Connecticut was one of the states recently listed as overachieving in the number of business start-ups and entrepreneurships. The study examined populations and economic output and found there was a disproportionate number of start-up companies that are valued in excess of $100 million.
Though most start-up companies revolve around one individual, more and more we are seeing ones where groups of 125 to 250 people agree to create a new business. And these sort of businesses seemed to have been popping up regardless of economic slumps.
The significance of the value of such companies is that it often allows the business to go public and be able to raise even more financing through the issuing of public shares. Also, larger start-ups are considered more trustworthy by lending institutions as well.
What is surprising is that so many start-up companies are not being created in the high-tech business sector. Instead, many consumer products are turning out to prove promising ventures.
Whether business start-ups come about on a small level or involve a significant amount of individuals and investors, these companies still require the legal advice and consultation from an experienced business and commercial law attorney. There will always be corporate documents to be created, labor and business contracts to be written up, tax issues to be considered, and federal, state and local regulations to be complied with.
Though economy in the United States seems to be turning around, many of the same considerations need to be made when starting up a business in any case.
Source: Forbes, “Inside The $100M Startup: What They Do and Where They Grow,” by Carol Tice, May 22, 2013