Ohio Business Startup Guides
Starting a Business in Oxford, Ohio
Thinking about starting a business in Oxford, Ohio? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Oxford.
Are You Sure You Want to Do This?
Before you get too far along in the process, consider your entrepreneurial instincts and capabilities.
Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:
- Reach out to other entrepreneurs in Oxford. Ask them candidly what it's like to run a business.
- Peruse Characteristics of Successful Entrepreneurs. This is one of our more popular articles for folks who want to go into business for themselves.
- Seek the advice of somebody who knows you well. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
Oxford, Ohio Demographic Information
Oxford has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Oxford demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Oxford.
As a new Oxford entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Oxford 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.
Forming a Company in Oxford, Ohio
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Without a legal structure for the business, you can be held personally liable for the actions, debts and obligations of your company.
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. 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 Ohio, you don't necessarily have to incorporate in Ohio. In fact, you can 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 are many nuances to forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Incorporating Online. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Oxford, Ohio, our information on Incorporating in Ohio may be a useful resource if you decide to incorporate in Ohio.
Don't Skip the Business Plan
A business plan is vital 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. Not having a business plan is a recipe for disaster.
Startup Financing Basics
Getting your Oxford business the capital it needs to succeed will be harder than you might expect. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.
To learn about raising money, we recommend you read the fundraising articles on our site, such as 504 Loans.
How to Improve Your Entrepreneurial Abilities
The best entrepreneurs recognize that they don't know everything.
As an entrepreneur who lives in Oxford, Ohio, you will want to take advantage of the many programs available at nearby Ohio universities, colleges and community colleges. It's also smart to see if there are any networking organizations for Oxford entrepreneurs.
You have a dream -- starting a business in Oxford. To achieve your dream, you have to persevere, even when the odds are against you.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Oxford 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 Oxford, Ohio
Here are more links that we believe will help you be successful in starting a business in Oxford.
- Resources for Oxford, Ohio Entrepreneurs - Browse a variety of resources we've collected to assist Oxford entrepreneurs.
- Ohio Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Ohio.
- Ohio Small Business Development Center - Whether you're starting your business, expanding your business, or just looking to stay in business, the Small Business Development Centers of Ohio (SBDCs of Ohio) can help with professional guidance by connecting you with research, financing sources, and training opportunities.
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