Ecwid for Small Business

How to Start a Small Business in Delaware (DE)

Starting a business can be an exciting endeavor, and represent a new chapter in someone’s life. Starting your own business in Delaware can be a step in the right direction because Delaware offers some amazing benefits to entrepreneurs based in the state.

They are 2nd in lowest business cost and 4th in lowest overall tax burden. Delaware is also ranked 8th in its rate of new entrepreneurs. It may just be the perfect state for you to start your own business.

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Delaware’s Most Popular Businesses

To open up your business, you will, of course, need an idea of what to sell. Whether it’s a good or a service, you’ll want to choose a business you are excited about and passionate about. Stumped for an idea? Delaware does have some popular businesses to keep in mind. Visitors and residents enjoy drive-in movie theaters and there is a vibrant industry there for record labels and film production companies.

Planning Processes

Follow a few vital steps to ensure you are doing things legally and correctly in the state of Delaware. Here’s some steps that will help you get started.

1. Pick a name

After getting a rough idea of what you want to sell and offer your customers, select a name for your business. A name is the first thing your customers will see and judge you by. You will want to create a name that showcases the business’s values and goals, as well as sounds unique enough to stand out from a crowd. With just one or a few words, your business is represented.

In the state of Delaware, there are some rules and regulations to follow while choosing your business’s name, but don’t let that stop your creative process. Prioritize the name you want and see if you can legally use variations of it.

2.  Conduct market research

Market research can be an essential step in making your business viable and helping you stay ahead of the curb. Research like this will allow you to learn about your intended audience a bit more and understand their needs.

3.  Choose a structure

Once you can figure out what you want your business to represent, you can go forward in choosing a business structure. Depending on your goals, you could pick an LLC, non-profit, corporation, sole proprietorship, or partnership.

Registering in Delaware

Depending on which business structure you choose, you will then need to register your business in the state of Delaware. On average, you could be asked to submit information like your business’s name, your registered agent who will be handling your taxes, your employer identification number, and your formation documents. Depending on the structure you pick, you may be asked to submit different documents or certifications.

It’s All About Location

When you plan to open your business, you want to locate it somewhere with high foot traffic and travelers. In Delaware, cities like Dover and Georgetown could be your ticket to success. On the other hand, if you plan to open an online store in Delaware, you have a bit more flexibility.

Focus on Banking

As important as your own personal bank account is, having a separate business account is just as important. You will want to make sure to keep your finances separate to keep your own affairs safe. This could mean opening up a bank account specifically for your business as well as its own credit card. A credit card will help track transactions while also building a solid credit score.

Bank accounting software or an accountant could also be handy for your business. Accounting can track your money flow and file your taxes faster.

Insure Your Business

Owning a business means that you are open to a multitude of liability risks. A great way to product yourself, the business, and your workers is to sign up for insurance. This could be either Workers’ Compensation Insurance, General Liability Insurance, or Professional Liability Insurance.

Something to keep in mind, though: if you have one or more employees in the state of Delaware, it is legally required to have some version of Workers’ Compensation Insurance set up for them.

Hiring Employees

Hiring new employees can be a very exciting next step in anyone’s business. It shows growth and aspirations from the owner. When you hire new people, it can be important to do it legally and by the state’s rules. To do this, you want to make sure you are registered in the IRS for employee taxes and report new hires to Delaware.

Branding

The next few steps in creating a successful business could be some of the more fun ones. Branding is a great way to showcase your business’s vision as well as offer your customers a unique shopping experience. Branding is an expression of your values as a business and inspires people to shop from you.

What do you want your brand to represent?
How do you want to be seen by your customers?

Asking questions like these could be a great way to help narrow down your vision. Next to branding, a logo could be considered just as important for representing your business. A logo is a way for customers to recognize you quickly and efficiently with a picture or a few words. You’ll want to pick an image that expresses brand identity.

Get Online

Having an online presence can mean many things, but one of the first steps should be making a website. A website can be a great tool to reach your audience virtually and showcase any information, deals, or new products you want them to know about.

Social media platforms are also an amazing place to increase your online presence. Facebook, Instagram, and TikTok have become a small business’ dream, as social media is a great way to connect with your audience and show off your products. Ecwid can also help manage those platforms as well.

Online Business

You can also sell from your website. If you were thinking of opening a fully online store, this is probably already something that crossed your mind. If you already have a website or if you need some assistance with website creation or resources, companies like Ecwid may be a great tool to utilize.

Ecwid also gives you an easy way to connect your products to other selling platforms like Facebook and Instagram. With these other sites, you will get increased virtual traffic as well as sales in the long run. Ecwid also has a simple dashboard that shows you all the sales you’ve made from each site in one place. This can help keep things organized from your side of the business. If you are looking to open an online business, Ecwid might easily become your best friend in the business world.

Marketing

Marketing may be the next step after you have built an online presence. While making social media accounts can be free, buying business cards, signage, online ad space, or billboards is not. On average, depending on the size and goals of the business, around $250 to $1,500 should be put aside for marketing.

Business cards and other tangible marketing can be great to get in people’s hands, especially if you have a brick-and-mortar store. Online ads and resources like Google My Business or email subscriptions are excellent methods to utilize online marketing in this virtual world. Depending on your goals for your business, some marketing tasks may work better than others, but it is up to your needs for your unique business.

Start Your Business Online

Starting a business online is faster and cheaper.
Transform it into an offline business later.

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Start Selling Products & Services Online

You don’t have to worry about the office or warehouse if you choose to sell online. Save your time and money.

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Learn the basics

Starting an Online Store Business is Easy.
We’ll Show You.

So you’re ready to start selling online. Now the million-dollar question… where do you start?

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Read real stories

Get Yourself Ready
For Surprises

Check out our blog series all about starting an online store without prior experience. It‘s sort of like our own ecommerce reality show—starring Nicole.

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Find a product

Looking For Things
To Sell Online?

Discover best-selling products and how you can start selling them online and make money.

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Select sales channels

Catch Your Customers Where They Are

We’ll help you navigate through the market and find the most profitable channels.

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Start Your Business Online

Starting a business online is faster and cheaper.
Transform it into an offline business later.

Start Selling Online

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