Sat 10 Oct 2015 | By:

5 Best Practices for Starting a Connecticut Business

5 Best Practices for Starting a Business

While there is no perfect plan to starting a business in Connecticut, it’s always better to start one on the right foot. As a startup, you can’t afford to make wrong decisions that could significantly impact your business and cause some setbacks.

This is also one of the reasons why established businesses follow best practices. This is to ensure that you have the basic foundation to really make it in the business world. From the importance of a business plan to incorporating in Connecticut, here are the top five best practices your business should observe and implement.


1) Have a Solid Business Plan

Write a Business PlanOperating a business without a business plan is like being in the dark, you can’t see where you’re going. A business plan is the ‘light’ that will lead you in the right direction.

The importance of having a solid business plan for your business cannot be emphasized enough and you can learn how to write one even without formal training. You just make use of the given resources below, and you can get on it immediately.

Quick Links to Planning for Success


2) Utilize Free Startup Resources to your Best Advantage

Free Resources to Start a BusinessThere are many organizations out there willing to provide assistance through free startup resources when starting a business. Be a savvy business startup owner by using these free resources to start and grow your Connecticut business.

While you may be quite overwhelmed with all the resources that come your way on how to start a business in Connecticut, it’s best to start with the resources in this guide. The three links below are a great starting point, so make sure to read, understand, and apply what you’ve learned.


3) Incorporate in Connecticut with the Right Business Structure

Business WebsiteThe importance of choosing the right business structure when incorporating in Connecticut is always stressed because this affects the entirety of your business as well as its operations.

From the moment you comply with business taxes, permits, and licenses, your business structure type will have an influence of the amount of paperwork you need to process. So be careful to choose the right structure, and use the links below to incorporate your business and make it legal.


4) Create an Operating Agreement

Create an Operating AgreementAn Operating Agreement is not in any way mandatory when you start a business in Connecticut, but it is an important necessity in protecting the financial and operational aspects of your business.

It sets a precedence of your business operations and protects your business’ interests along the way. So while it is not mandatory, it would be crazy not to create an Operating Agreement for your business.


5) Continue Learning as a Business Owner

Continue Learning as a Business OwnerPart of your business’ success in the coming years is your ability to adapt to the environment, to implement changing trends and new innovations as the demand for it grows.

That is why when you’re starting a Connecticut business, part of your work as a new owner is to continue learning and absorbing new knowledge. Don’t limit your learning to the Connecticut startup process, but rather move forward and read up on business books, utilize free startup courses, and free online magazines.


Wrapping Up and Moving Forward

Aside from the ones mentioned above, there are several more best practices when starting a business. However, you need to start somewhere, and this is the best place to get started. Starting your dream business may not be that easy, but it doesn’t mean that you give up on it just because of a few bumps.

Take these best practices and apply them to your business, and you should have a bright future ahead!

About Liesha Petrovich

Liesha is a small business owner of 20 years, host of Startup Savant, the owner of a karate dojo in Maine, and creator of Work Mobly. During free time she's with her family and working on a Doctorate in Entrepreneurship.