Are you starting a business in Little Rock, Iowa? This article discusses the most important things to consider when opening a business in Little Rock.
Are You Ready for Life as an Owner?
Before you get too far along in the process, consider your entrepreneurial instincts and capabilities.
With so much at stake when you start a business, we strongly recommend you do the following before you proceed:
- Talk to other entrepreneurs in Little Rock. Listen closely to their experiences and see if you think you too can be successful.
- 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. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.
Which Business to Choose?
An important decision is what kind of business you want to start. To help you decide on a business type, we encourage you to read Free Business Ideas.
For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our Starting an Ice Melting Equipment & Supplies Business guide or our Opening a Building & House Leveling Business guide.
Always keep in mind that starting a business in Little Rock has some implications. If Little Rock already has plenty of the kind of business you want to start, you might want to change your plans. A critical consideration is whether Little Rock demographics mesh well with your startup concept.
Little Rock, Iowa Demographic Information
Little Rock has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Little Rock demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Little Rock.
|Business Size||# of|
|All Little Rock Businesses
As a new Little Rock entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Little Rock 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.
General Automotive Repair
Should You Franchise?
As you drive around Little Rock, you'll conclude that many business owners have opted to buy a franchise, rather than starting a business on their own. But is franchising the right option for you?
Most business experts recommend that you investigate buying a franchise. To help you learn more about franchising, we've gathered a ton of articles on franchising, including Franchise Law. Get a thorough education on franchising by browsing all of our Articles on Franchising.
A comprehensive list of franchisors is available via our List of Franchise Opportunities.
Representative franchise opportunities include Precision Concrete Cutting and The Herb Stop. Alternatively, you can browse franchise categories, such as Accounting Franchises and Interior Environment Franchises.
Note on Little Rock Franchise Opportunities: To find out if a franchise you are interested in is available in Little Rock, you will need to get in direct contact with the franchisor.
Choosing a Company Name
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.
Pick a company name that isn't too generic. If you do a search engine search for your proposed name and a billion results come up, you may want to reconsider the name. It's much easier to come up in the search engines when your name is fairly unique.
For other considerations regarding naming a company, we recommend this article: Naming a Business.
On a final note, given that you are opening a business in Little Rock, it's very important that you make sure no other Iowa company is using the business name you want to use.
Getting Money to Start a Business
Getting your Little Rock business the capital it needs to succeed is very difficult due to the ongoing business credit crunch. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Microlending as a Small Business Funding Source.
For Little Rock entrepreneurs in need of startup financing, check out our List of Iowa Angel Investors and our List of Iowa Venture Capital Firms.
Marketing Your New Venture
To rise above the crowd in Little Rock and grow your business, you'll need to have a good marketing plan.
You can learn plenty about marketing on our site. Pricing is a good read to get your marketing ideas flowing. That's just a sampling of the many useful articles we have on Marketing a Small Business.
Never Give Up
You have a dream -- starting a business in Little Rock. To achieve your dream, you have to persevere, even when the odds are against you.
If you choose the right business and love what you do, you will greatly increase your odds of success.
Our goal here is to promote the vitality and growth of small businesses in Little Rock and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Little Rock, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Little Rock, Iowa
Here are more links that we believe will help you be successful in starting a business in Little Rock.
- Resources for Little Rock, Iowa Entrepreneurs - Browse a variety of resources we've collected to assist Little Rock entrepreneurs.
- Iowa Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Iowa.
- Iowa Small Business Development Center - The Iowa SBDC conducts research, counsels, and trains business people in management, financing, and operating small businesses. They provide comprehensive information services and access to experts in a variety of fields. This is a great resource for Iowa entrepreneurs!