Alabama Business Startup Guides
Open a Business in Troy, Alabama
Need help starting a business in Troy, Alabama? We've got the information you need to open a business in Troy.
Will You Be a Good Entrepreneur?
Being an entrepreneur is difficult, much harder than working as an employee. Are you sure you have the stamina and skills to succeed on your own?
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 Troy. They are usually very willing to share their insights on the ups and downs of being 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. Others sometimes know you better than you know yourself.
Troy, Alabama Demographic Information
Troy has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Troy demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Troy.
As a new Troy entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Troy 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.
Is Buying an Existing Troy Business a Good Strategy?
If you have some capital to play with, you may want to Buy a Business in Alabama. Follow that link and you may find several good businesses for sale in Troy.
For anybody who wants to buy a business, we recommend reading this useful article: Hold Harmless Agreements When Buying Businesses.
Company Formation in Troy, Alabama
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Among other things, forming a legal entity for the business limits your liabilities.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation 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 Alabama, it doesn't mean you are required to incorporate in Alabama. In fact, you are allowed to 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'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 Offshore Company Formation. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Troy, Alabama, our information on Incorporating in Alabama may be a useful resource if you decide to incorporate in Alabama.
Ramping Up Sales
Do you know how to sell? In order to attract customers to your new Troy business, you need to focus on sales.
Clever sales techniques can transform any business from good to great. The good news is we can help you to make selling a big competitve advantage for your new firm.
Improving Your Entrepreneurial Skillset
The best entrepreneurs know that they need to continually improve.
As an entrepreneur who lives in Troy, Alabama, you will want to take advantage of the learning programs at local Alabama educational institutions. It's also worthwhile to see if there are any networking groups or organizations in which Troy entrepreneurs get together to network and trade their business experiences.
As an entrepreneur in Troy, you won't be working for the boss anymore. You are the boss.
From this point on, you control your own destiny.
We are here to help Troy businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Troy, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Troy, Alabama
Here are more links that we believe will help you be successful in starting a business in Troy.
- Resources for Troy, Alabama Entrepreneurs - Browse a variety of resources we've collected to assist Troy entrepreneurs.
- Alabama Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Alabama.
- Alabama Small Business Development Center - Alabama's Small Business Development Center (SBDC) counsels and trains business people in a wide variety of business topics and provides comprehensive information services and access to experts in many fields. Counseling is provided free of charge to all Alabama small business owners.
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