Rhode Island Business Startup Guides

Start a Business in Providence, Rhode Island

Are you starting a business in Providence, Rhode Island? This article discusses the most important things to consider when opening a business in Providence.

Are You Sure You Want to Do This?

Before announcing to the world that you are going to start your own business, consider your entrepreneurial instincts and capabilities.

While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:

  • Grab a meal or cofee with other entrepreneurs in Providence. Ask them candidly what it's like to run a business.
  • Take a look at The Entrepreneurial Personality. It's a short article but it's a good reality check for those are about to jump into the world of entrepreneurship.
  • Reach out to a trusted acquaintance. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.

What Business Are You Starting?

Choosing a business that is right for you is very important. To stir your creative juices on what kind of business to start, take a look at How to Evaluate a Business Idea.

If you still are not sure what type of business to start, peruse the Good Businesses to Start section of our site. For example, you might be interested in our Opening a Real Estate Rental & Leasing Business guide or our Opening a Wood & Laminates Flooring Business guide.

Always keep in mind that you are starting a business in Providence. The business you want to start may already be well-represented in Providence. Only by spending some time analyzing Providence demographics can you decide if there will be strong demand for your business idea.

Providence, Rhode Island Demographic Information

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

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

Business Size
# of
Businesses
1-4 Employees
35992
5-9 Employees
14016
10-19 Employees
9440
20-49 Employees
7080
50-99 Employees
2460
100-249 Employees
1332
250-499 Employees
336
500-999 Employees
144
1000+ Employees
132
All Providence Businesses
70932

As a new Providence entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Providence 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
24
Ambulance Services
2
Amusement Arcades
1
Apprenticeship Training
1
Architectural Services
35
Armored Car Services
1
Art Dealers
3
Automobile Driving Schools
1
Automotive Exhaust System Repair
4
Automotive Glass Replacement Shops
1
Automotive Transmission Repair
3
Baked Goods Stores
7
Barber Shops
6
Beauty Salons
96
Bed-and-Breakfast Inns
6
Beer, Wine, and Liquor Stores
54
Blood and Organ Banks
2
Book Publishers
4
Book Stores
8
Bottled Water Manufacturing
1
Bowling Centers
1
Breweries
1
Building Inspection Services
3
Burial Casket Manufacturing
1
Business Associations
14
Business to Business Electronic Markets
1
Cafeterias
1
Camera and Photographic Supplies Stores
6
Car Washes
7
Carpet and Upholstery Cleaning Services
7
Caterers
9
Charter Bus Industry
1
Cheese Manufacturing
1
Child and Youth Services
15
Child Day Care Services
44
Children's and Infants' Clothing Stores
5
Civic and Social Organizations
43
Claims Adjusting
3
Coffee and Tea Manufacturing
1
Coin-Operated Laundries and Drycleaners
26
Collection Agencies
3
Commercial Bakeries
8
Commercial Flexographic Printing
2
Commercial Lithographic Printing
14
Commercial Photography
5
Commodity Contracts Dealing
2
Community Food Services
4
Computer and Software Stores
6
Computer Facilities Management Services
1
Computer Systems Design Services
38
Computer Training
1
Confectionery and Nut Stores
3
Construction Sand and Gravel Mining
1
Consumer Lending
4
Continuing Care Retirement Communities
4
Convenience Stores
44
Convention and Trade Show Organizers
4
Convention and Visitors Bureaus
1
Cookie and Cracker Manufacturing
2
Couriers
3
Court Reporting and Stenotype Services
3
Credit Bureaus
3
Credit Card Issuing
4
Credit Unions
8
Curtain and Drapery Mills
5
Custom Compounding of Purchased Resins
1
Dental Laboratories
6
Diagnostic Imaging Centers
7
Digital Printing
1
Direct Life Insurance Carriers
8
Direct Title Insurance Carriers
1
Directory and Mailing List Publishers
3
Display Advertising
1
Drafting Services
2
Drinking Places (Alcoholic Beverages)
85
Dry Pasta Manufacturing
1
Drywall and Insulation Contractors
13
Educational Support Services
8
Electric Power Distribution
3
Electrical Contractors
40
Electronic Shopping
6
Elementary and Secondary Schools
28
Emergency and Other Relief Services
2
Employment Placement Agencies
11
Engineering Services
31
Environmental Consulting Services
6
Exam Preparation and Tutoring
10
Fabric Coating Mills
1
Facilities Support Services
2
Family Clothing Stores
24
Family Planning Centers
1
Farm Labor Contractors and Crew Leaders
1
Fine Arts Schools
12
Finish Carpentry Contractors
13
Fitness and Recreational Sports Centers
16
Floor Covering Stores
6
Flooring Contractors
5
Florists
19
Folding Paperboard Box Manufacturing
1
Food (Health) Supplement Stores
6
Food Service Contractors
23
Framing Contractors
5
Freight Transportation Arrangement
3
Fruit and Vegetable Canning
1
Fruit and Vegetable Markets
5
Full-Service Restaurants
210
Funeral Homes and Funeral Services
14
Furniture Merchant Wholesalers
3
General Automotive Repair
43
General Freight Trucking, Local
9
General Medical and Surgical Hospitals
6
General Rental Centers
4
General Warehousing and Storage
5
Gift, Novelty, and Souvenir Stores
28
Glass and Glazing Contractors
3
Grantmaking Foundations
13
Graphic Design Services
43
Hand and Edge Tool Manufacturing
1
Hardware Merchant Wholesalers
1
Hardware Stores
7
Hazardous Waste Collection
2
Heating Oil Dealers
16
Hobby, Toy, and Game Stores
8
Home Centers
1
Home Furnishing Merchant Wholesalers
2
Home Health Care Services
10
Home Health Equipment Rental
1
Homes for the Elderly
5
Household Appliance Stores
3
Industrial Building Construction
1
Industrial Design Services
4
Industrial Launderers
4
Industrial Mold Manufacturing
4
Industrial Pattern Manufacturing
1
Industrial Valve Manufacturing
1
Insurance Agencies and Brokerages
74
Internet Publishing and Broadcasting
5
Internet Service Providers
2
Interurban and Rural Bus Transportation
2
Investigation Services
3
Investment Advice
12
Iron Foundries
1
Janitorial Services
27
Jewelry Stores
38
Junior Colleges
2
Kidney Dialysis Centers
1
Land Subdivision
5
Landscape Architectural Services
6
Landscaping Services
28
Language Schools
2
Libraries and Archives
5
Limited-Service Restaurants
174
Limousine Service
1
Linen Supply
1
Local Messengers and Local Delivery
1
Locksmiths
3
Luggage Manufacturing
1
Mail-Order Houses
7
Manifold Business Forms Printing
1
Marinas
3
Marketing Consulting Services
17
Marking Device Manufacturing
1
Masonry Contractors
13
Materials Recovery Facilities
2
Meat Processed from Carcasses
4
Media Buying Agencies
1
Media Representatives
2
Medical Laboratories
6
Men's Clothing Stores
10
Metal Heat Treating
4
Metal Stamping
10
Miscellaneous Intermediation
6
Mobile Food Services
3
Mortgage and Nonmortgage Loan Brokers
40
Motion Picture and Video Production
7
Motor Vehicle Towing
6
Motorcycle Dealers
1
Museums
6
Musical Instrument and Supplies Stores
1
Nail Salons
4
Narrow Fabric Mills
1
Natural Gas Distribution
4
Navigational Services to Shipping
1
New Car Dealers
6
New Housing Operative Builders
4
News Syndicates
2
Newspaper Publishers
6
Nonresidential Property Managers
18
Nursing Care Facilities
21
Office Administrative Services
20
Office Equipment Merchant Wholesalers
8
Office Supplies and Stationery Stores
4
Offices of Chiropractors
27
Offices of Dentists
69
Offices of Lawyers
356
Offices of Optometrists
13
Offices of Other Holding Companies
9
Offices of Podiatrists
11
Offices of Real Estate Appraisers
6
Ophthalmic Goods Merchant Wholesalers
1
Optical Goods Stores
11
Packaging and Labeling Services
8
Paint and Coating Manufacturing
2
Paint and Wallpaper Stores
2
Painting and Wall Covering Contractors
13
Parking Lots and Garages
30
Payroll Services
3
Periodical Publishers
8
Perishable Prepared Food Manufacturing
1
Pet and Pet Supplies Stores
6
Pet Care (except Veterinary) Services
2
Petroleum Bulk Stations and Terminals
5
Petroleum Refineries
1
Photography Studios, Portrait
5
Pipeline Transportation of Natural Gas
1
Plastics Bag Manufacturing
1
Political Organizations
5
Polystyrene Foam Product Manufacturing
1
Port and Harbor Operations
1
Portfolio Management
26
Prepress Services
2
Printing Ink Manufacturing
1
Private Mail Centers
5
Professional Employer Organizations
2
Professional Organizations
14
Public Relations Agencies
8
Quick Printing
5
Radio Networks
1
Radio Stations
12
Ready-Mix Concrete Manufacturing
1
Real Estate Credit
10
Reinsurance Carriers
1
Remediation Services
3
Residential Property Managers
38
Retail Bakeries
17
Reupholstery and Furniture Repair
1
Roofing Contractors
7
Sales Financing
9
Savings Institutions
19
Saw Blade and Handsaw Manufacturing
1
Schiffli Machine Embroidery
1
Securities Brokerage
24
Security Guards and Patrol Services
10
Septic Tank and Related Services
1
Sewage Treatment Facilities
2
Sheet Metal Work Manufacturing
1
Ship Building and Repairing
1
Shoe Stores
24
Sign Manufacturing
3
Silverware and Hollowware Manufacturing
3
Site Preparation Contractors
4
Snack and Nonalcoholic Beverage Bars
67
Software Publishers
9
Solid Waste Collection
1
Sporting Goods Stores
6
Surface Active Agent Manufacturing
2
Tax Preparation Services
8
Taxi Service
4
Telecommunications Resellers
3
Telemarketing Bureaus
1
Telephone Answering Services
4
Television Broadcasting
4
Temporary Shelters
8
Testing Laboratories
2
Textile Bag Mills
2
Theater Companies and Dinner Theaters
8
Tile and Terrazzo Contractors
5
Tire Dealers
5
Title Abstract and Settlement Offices
9
Tour Operators
3
Tradebinding and Related Work
2
Translation and Interpretation Services
1
Travel Agencies
18
Used Car Dealers
26
Used Household and Office Goods Moving
4
Used Merchandise Stores
15
Veterinary Services
7
Video Tape and Disc Rental
9
Vocational Rehabilitation Services
11
Voluntary Health Organizations
10
Wholesale Trade Agents and Brokers
13
Window Treatment Stores
3
Wired Telecommunications Carriers
28
Wood Container and Pallet Manufacturing
1
Wood Office Furniture Manufacturing
1
Wood Window and Door Manufacturing
2
Zoos and Botanical Gardens
1

Naming the Company

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.

Pick a company name that isn't too generic. If you do a search engine search for your proposed name and a billion results come up, you may want to reconsider the name. It's much easier to come up in the search engines when your name is fairly unique.

For other considerations regarding naming a company, we recommend this article: Branding Advice.

There's one other important factor when naming a business. Since you are opening a business in Providence, it's very important that you make sure no other Rhode Island company is using the business name you want to use.

Forming a Company in Providence, Rhode Island

It's very important that your business is formed as a legal entity that is separate from its owners. Doing so will shield 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 common way to legally create a business entity. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Rhode Island, it doesn't mean you are required to incorporate in Rhode Island. As it turns out, 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. To learn the basics of company formation, browse articles on our site, such as Getting an EIN. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Providence, Rhode Island, our information on Incorporating in Rhode Island may be a useful resource if you decide to incorporate in Rhode Island.

Bring in Revenues

Being able to sell is critical to your business success. Whether you are focused on selling local customers in Providence or are selling to customers throughout Rhode Island, the United States or even the world, you have to be able to sell.

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.

Sales Forecasting offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.

Learning More About Entrepreneurship

The best business owners recognize that they need to continually improve.

As an entrepreneur who lives in Providence, Rhode Island, you will want to take advantage of the many programs available at nearby Rhode Island universities, colleges and community colleges. It's also worthwhile to see if there are any networking groups or organizations in which Providence entrepreneurs get together to network and trade their business experiences.

Next Steps

You have a dream -- starting a business in Providence. To achieve your dream, you have to persevere, even when the odds are against you.

If you choose the right business and love what you do, you will greatly increase your odds of success.

We are here to help Providence businesses to be successful. 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 Providence, Rhode Island

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

More Business Startup Guides for Rhode Island

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Starting a Business in Tiverton

Browse All Business Startup Guides for Rhode Island
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