Opening a Business in Hankinson, North Dakota

Are you starting a business in Hankinson, North Dakota? This article discusses the most important things to consider when opening a business in Hankinson.

Are You Sure You Want to Do This?

Before you get too far along in the process, assess your entrepreneurial instincts and capabilities.

While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:

• Talk to other entrepreneurs in Hankinson. Ask them candidly what it's like to run a business.
• We recommend reading Should You Become an Entrepreneur?. For aspiring new entrepreneurs, it's a must read article.
• Have a candid conversation with friends and family. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.

Hankinson, North Dakota Demographic Information

Hankinson has an active business community that includes small businesses, mid-sized businesses and large businesses.

To give you a better feel for Hankinson demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Hankinson.

Business Size	# of Businesses
1-4 Employees	99
5-9 Employees	36
10-19 Employees	21
20-49 Employees	3
50-99 Employees	3
100-249 Employees	0
250-499 Employees	0
500-999 Employees	3
1000+ Employees	0
All Hankinson Businesses	165

As a new Hankinson entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Hankinson for each business category. By looking at this chart, you can get a general sense for how much competition there is in the business niche that you are pursuing.

Business Type	# of Businesses
Ambulance Services	1
Beer, Wine, and Liquor Stores	1
Casino Hotels	1
Child Day Care Services	1
Civic and Social Organizations	1
Commercial Screen Printing	1
Construction Sand and Gravel Mining	2
Credit Unions	1
Display Advertising	1
Drinking Places (Alcoholic Beverages)	1
Electrical Contractors	1
Farm Supplies Merchant Wholesalers	1
Full-Service Restaurants	3
General Automotive Repair	2
Gift, Novelty, and Souvenir Stores	1
Hardware Stores	1
Insurance Agencies and Brokerages	2
Landscaping Services	1
Limited-Service Restaurants	1
Newspaper Publishers	1
Nursing Care Facilities	1
Offices of Chiropractors	1
Petroleum Bulk Stations and Terminals	1
Pharmacies and Drug Stores	1
Site Preparation Contractors	2
Snack and Nonalcoholic Beverage Bars	1
Solid Waste Collection	1

Have You Considered Buying an Existing Hankinson Business?

We've created a handy website page for those who want to Buy a Business in North Dakota. Follow that link and you may find several good businesses for sale in Hankinson.

If you are serious about buying a business, you may want to read this article: Buying a Business.

Naming the Business

A big decision when starting a company is choosing a company name. Believe it or not, choosing a good company name can be a big contributor to your business success.

We strongly advocate that you make sure the ".com" domain name is available for your company name. Every business needs a strong Web presence these days, and having a non ".com" domain means somebody else may outrank you in the search results for your own company name.

For other considerations regarding naming a company, we recommend this article: Naming a Company.

As a final piece of advice, remember that because you are opening a business in Hankinson, it's very important that you make sure no other North Dakota company is using the business name you want to use.

Don't Forget to Create a Business Plan

Having a business plan is vital to the health of your new business. Simply put, a business plan describes what you plan to do with the business and how you plan to do it. Failure to write a business plan makes you more prone to becoming a business failure statistic.

If writing a business plan is on your to-do list, be sure to read Business Plan Contests. You can also get free counseling sessions provided by your local SCORE chapter in North Dakota.

Learning More About Entrepreneurship

Good business owners recognize that they don't know everything.

Given that you are starting a business in Hankinson, North Dakota, you will want to take advantage of the learning programs at local North Dakota educational institutions. It's also worthwhile to see if there are any networking organizations for Hankinson entrepreneurs.

Next Steps

You have a dream -- starting a business in Hankinson. To achieve your dream, you have to persevere, even when the odds are against you.

Owning your own business will be a daunting task, but you can do it.

We are here to help Hankinson businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Hankinson, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Hankinson, North Dakota

Here are more links that we believe will help you be successful in starting a business in Hankinson.

• Resources for Hankinson, North Dakota Entrepreneurs - Browse a variety of resources we've collected to assist Hankinson entrepreneurs.
• North Dakota Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in North Dakota.
• North Dakota Small Business Development Center - The North Dakota Small Business Development Center's mission is to provide high quality business assistance in the form of counseling, training, and research to existing and prospective North Dakota small businesses.
• Hankinson, North Dakota Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for Hankinson, North Dakota newspapers, including ad costs for newspapers serving the Hankinson area.

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