August 3, 2020  
 
  Entrepreneurial Resources - Advice for Arkansas Entrepreneurs  
  Bald Knob, Arkansas Resources for Entrepreneurs  
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Starting a Business in Bald Knob, Arkansas

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

Is Becoming an Entrepreneur Right for You?

Being an entrepreneur is hard work, much more challenging than working as an employee. Are you positive you have the stamina and skills to succeed on your own?

While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:

  • Reach out to other entrepreneurs in Bald Knob. Get their take on what it's really like to be an entrepreneur.
  • Peruse Characteristics of Successful Entrepreneurs. This is one of our more popular articles for folks who want to go into business for themselves.
  • Seek the advice of somebody who knows you well. That's the best way to get a truly objective assessment as to whether others think you have what it takes.

Bald Knob, Arkansas Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 126
5-9 Employees 69
10-19 Employees 27
20-49 Employees 24
50-99 Employees 15
100-249 Employees 0
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Bald Knob Businesses 261

As a new Bald Knob entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Bald Knob 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
Business Associations 1
Child Day Care Services 2
Cut Stock, Resawing Lumber, and Planing 1
Farm Supplies Merchant Wholesalers 1
Fitness and Recreational Sports Centers 1
Full-Service Restaurants 5
Funeral Homes and Funeral Services 2
Furniture Stores 1
General Automotive Repair 2
Golf Courses and Country Clubs 1
Hardware Stores 1
Landscaping Services 1
Limited-Service Restaurants 3
Local Messengers and Local Delivery 1
Marketing Consulting Services 1
Motor and Generator Manufacturing 1
Newspaper Publishers 1
Offices of Chiropractors 2
Offices of Dentists 2
Pharmacies and Drug Stores 1
Pipeline Transportation of Natural Gas 1
Securities Brokerage 1
Site Preparation Contractors 1
Steel Investment Foundries 1
Tax Preparation Services 1
Tobacco Stores 1
Veterinary Services 1
Video Tape and Disc Rental 1
Water Supply and Irrigation Systems 1

What About Franchising Opportunities?

As you drive around Bald Knob, it's apparent that franchising has become a very popular way to start a business. Is franchising maybe a better way for you to start your business?

We advise the entrepreneurs we work with to look into purchasing a franchise. We have many articles on franchises, such as Detecting Franchising Scams. Get a thorough education on franchising by browsing all of our Articles on Franchising.

To learn about specific franchise opportunities, check out our Franchise Directory.

Representative franchise opportunities include AristoCare and FASTSIGNS. Alternatively, you can browse franchise categories, such as Health and Diet Franchises and Ice Cream Franchises.

Note on Bald Knob Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Bald Knob.

Forming a Company in Bald Knob, Arkansas

A critical step is ensuring 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.

When forming a company, you will decide among 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. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Arkansas, you don't necessarily have to incorporate in Arkansas. In fact, 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 are many nuances to forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Incorporating Online. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Bald Knob, Arkansas, our web page covering Incorporating in Arkansas may be a useful resource if you decide to incorporate in Arkansas.

Raising Capital for Your Business

Raising money to fund your new Bald Knob business is very difficult due to the ongoing business credit crunch. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.

Take advantage of our many articles on securing funding, such as Borrowing Money from Friends and Family.

For Bald Knob entrepreneurs with great ambition but a shortage of investment capital, check out our List of Arkansas Angel Investors and our List of Arkansas Venture Capital Firms.

Bring in Revenues

Do you know how to sell? In order to attract customers to your new Bald Knob business, you need to focus on sales.

So what does it take to bring in more prospects and close more business? The good news is we can help you to make selling a big competitve advantage for your new firm.

Anticipating Prospect Responses is worth reading, as it may give you some good ideas on how to sell your products or services. We have many more good articles on selling that you may enjoy reading.

Moving Forward

As an entrepreneur in Bald Knob, you won't be working for the boss anymore. You are the boss.

From this point on, you control your own destiny.

Our goal here is to promote the vitality and growth of small businesses in Bald Knob and throughout the United States . We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.

More Entrepreneurial Resources for Starting a Business in Bald Knob, Arkansas

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

 

 

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