles on our site, such as Getting a Small Business Loan.
For Ontario entrepreneurs on the hunt for startup funding, check out our List of Wisconsin Angel Investors and our List of Wisconsin Venture Capital Firms.
Building Up Your Sales
Do you know how to sell? In order to attract customers to your new Ontario business, you need to focus on sales.
Not knowing how to sell can result in lost customers and minimal market share. Let us help you refine your selling techniques through our many useful sales advice tips.
Anticipating Prospect Responses offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
Never Give Up
As an entrepreneur in Ontario, you won't be working for the boss anymore. You are the boss.
Owning your own business will be a daunting task, but you can do it.
We are here to help Ontario businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Ontario, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Ontario, Wisconsin
Here are more links that we believe will help you be successful in starting a business in Ontario.