April 24, 2019  
 
  Entrepreneurial Resources - Advice for Iowa Entrepreneurs  
  Traer, Iowa Resources for Entrepreneurs  
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Opening a Business in Traer, Iowa

Contemplating starting a business in Traer, Iowa? We walk you through the process of opening a business in Traer.

Is Becoming an Entrepreneur Right for You?

Most startup businesses fail, in part because the business owner did not have the perseverance and abilities that are necessary to succeed. So, before you open a business, consider all of the implications of being an entrepreneur.

Here are three things we recommend you do before you fully commit to starting a new business of your own.

  • Speak with other entrepreneurs in Traer. Get their take on what it's really like to be an entrepreneur.
  • You should read Business Failure. It's a good read for those who are thinking about becoming an entrepreneur.
  • Involve a spouse, family member or trusted friend in the decision. That's the best way to get a truly objective assessment as to whether others think you have what it takes.

What Business Are You Starting?

An important decision is what kind of business you want to start. We recommend that you read How to Evaluate a Business 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 Starting a Metaphysicians Business guide or our Opening a Scientific & Technical Consultants Business guide.

Remember that your new startup will be located in Traer. Some businesses will do better in Traer than others. Only by spending some time analyzing Traer demographics can you decide if there will be strong demand for your business idea.

Traer, Iowa Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 147
5-9 Employees 54
10-19 Employees 15
20-49 Employees 15
50-99 Employees 3
100-249 Employees 3
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Traer Businesses 237

As a new Traer entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Traer 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
Bowling Centers 1
Burial Casket Manufacturing 1
Child Day Care Services 1
Convenience Stores 1
Credit Unions 1
Drinking Places (Alcoholic Beverages) 3
Farm Supplies Merchant Wholesalers 1
Fitness and Recreational Sports Centers 1
Florists 1
Framing Contractors 1
Full-Service Restaurants 1
Funeral Homes and Funeral Services 1
Furniture Stores 1
General Automotive Repair 1
General Freight Trucking, Local 2
Golf Courses and Country Clubs 1
Hardware Stores 1
Insurance Agencies and Brokerages 5
Limited-Service Restaurants 2
Motor Vehicle Metal Stamping 1
New Car Dealers 1
Nursing Care Facilities 1
Offices of Certified Public Accountants 1
Offices of Chiropractors 1
Offices of Dentists 1
Offices of Lawyers 2
Offices of Optometrists 1
Offices of Other Holding Companies 1
Outdoor Power Equipment Stores 1
Payroll Services 1
Pharmacies and Drug Stores 1
Professional Organizations 1
Temporary Shelters 1
Tire Dealers 1
Veterinary Services 1
Wholesale Trade Agents and Brokers 1

Should You Buy an Existing Traer Business?

An excellent way to get started in business is to Buy a Business in Iowa. Follow that link and you may find several good businesses for sale in Traer.

Before buying a business, be sure to read this article: How to Buy a Business.

Forming a Company in Traer, Iowa

A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Doing so will shield you from personal liability for business debts and obligations.

When forming a company, you will pick from many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.

Incorporating is a very common way to legally create a business entity. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Iowa, you don't necessarily have to incorporate in Iowa. As it turns out, you are allowed to 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 Offshore Company Formation. You may also want to seek the advice of an lawyer. On a final note, since you will be starting a business in Traer, Iowa, our web page covering Incorporating in Iowa may be a useful resource if you decide to incorporate in Iowa.

Where to Get Money to Start a Company

Raising money to fund your new Traer business 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.

To learn about raising money, we recommend you read the fundraising articles on our site, such as Getting a Small Business Loan.

For Traer entrepreneurs who want to raise money for a new venture, we have assembled a List of Iowa Angel Investors and our List of Iowa Venture Capital Firms.

Marketing Your New Venture

To grow your Traer business, you'll need to have a good marketing plan.

You can learn quite a bit about marketing on our site. Newspaper Advertising Costs discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. That's just one of the many useful articles we have on Marketing a Small Business.

Moving Forward

Most new Traer businesses underestimate the number of challenges they will face.

From this point on, you control your own destiny.

Our goal here is to promote the vitality and growth of small businesses in Traer and throughout the United States . We want to be there for you to answer your business questions, whether you are a new Traer entrepreneur who is just getting started or you are already up and running with your new venture.

More Entrepreneurial Resources for Starting a Business in Traer, Iowa

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

  • Resources for Traer, Iowa Entrepreneurs - Browse a variety of resources we've collected to assist Traer 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!
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Additional Resources for Entrepreneurs

Buying a Business

Writing a Business Plan

Raising Money

Incorporate

Small Business Marketing

Advertising Advice

Public Relations -

Customer Service Tips

Entrepreneurial Selling

Workplace Safety