How To Start A Business In The District Of Columbia
Entrepreneurship in the District of Columbia
District of Columbia natives have invented everyday objects from the first telegraph to the binder clip. In fact, Benjamin Banneker created our nation's first clock in the 1700s. It's no wonder so many great entrepreneurs have come from D.C..
With people like Deborah Harmon (CEO of Artemis Real Estate), and Dave Schaeffer (founder and CEO of Cogent Communications) to look up to, the people of Washington D.C. love to lead entrepreneurial teams that change the world.
Home to our nation's capital, Washington D.C. is a great place to start your small business.
Registering Your Business
Registering your business is one of the first steps to success.
And with the District of Colombia’s 99 dollar fee for starting an LLC, it's important you get it right.
Decide what kind of model is right for you (LLP, LLC, Corporation, Sole Proprietorship). Most small businesses start with an LLC. If you’d like an LLC, S-Corp, or C-Corp done for you, we’d be happy to do that on your behalf.
Before you start your business, look around to understand the market in the District of Columbia.
With an abundance of rich natural resources, the District of Columbia has a ton of business potential.
According to TaxFoundation.org, the District of Columbia ranks an awesome 17th in the corporate tax rank.
Another good way to understand the District of Colombia’s market is to visit your local Chambers of Commerce.
You can use your local chamber of commerce to identify opportunities and threats in your local community. It’s a great way to get started on the bottom 2 quadrants of your SWOT analysis.
We’d recommend looking through it and identifying competitors in your industry, and identify the points of parity you need to live up to, and how to better leverage your points of differentiation.
The District of Columbia is full of hard working people that can be amazing assets to your company.
Unemployment rate in the District of Columbia:
Information from District of Colombia.gov
Average annual salary in the District of Columbia:
33.24 dollars an hour
Information from Zip Recruiter
Education levels for residents of 25 and older:
High school degree or higher:
Bachelor degree or higher:
Medium house price: 600,000 dollars
National average house price: 269,039 dollars
The District of Columbia is a unique place to start a business. We hope that the resources and points we brought up here will help you start a business there.
If you’d like to dive deeper into how to start a business, check out our much longer article How To Start A Business. Use both of them to get started on the right foot from day one.
About the Firm...
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