Pittsburgh is a great place for people with big ideas and the drive to make them profitable. It’s no surprise that dozens of tech startups emerge from the University of Pittsburgh, Carnegie Mellon and other area schools each year. In addition, since the city established itself as an epicenter for cutting-edge robotics, artificial intelligence and biomedical engineering, people across Allegheny County have seized on the chance to explore new job opportunities.
With the professional talent, funding sources and sense of community that exist in the Pittsburgh tech sector, entrepreneurs here are at an advantage. If you are looking to launch a startup in Pittsburgh, consider these plans of action:
- Talk with other entrepreneurs — Organizations like the Pittsburgh Tech Council and Black Tech Nation offer valuable resources for new tech entrepreneurs, including networking opportunities with seasoned professionals. Local universities also work to facilitate connections within the tech community and various groups host demo days, lectures and social meetups.
- Research funding options — Venture capital firms and alternative funding sources have shown themselves prepared to provide substantial amounts of money to new Pittsburgh businesses. Whether you’re looking for a few thousand dollars to get your idea off the ground or a few hundred thousand dollars to upscale operations, finding the right investor can be game-changing.
- Explore tax breaks — Pittsburgh, Allegheny County and the Commonwealth of Pennsylvania all offer business tax incentives. Depending on the type and size of your business, you may be eligible for tax abatements, tax increment financing or tax exempt financing.
- Structure for the future — In Pennsylvania, you may establish a corporation, LLC, partnership or sole proprietorship. Each type of business structure has its pros and cons. When deciding on the type of entity that’s right for your business, consider your long-term goals, not only your immediate needs.
- Create clear employee policies — Whether you hope to bring on a handful of employees or hundreds, proving them with clear rules, guidelines and employment policies can help protect your business from conflicts arising in the future.
The attorneys at Feldstein Grinberg Lang & McKee, P.C. are capable advisers in Pittsburgh’s new tech market. If you are planning to start a company, or if you want to establish a responsible plan for protecting your current business, we’re here to help. From our office in downtown Pittsburgh, we serve clients in Allegheny County and throughout Pennsylvania. To schedule a free 15-minute consultation, call us at 412-301-7395 or contact us online.