Resources for Starting a Business
Depending on the type of
ownership, different legal requirements will need to be addressed. Before choosing your business name, you must ensure that no other company in the Commonwealth is already operating under that name.
You must also register your business with the Commonwealth of Massachusetts as a taxpayer. More info here.
First, open a business bank account. Then, determine how much funding you will need to launch & operate your new business for the first few months.
Finally, you can work to assemble financing that meets the short and long-term needs of your business. Check out the options listed here.
Keys to a Successful Launch
The lean canvas is a great tool for helping develop & validate your business model. Create your own here:
The more you can test your concept & get feedback from potential customers, the better your business will be!
Consider how you will provide a living wage to employees + where you will source your supplies.
Build Your Team
A business is only as strong as the team behind it. Get legal & accounting advice early on to avoid costly mistakes. Identify people who can help you succeed, either as advisers, employees, or business partners.
However, be aware that a new set of responsibilities arises when a business hires employees. More info here.
A written business plan is a requirement to obtain certain loans. A business plan addresses critical goals and challenges of a new business and helps set benchmarks, evaluate progress, and demonstrate to potential investors that the business has profit-making potential. The financial projections are key to this.
Need help? Contact one of our partners here.
Find a Location
Location is a key factor in the success of your enterprise. However, you need to consider your infrastructure requirements, budget, and target clientele before choosing a site for your new business. Check out the resources here to help you find a space.
Obtain Certificate of Occupancy
Before you can open your doors, you must get approval from the Building Department at the Department of Inspectional Services. For more information, click here.
Cut the Ribbon
Launch your website and social media. If you're interested in having the Mayor attend a ribbon-cutting for your new location, call 413-736-3111 to speak with a Mayor's office representative.
Please Note: The information presented on this page and website is not legal advice, is not to be acted on as such, may not be current and is subject to change without notice.