Entrepreneurship in Connecticut

Connecticut natives have invented everything from the first vacuum cleaner to the frisbee. And because of the fast moving pace of Connecticuters they became the first state to invent and implement speed limits in 1901. It's no wonder so many great entrepreneurs have come from Connecticut .

With people like Margaret Rudkin (founder of Pepperidge Farm), and Frederick Stanley (Founder of Stanley Black and Decker Inc.) to look up to, the people of Connecticut love to lead entrepreneurial teams that change the world.

Home to the famed Yale University, and containing some of the world's most beautiful fall foliage, the constitution state 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 Connecticut’s 120 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.

Click here to learn more.

Market Analysis

Before you start your business, look around to understand the market in Connecticut.

With an abundance of rich natural resources, Connecticut has a ton of business potential.

According to TaxFoundation.org, Connecticut ranks a medium 27th for the corporate tax rank.

Competitor Analysis

Another good way to understand Connecticut’s market is to visit your local Chambers of Commerce.

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.

Labor Statistics

Connecticut is full of hard working people that can be amazing assets to your company.

Unemployment rate in Connecticut:

6%

Information from Connecticut .gov

Average annual salary in Connecticut:

34,970 dollars

16.81 dollars an hour

Information from Zip Recruiter

Education levels for residents of 25 and older:

High school degree or higher:

91.1%

Bachelor degree or higher:

39%

Information from World Population Review

Housing Market

Price index yearly growth: 16.95%

Medium house price: 275,400 dollars

National average house price: 269,039 dollars

General Advice

Connecticut 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.

Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest.

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