Virginia Business Startup Guides
Open a Business in Roanoke, Virginia
Need help starting a business in Roanoke, Virginia? We've got the information you need to open a business in Roanoke.
Are You Ready for Life as an Owner?
Before announcing to the world that you are going to start your own business, assess your entrepreneurial instincts and capabilities.
With so much at stake when you start a business, we strongly recommend you do the following before you proceed:
- Reach out to other entrepreneurs in Roanoke. Listen closely to their experiences and see if you think you too can be successful.
- Peruse Should You Become an Entrepreneur?. This is one of our more popular articles for folks who want to go into business for themselves.
- Have a candid conversation with friends and family. 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.
What Business to Start
An important decision is what kind of business you want to start. You might get some good ideas about what kind of business to start by reading Finding Your Niche in Life.
For step-by-step instructions on starting a variety of business types, visit the Good Businesses to Start section of our site. For example, you might be interested in our Opening a Computer Terminal Manufacturers Business guide or our Starting a Fiberglass Repair Business guide.
Don't forget that Roanoke is the place where you are starting a business. Some businesses will do better in Roanoke than others. Don't forget to review Roanoke demographics to see if there's a market for what you want to sell.
Roanoke, Virginia Demographic Information
Roanoke has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Roanoke demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Roanoke.
As a new Roanoke entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Roanoke 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.
Naming the Business
A good company name can give a big boost to a new startup. It might seem like an easy thing to do, but there are many things to consider when naming a business.
Before you decide on a company name, run it by some prospective customers and see what they think. If they don't like it, it's probably a good idea to go back to the drawing board.
For other considerations regarding naming a company, we recommend this article: Branding Advice.
On a final note, given that you are opening a business in Roanoke, it's very important that you make sure no other Virginia company is using the business name you want to use.
Forming a Company in Roanoke, Virginia
It's very important that your business is formed as a legal entity that is separate from its owners. The primary advantage of forming your new business as a legal entity is that it separates your business liabilities from your personal liabilities.
The entity you form can be a corporation, LLC, sole proprietorship, partnership or other structure.
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. If you are starting a business in Virginia, it doesn't mean you are required to incorporate in Virginia. As it turns out, you are allowed to incorporate in any state you would like to. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.
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 Getting an EIN. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Roanoke, Virginia, our information on Incorporating in Virginia may be a useful resource if you decide to incorporate in Virginia.
Increase Your Entrepreneurial Knowledge
Good entrepreneurs recognize that what they know now may not be enough to ensure their future success.
With your business being located in Roanoke, Virginia, you will want to take advantage of the learning programs at local Virginia educational institutions. It's also beneficial to see if there are any Roanoke networking organizations.
Never Give Up
You have a dream -- starting a business in Roanoke. 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.
Our goal here is to promote the vitality and growth of small businesses in Roanoke and throughout the United States . We want to be there for you to answer your business questions, whether you are a new Roanoke 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 Roanoke, Virginia
Here are more links that we believe will help you be successful in starting a business in Roanoke.
- Resources for Roanoke, Virginia Entrepreneurs - Browse a variety of resources we've collected to assist Roanoke entrepreneurs.
- Virginia Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Virginia.
- Virginia Small Business Development Center - Virginia Small Business Development Centers offer professional business counseling, training and information resources to help grow and strengthen Virginia businesses.
More Business Startup Guides for Virginia
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