Launching a new business is exciting, and you’ve come to the right place to find success as an entrepreneur. New Jersey is filled with opportunities to leverage your business to a global marketplace, but you’ll first want to start by following a few simple steps to establish your company as a recognized entity. Using this step-by-step guide sets you up for success and can lead to relationships that will foster your company’s growth beyond the beginning stages.
Create a Strong Business Plan
By this point, you likely already have an idea of what type of business you want to start. Your next step is to create a solid business plan that you can use to launch your idea and pitch it to potential sources for funding. Writing a strong business plan is an art form, but you can work with a mentor to make sure yours includes all of the details that lenders and grantors need to hear when they make a decision.
Seek and Secure Funding
New Jersey has several amazing funding opportunities for new entrepreneurs, which is why people flock to our state to launch businesses. Depending upon your status as a business owner and the type of company you are launching, you could be eligible to receive grants and special loans that make starting a business more affordable.
Register Your Business
To register your small business in New Jersey, you’ll need to select a registered agent, submit a filing fee and file a certificate of formation. You may also need to register your company’s trademark, which is a simple process. Making sure that you submit all of the required documents is the most challenging part of the process, and you can work with a business mentor to ensure that not a single piece of paperwork gets missed.
Establish a Company Bank Account
Business bank accounts offer benefits that can help with building credit for your company and keeping the profits separate from your personal finances. Working with a business counselor who specializes in financial services can help you choose the right program to work for your company’s needs.
Launch Your Sales and Marketing Plan
Once you have all of the essentials set up for your business, you’re ready to reach out to potential customers. Whether you have a new restaurant or are opening up an online marketplace, this is the time to begin using your sales and marketing plan to announce your business’s opening. While this final stage is thrilling, it is also important to remember that it is only the beginning of establishing long-term success as a business owner. Continue to track your company’s progress and refine your marketing strategies as you see growth.
New Jersey is known for being one of the friendliest places to launch a new business. On top of having easy access to information regarding topics such as registering your company and obtaining licenses and permits, you also have the option of relying on a group of mentors for help. Reach out to our business counselors at NJSBDC to get help with each step of launching your business to ensure that your new venture is a success.