Connecticut’s capital city, Hartford, has a mixed economic situation. Although it is true that the city has previously experienced economic difficulties, it has also made considerable strides in recent years. Despite the fact that Hartford’s poverty rate is higher than the national average, the city’s economy is broad, and there are several chances for enterprises and entrepreneurs.
Hartford’s poverty rate in 2019 was 30.6%, which is much higher than the national average of 10.5%, according to the U.S. Census Bureau. Compared to the national median of $62,843, which was $35,781, the city’s median family income was lower at $35,781. It is crucial to remember that Hartford has a sizable number of schools and universities, which support the local economy. Aetna and The Hartford are just two of the significant insurance providers with offices in Hartford that offer jobs and boost the local economy.
One of the first steps you must take if you want to open a business in Connecticut is to secure a business name. You can submit an application to the Connecticut Secretary of State’s office to reserve a business name there. The application has to provide the proposed business name, the applicant’s name and address, and a $60 filing fee. Following approval of the application, the company name will be held for 120 days.
The Connecticut Secretary of State’s office issues firms a Concord number as a distinctive identifier. For tax and other state filing purposes, firms are identified by their Concord number. You must acquire a Concord number if you are opening a new business in Connecticut. By submitting a business entity registration form to the Connecticut Secretary of State’s office, you can get a Concord number. The business’s name and address, the registered agent’s name and address, and a $120 filing fee must all be included on the registration form.
You must decide on a name for your firm if you’re creating a limited liability company (LLC) in Connecticut. Your LLC’s name must be distinct from existing company names listed with the Connecticut Secretary of State’s office. The Connecticut Secretary of State’s company name database can be searched to see if a name is available. Once you’ve decided on a name for your LLC, you can register your company by submitting articles of incorporation to the Connecticut Secretary of State’s office.
Articles of dissolution must be filed with the Connecticut Secretary of State’s office if you need to dissolve an LLC there. The name of the LLC, the date of dissolution, and a declaration that all debts and liabilities of the LLC have been settled or discharged must all be included in the articles of dissolution. The cost to file articles of dissolution is $50.
In conclusion, it is significant to note that Hartford’s economy is broad and that there are several prospects for enterprises and entrepreneurs, even though the city does have a high proportion of poverty. You must reserve a business name, get a Concord number, and register your company with the Connecticut Secretary of State’s office if you want to open a business in the state of Connecticut. Articles of dissolution must be filed with the Connecticut Secretary of State’s office if you need to dissolve an LLC there.