Missouri Business Startup Guides
Starting a Business in Versailles, Missouri
Thinking about starting a business in Versailles, Missouri? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Versailles.
Is Becoming an Entrepreneur Right for You?
Most new businesses fail, in part because the entrepreneur did not have the entrepreneurial skills and traits needed to succeed. So, before you open a business, consider all of the implications of being an entrepreneur.
Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:
- Talk to other entrepreneurs in Versailles. Get their take on what it's really like to be an entrepreneur.
- 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. That's the best way to get a truly objective assessment as to whether others think you have what it takes.
Versailles, Missouri Demographic Information
Versailles has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Versailles demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Versailles.
Businesses
As a new Versailles entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Versailles 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.
Businesses
What About Buying an Existing Versailles Business?
An excellent way to get started in business is to Buy a Business in Missouri. Follow that link and you may find several good businesses for sale in Versailles.
Before buying a business, be sure to read this article: Buying a Business.
Selecting a Name For Your Venture
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.
Company names need to be easy to spell, easy to pronounce, and easy to remember.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Company.
There's one other important factor when naming a business. Since you are planning on starting a business in Versailles, it's imperative that you check now that your company name has not already been claimed by another Missouri business.
Company Formation in Versailles, Missouri
It's very important 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 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. Just because you are starting a business in Missouri, it doesn't mean you are required to incorporate in Missouri. 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's a lot to know about forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as C Corp Versus S Corp. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Versailles, Missouri, our web page covering Incorporating in Missouri may be a useful resource if you decide to incorporate in Missouri.
Getting Money to Start a Business
Raising money to fund your new Versailles business is not an easy task. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.
Take advantage of our many articles on raising capital, such as Angel Investors.
For Versailles entrepreneurs on the hunt for startup funding, check out our List of Missouri Angel Investors and our List of Missouri Venture Capital Firms.
Moving Forward
Most new Versailles 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 Versailles and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Versailles, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Versailles, Missouri
Here are more links that we believe will help you be successful in starting a business in Versailles.
- Resources for Versailles, Missouri Entrepreneurs - Browse a variety of resources we've collected to assist Versailles entrepreneurs.
- Missouri Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Missouri.
- Missouri Small Business Development Center - Missouri Small Business Development Center business specialists are uniquely qualified to help small businesses get started, develop and thrive.
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