Ohio Business Startup Guides
Opening a Business in Salem, Ohio
Contemplating starting a business in Salem, Ohio? We walk you through the process of opening a business in Salem.
What Business to Start
There are many businesses that you can start. How do you know which type of business is right for you? If you are struggling with what type of business to start, read Business Ideas That Don't Make Sense.
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 Starting an Internet Service Providers Business guide or our Starting a Water Meter Inspection & Reading Business guide.
Don't forget that starting a business in Salem has some implications. Some businesses will do better in Salem than others. Don't forget to review Salem demographics to see if there's a market for what you want to sell.
Salem, Ohio Demographic Information
Salem has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Salem demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Salem.
As a new Salem entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Salem 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.
Have You Considered Buying an Existing Salem Business?
An excellent way to get started in business is to Buy a Business in Ohio. Follow that link and you may find several good businesses for sale in Salem.
If you are headed down the path of buying a business, you may want to read this article: Buying a Business.
Selecting a Name For Your Startup
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.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Business.
On a final note, given that you are starting a business in Salem, it's imperative that you check now that no other Ohio company is using the business name you want to use.
Company Formation in Salem, Ohio
It's very important that you choose the right legal structure for your new entity. Doing so will protect 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 Ohio, you don't necessarily have to incorporate in Ohio. 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. To learn the basics of company formation, browse articles on our site, such as Registered Agents. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Salem, Ohio, our information on Incorporating in Ohio may be a useful resource if you decide to incorporate in Ohio.
Make Sure You Have a Business Plan
Writing a business plan is critical in laying a solid foundation for your business success. In effect, a business plan describes what you plan to do with the business and how you plan to do it. Not having a business plan will greatly reduce your chances of business success.
If you want more information on writing business plans, we recommend reading Business Presentations. A great resource for business planning assistance is the face-to-face free consulting available from your local SCORE chapter in Ohio.
Most new Salem businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Salem and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Salem, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Salem, Ohio
Here are more links that we believe will help you be successful in starting a business in Salem.
- Resources for Salem, Ohio Entrepreneurs - Browse a variety of resources we've collected to assist Salem 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.
Starting-a-Business Guides for Other Cities in Ohio
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