Indiana Business Startup Guides
Start a Business in Speedway, Indiana
Are you starting a business in Speedway, Indiana? This article discusses the most important things to consider when opening a business in Speedway.
What Type of Business Should You Start?
Choosing a business that is right for you is very important. To stir your creative juices on what kind of business to start, take a look at Evaluating Your Idea.
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 How to Start a Wholesale Office Furniture & Equipment Business guide or our Starting a Sicilian Restaurant guide.
Don't forget that your new startup will be located in Speedway. The business you want to start may already be well-represented in Speedway. Don't forget to review Speedway demographics to see if there's a market for what you want to sell.
What About Buying an Existing Speedway Business?
An excellent way to get started in business is to Buy a Business in Indiana. Follow that link and you can assess several good businesses for sale in Speedway.
For anybody who wants to buy a business, we recommend reading this useful article: How to Buy a Business.
Forming a Company in Speedway, Indiana
It's very important that your business is formed as a legal entity that is separate from its owners. Doing so will insulate you from personal liability for business debts and obligations.
When forming a company, you will select one of many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation is a very popular way to form a business. A key decision is whether to form and S-Corp or a C-Corp, and you also must decide in which state you will incorporate. If you are starting a business in Indiana, it doesn't mean you are required to incorporate in Indiana. As it turns out, you can incorporate wherever you want. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
There are many nuances to forming a company. To learn the fundamentals of company formation, browse articles on our site, such as Pre-Incorporation Agreements. You may also want to seek the advice of an lawyer. On a final note, since you will be starting a business in Speedway, Indiana, our web page covering Incorporating in Indiana may be a useful resource if you decide to incorporate in Indiana.
Raising Capital for Your Startup
Raising money to fund your new Speedway business is very difficult due to the ongoing business credit crunch. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.
On the bright side, this site contains dozens of articles on raising money, including one we recommend entitled Realistic Debt Financing Options.
For Speedway entrepreneurs who want to raise money for a new venture, browse our List of Indiana Angel Investors and our List of Indiana Venture Capital Firms.
Getting the Word Out About Your New Startup
Whether your goal is to attract Speedway customers or you plan on selling elsewhere, you'll need to have a good marketing plan.
We have some helpful resources on this site for entrepreneurs who are working on marketing plans. Pricing and Positioning is a good read to get your marketing thoughts flowing. That's just one of the many useful articles we have on Marketing a Small Business.
How to Improve Your Entrepreneurial Abilities
The best business owners recognize that they don't know everything.
Given that you are starting a business in Speedway, Indiana, you should check out some of the many programs available at nearby Indiana universities, colleges and community colleges. You should also check if there are any Speedway networking organizations.
Never Give Up
You have a dream -- starting a business in Speedway. 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.
This site is all about helping entrepreneurs in Speedway and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Speedway, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Speedway, Indiana
Here are more links that we believe will help you be successful in starting a business in Speedway.
- Resources for Speedway, Indiana Entrepreneurs - Browse a variety of resources we've collected to assist Speedway entrepreneurs.
- Indiana Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Indiana.
- Indiana Small Business Development Center - The Indiana Small Business Development Center assists Indiana entrepreneurs and small businesses through one on one counseling, education and business resources.
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