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Setting Up in NY

Expanding your business to the dynamic and bustling New York city is an exciting

move – one that can come with exponential growth and new opportunities. To set up

for success, you’ll need to make sure that you’re prepared, well-researched and a

great contender for a loveable business within your target market in NY. In this blog,

we’ll go over the important steps that job agencies notice successful businesses take!

Research Your Industry

The first step in your planning should be to take a deep dive into your industry in

New York. Trends, target markets, and competition could be different from what they

are in Melbourne, which will influence the approach that you take to promote and run

your business in the big apple.

Get a solid idea of your target market – look into their behaviour, how to reach them

and their expectations of your type of service. Use this valuable information to then

advertise your business through press releases, social media and Google, with a

focus on the New York area.

Assess Your Competition

Setting yourself apart from your New York competitors may involve different

marketing techniques and business decisions than how you make your business

stand out in Melbourne. Take a look at your competitors’ approach to promoting their

businesses and the factors of their service that make them so popular. Implement

similar strategies, while highlighting what makes your business a game-changer in

the industry.

Develop a Business Plan

Once you have a deep and thorough understanding of how your industry works in

NY, it’s time to put together a business plan that will provide the foundation for your

company to thrive in a new city. Organise your pricing, management structure, and

hiring plan, as well as your businesses financial plan including how much it will cost

to launch in NY and an estimation of the time that it will take to make a profit. Your

management structure will depend on your business entity, which we will explain in

the next step. Make sure that you’re well prepared before you open your doors to set

yourself up for success.

Register Your Business

To get up and running, you’ll need to register your business in NY. You’ll first choose

a business entity, which will determine your degree of legal protection, as well as

influence how you will be taxed.

Your business entity will outline how your business will need to be structured and

your business registration process. The best way to determine the right business

entity for you is to contact a financial or legal professional based in NY.

Once you have registered your business, you will need to get your EIN and register

for taxes with the New York Tax Department. You can find more information about

what is required to register for tax in NY on their official New York State website.

Seek Support

To get set up in NY, you will want to make sure that you’re following the correct

procedures and that you haven’t missed any important steps. If you need advice, the

New York State website has a page full of information on starting a business,

including understanding licensing, insurance, and financing programs.

Woods & Co

At Woods & Co, we’re experts at finding the right people for the right job. We strive

to exceed expectations of both job seekers and employers, building long lasting relationships.

Contact us today to learn more about what we can do for you!

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