How To Launch A Business In The Hudson Valley
Americans are founding businesses at the quickest rate in over a decade, according to the to US Census Bureau, and the Hudson Valley is no exception. In 2020, commercial real estate sales were four times the rate of previous years, and the Regional Economic Development Council has invested over $713.6 million in the region Hudson Valley region since 2011.
For those Hudson Valley residents who have been waiting to launch their dream business in the Hudson Valley, we’ve compiled a step-by-step guide to get you started, complete with the resources you’ll need, all of which can be found in our Directory.
1. Fund Your Business
You have your big idea and you’ve written your business plan, which will help you figure out how much money you’ll need to start your business. If you don’t have that amount on hand, you’ll need to either raise or borrow the capital. The Hudson Valley has numerous financial institutions that can help finance your idea.
2. Pick Your Business Location
Your business location is one of the most important decisions you’ll make. Whether you’re setting up a brick-and-mortar business or launching an online store, the choices you make could affect your taxes, legal requirements, and revenue. A great realtor can help find the best location for your business or your office.
3. Choose A Business Structure
The legal structure you choose for your business will impact your business registration requirements, how much you pay in taxes, and your personal liability. A good lawyer who understands not just the law, but local law, will be indispensable.
4. Choose Your Business Name
It’s not easy to pick the perfect name for your business – you will want one that reflects your brand, is memorable, and captures the essence of your business. You’ll also want to make sure your business name isn’t already being used by someone else. An experienced marketing firm will help to develop a brand identity to make your company stand out.
5. Build A Great Website With Professional Photography
Your website is your public face, where prospective customers, partners, and investors will go to learn more information about your company. You will want to impress them with a professional site, high-quality imagery, and content to best showcase your business – and hire professionals to build the site.
6. Market Your Business
To succeed, you need to continually be attracting, building, and educating your target market. Make sure your marketing strategy includes social media as a cost-effective way to engage with your customers. Instagram is wildly popular now, yet many local businesses rely heavily on the community nature of Facebook. A great social media firm can advise and run your channels, freeing you up to do more for your business.