California Business Startup Firms Look To Succeed In 2014
On behalf of The Law Office of Lynnette Ariathurai, A Professional Corporation posted in Business Formation & Planning on Tuesday, January 7, 2014.
Creativity combined with business acumen can potentially yield innovative results. This was the case in 2013 for many business startup companies who managed to make names for themselves. These businesses found their own marketing angles, effectively pursued their targeted niches and successfully obtained venture capital during their first year of business. Now on the radar, these companies are looking to position themselves to make a significant impact in 2014 in California.
One company in California which had experienced a successful startup in 2013 is Lyft. This company is a ridesharing service which began with a donation-based business model due to state regulations which made it illegal to charge a fee for ridesharing. However, in September 2013 ridesharing was legalized by the California Public Utilities Commission. This enabled the company to begin charging set fees decided by the company.
Another California startup company which made a splash in 2013 is Clinkle. This company is a mobile payments firm which was created while its founder was studying computer science in college. The new business was able to raise $25 million in its seed round of raising startup funds. The founder was able to graduate from college a year early in order to work on his new company full-time.
These success stories can inspire many entrepreneurs who have good ideas to begin their own business startup ventures in California or in any other state. However, just having a good idea is not enough to ensure success. It is also important to have an effective business plan in place to use as a guide along the way. Additionally, making sure the business plan conforms with all applicable rules and regulations is essential.
Source: Business Insider, The 13 Hottest Startups To Watch For In 2014, Megan Rose Dickey, Dec. 30, 2013