As we celebrate the greatest country on earth – AMERICA, great businesses also should be celebrated, as some companies seem able to weather any storm – the dream of a true entrepreneur. The oldest American company has been in existence since 1752, before our county was founded. Despite wars, depressions, recessions, and global pandemics, these companies have managed to maintain a high-quality offering and position themselves in the market to stand the test of time.
Here are some American companies that were all started more than 150 years ago and still thrive today:
Originally formed in Pennsylvania, Cigna was the first marine insurance company in the United States. The company headquartered in Bloomfield, Connecticut is still the nation’s oldest stockholder owned insurer.
JIM BEAM (1795) my favorite:
Bourbon was born in the 1770s when corn farmers of the Kentucky region of Virginia distilled their excess crop into a sweeter whiskey. In 1795 history was made when distiller Jacob Beam sold his first barrel of whiskey. The company didn’t change its name to Jim Beam until 1943 named after Colonel James B. Beam, the fourth generation of the Beam family to take over the distillery. Today, it is run by the seventh generation of the Beam Family.
JP MORGAN CHASE (1799):
The largest bank in the United States had meager beginnings. Founded by Aaron Burr, it was the second commercial bank in New York City. It began as a venture to lay waterworks for the city of New York and the charter included a clause that allowed Burr to operate it as a bank after the waterworks project was completed. Through dozens of mergers, it became JP Morgan and a principal investor in the railroad in the 1800s, cementing its place in history.
Colgate wasn’t always a toothpaste company. Actually, Colgate was started by William Colgate in 1806 in New York City and the business sold soaps and candles, eventually introducing perfumes in 1866. The company then debuted its Colgate aromatic toothpaste in jars in 1873. Now Colgate has sales of more than $15 billion and sells its products in more than 200 counties and territories worldwide.
The bank was originally founded in 1812 as the City Bank of New York. In 1865 the bank joined the U.S. National banking system and was renamed The National City Bank of New York and in 1894 became the largest bank in the Untied States. After several name changes throughout the years, the company merged with Travelers Group in 1998 to become Citigroup, the company we know today.
Who would have thought that America’s oldest firearm maker first became known for its commercial typewriter? That is the humble beginnings of Remington founded by Eliphalet Remington in New York. One of his sons forged a barrel of his own and after having it rifled, placed second in a local shooting competition. The company is still making barrels today at their state of the art research facility.
Rowland Hussey Macy started with four dry goods stores in 1843 and opened the original Macy’s store in downtown Massecuites. The first New York store opened in 1858 on Sixth Street and moved to it current 34th and Broadway location known all over the work in 1904.
Each business has to start somewhere and knowing how to move it through its Business Legal Lifecycle® is the key to staying profitable for generations to enjoy. I’m the CEO of GoLegalYourself.com where we provide legal tools for savvy entrepreneurs.
Happy Birthday America!
For more information on how to legally protect your business please buy a copy of my bestselling book: ‘Go Legal Yourself’ on Amazon or visit my website at www.golegalyourself.com
Disclaimer: This information is made available by Bagla Law Firm, APC for educational purposes only as well as to give you general information and a general understanding of the law, and not to provide specific legal advice. This information should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.