January 19, 2021  
 
  Entrepreneurial Resources - Advice for Illinois Entrepreneurs  
  Auburn, Illinois Resources for Entrepreneurs  
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Starting a Business in Auburn, Illinois

Thinking about starting a business in Auburn, Illinois? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Auburn.

Will You Be a Good Entrepreneur?

Before announcing to the world that you are going to start your own business, take inventory of your entrepreneurial instincts and capabilities.

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:

  • Reach out to other entrepreneurs in Auburn. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
  • Peruse Should You Become an Entrepreneur?. This is one of our more popular articles for folks who want to go into business for themselves.
  • Have a candid conversation with friends and family. Others sometimes know you better than you know yourself.

What Business to 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 Finding Your Niche in Life.

For step-by-step instructions on starting a variety of business types, visit the Good Businesses to Start section of our site. For example, you might be interested in our How to Start a Building & House Moving Machinery & Equipment Business guide or our Opening a Temp Agencies Business guide.

Don't forget that your new startup will be located in Auburn. If Auburn already has plenty of the kind of business you want to start, you might want to change your plans. Don't forget to review Auburn demographics to see if there's a market for what you want to sell.

Auburn, Illinois Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 3168
5-9 Employees 672
10-19 Employees 672
20-49 Employees 336
50-99 Employees 0
100-249 Employees 0
250-499 Employees 48
500-999 Employees 0
1000+ Employees 0
All Auburn Businesses 4896

As a new Auburn entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Auburn 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
Automotive Parts and Accessories Stores 1
Cemeteries and Crematories 1
Child Day Care Services 1
Children's and Infants' Clothing Stores 1
Civic and Social Organizations 1
Computer Systems Design Services 2
Crop Harvesting, Primarily by Machine 1
Drinking Places (Alcoholic Beverages) 2
Drywall and Insulation Contractors 1
Electric Power Distribution 1
Electronic Computer Manufacturing 1
Farm Supplies Merchant Wholesalers 1
Food Service Contractors 1
Full-Service Restaurants 1
General Automotive Repair 1
General Freight Trucking, Local 3
Golf Courses and Country Clubs 1
Hardware Merchant Wholesalers 1
Homes for the Elderly 2
Insurance Agencies and Brokerages 2
Landscaping Services 5
Limited-Service Restaurants 1
Masonry Contractors 1
New Car Dealers 1
Newspaper Publishers 1
Offices of Certified Public Accountants 2
Offices of Chiropractors 2
Offices of Dentists 1
Pharmacies and Drug Stores 1
Professional Employer Organizations 1
Residential Remodelers 2
Savings Institutions 1
Siding Contractors 2
Site Preparation Contractors 2
Title Abstract and Settlement Offices 1
Wholesale Trade Agents and Brokers 1

Company Formation in Auburn, Illinois

It's very important that your business is formed as a legal entity that is separate from its owners. Without a legal structure for the business, you can be held personally liable for the actions, debts and obligations of your company.

The entity you form can be 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. Just because you are starting a business in Illinois, it doesn't mean you are required to incorporate in Illinois. As it turns out, you can incorporate in the state of your choosing. 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 LLC Advantages. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Auburn, Illinois, our information on Incorporating in Illinois may be a useful resource if you decide to incorporate in Illinois.

Getting Money to Start a Business

Getting your Auburn business the capital it needs to succeed is a difficult chore. 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 Choosing VC Firms.

For Auburn entrepreneurs who need startup capital, check out our List of Illinois Angel Investors and our List of Illinois Venture Capital Firms.

Learning More About Entrepreneurship

The best entrepreneurs know that they don't know everything.

As an entrepreneur who lives in Auburn, Illinois, you will want to take advantage of the many programs available at nearby Illinois universities, colleges and community colleges. It's also worthwhile to see if there are any networking organizations for Auburn entrepreneurs.

What's Next?

You have a dream -- starting a business in Auburn. 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.

We are here to help Auburn businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Auburn 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 Auburn, Illinois

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

 

 

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