August 13, 2020  
 
  Entrepreneurial Resources - Advice for Vermont Entrepreneurs  
  Springfield, Vermont Resources for Entrepreneurs  
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Start a Business in Springfield, Vermont

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

Do You Have What It Takes?

An entrepreneurial life is hard work, much more challenging than working as an employee. Are you certain 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:

  • Grab a meal or cofee with other entrepreneurs in Springfield. Get their candid feedback on what it takes to start a successful business.
  • Take a look at Business Failure. It's a short article but it's a good reality check for those are about to jump into the world of entrepreneurship.
  • Involve a spouse, family member or trusted friend in the decision. A support network of family and friends can be a great sounding board for good advice before you decide for sure to go into business.

What Type of Business Should You Start?

An important decision is what kind of business you want to start. To help you decide on a business type, we encourage you to read Business Ideas That Don't Make Sense.

For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our How to Start a Materials Handling Equipment Service & Repair Business guide or our Opening a Protective Coatings Business guide.

Always keep in mind that starting a business in Springfield has some implications. The business you want to start may already be well-represented in Springfield. Don't forget to review Springfield demographics to see if there's a market for what you want to sell.

Springfield, Vermont Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 9420
5-9 Employees 3480
10-19 Employees 2100
20-49 Employees 1620
50-99 Employees 480
100-249 Employees 120
250-499 Employees 60
500-999 Employees 0
1000+ Employees 0
All Springfield Businesses 17280

As a new Springfield entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Springfield 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
Automotive Parts and Accessories Stores 2
Barber Shops 1
Beauty Salons 1
Beer, Wine, and Liquor Stores 2
Bowling Centers 2
Business Associations 1
Cable and Other Program Distribution 1
Car Washes 1
Carpet and Upholstery Cleaning Services 1
Child Day Care Services 3
Civic and Social Organizations 5
Coin-Operated Laundries and Drycleaners 2
Community Food Services 1
Convenience Stores 1
Credit Unions 2
Curtain and Drapery Mills 2
Custom Computer Programming Services 1
Diagnostic Imaging Centers 3
Direct Title Insurance Carriers 1
Educational Support Services 1
Electrical Contractors 2
Elementary and Secondary Schools 2
Emergency and Other Relief Services 1
Engineering Services 2
Family Planning Centers 1
Finish Carpentry Contractors 3
Fitness and Recreational Sports Centers 5
Floor Covering Stores 1
Florists 1
Food (Health) Supplement Stores 1
Food Service Contractors 2
Framing Contractors 1
Fruit and Vegetable Markets 1
Full-Service Restaurants 10
Funeral Homes and Funeral Services 1
General Automotive Repair 8
General Freight Trucking, Local 2
General Medical and Surgical Hospitals 1
Gift, Novelty, and Souvenir Stores 1
Glove and Mitten Manufacturing 1
Golf Courses and Country Clubs 1
Graphic Design Services 1
Hand and Edge Tool Manufacturing 1
Hardware Stores 1
Heating Oil Dealers 1
Home Health Care Services 1
Homes for the Elderly 1
Insurance Agencies and Brokerages 4
Interurban and Rural Bus Transportation 1
Jewelry Stores 1
Landscaping Services 2
Limited-Service Restaurants 3
Machine Shops 1
Mail-Order Houses 1
Masonry Contractors 1
Medical Laboratories 1
Museums 2
New Car Dealers 1
Newspaper Publishers 1
Nursing Care Facilities 2
Office Administrative Services 2
Offices of Certified Public Accountants 2
Offices of Chiropractors 1
Offices of Dentists 6
Offices of Lawyers 11
Offices of Podiatrists 1
One-Hour Photofinishing 1
Paint and Wallpaper Stores 1
Painting and Wall Covering Contractors 1
Payroll Services 1
Pharmacies and Drug Stores 1
Real Estate Credit 1
Residential Remodelers 4
Reupholstery and Furniture Repair 1
Savings Institutions 1
Securities Brokerage 1
Sign Manufacturing 1
Tax Preparation Services 2
Tile and Terrazzo Contractors 1
Tire Dealers 1
Travel Agencies 1
Truss Manufacturing 1
Used Car Dealers 3
Veterinary Services 2
Video Tape and Disc Rental 1
Wholesale Trade Agents and Brokers 1
Wired Telecommunications Carriers 2
Zoos and Botanical Gardens 1

Forming a Company in Springfield, Vermont

A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. 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. If you are starting a business in Vermont, it doesn't mean you are required to incorporate in Vermont. 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. To learn the fundamentals of company formation, browse articles on our site, such as Why Incorporate in Delaware. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Springfield, Vermont, our information on Incorporating in Vermont may be a useful resource if you decide to incorporate in Vermont.

Where to Get Money to Start a Company

Getting your Springfield business the capital it needs to succeed is a difficult chore. In fact, financing your new business may be the hardest challenge you ever face.

Take advantage of our many articles on raising capital, such as Realistic Debt Financing Options.

For Springfield entrepreneurs on the hunt for startup funding, check out our List of Vermont Angel Investors and our List of Vermont Venture Capital Firms.

Advancing Your Entrepreneurial Skills

Good business owners recognize that they need to continually improve.

Given that you are starting a business in Springfield, Vermont, you will want to take advantage of the many programs available at nearby Vermont universities, colleges and community colleges. It's also beneficial to see if there are any networking organizations for Springfield entrepreneurs.

Now It's Up To You

As an entrepreneur in Springfield, you won't be working for the boss anymore. You are the boss.

Owning your own business will be a daunting task, but you can do it.

This site is all about helping entrepreneurs in Springfield and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Springfield, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Springfield, Vermont

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

 

 

Additional Resources for Entrepreneurs

Buying a Business

Writing a Business Plan

Raising Money

Incorporate

Small Business Marketing

Advertising Advice

Public Relations -

Customer Service Tips

Entrepreneurial Selling

Workplace Safety