Massachusetts Business Startup Guides
Start a Business in Somerset, Massachusetts
Are you starting a business in Somerset, Massachusetts? This article discusses the most important things to consider when opening a business in Somerset.
Is Becoming an Entrepreneur Right for You?
An entrepreneurial life is hard work, much more arduous than working as an employee. Are you positive you want to start a business?
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:
- Talk to other entrepreneurs in Somerset. Get their take on what it's really like to be an entrepreneur.
- We recommend reading Characteristics of Successful Entrepreneurs. For aspiring new entrepreneurs, it's a must read article.
- Seek the advice of somebody who knows you well. That's the best way to get a truly objective assessment as to whether others think you have what it takes.
Somerset, Massachusetts Demographic Information
Somerset has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Somerset demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Somerset.
As a new Somerset entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Somerset 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.
Choosing a Company Name
Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset.
Company names should be fun to say, and they should help people to understand what you do and how you differentiate yourself in the market.
Numerous company naming issues are discussed in more detail in this article: Naming a Business.
As a final piece of advice, remember that because you are starting a business in Somerset, it's critical that you ensure that no Massachusetts company has already registered the company name you have selected.
Company Formation in Somerset, Massachusetts
A critical step is ensuring that you form your business as a legal structure. The principal advantage of forming your new business as a legal entity is that it separates your business liabilities from your personal liabilities.
When forming a company, you will choose from many company types, such as 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 Massachusetts, you don't necessarily have to incorporate in Massachusetts. In fact, you can incorporate in any state you would like to. 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 Where to Incorporate. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Somerset, Massachusetts, our web page covering Incorporating in Massachusetts may be a useful resource if you decide to incorporate in Massachusetts.
Don't Forget to Create a Business Plan
A business plan is essential in maximizing the prospects of your new company. In effect, 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.
The Art of Selling
Do you know how to sell? In order to attract customers to your new Somerset business, you need to focus on sales.
Good selling involves demonstrating that your wares meet your customer's needs. Let us help you refine your selling techniques through our many useful sales advice tips.
As an entrepreneur in Somerset, you won't be working for the boss anymore. You are the boss.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Somerset 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 Somerset, Massachusetts
Here are more links that we believe will help you be successful in starting a business in Somerset.
- Resources for Somerset, Massachusetts Entrepreneurs - Browse a variety of resources we've collected to assist Somerset entrepreneurs.
- Massachusetts Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Massachusetts.
- Massachusetts Small Business Development Center - The Massachusetts Small Business Development Center (MSBDC) Network provides one-to-one free comprehensive and confidential services focusing on, business growth and strategies, financing and loan assistance as well as strategic, marketing and operational analysis.
Starting-a-Business Guides for Other Cities in Massachusetts
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