Idaho Business Startup Guides
Opening a Business in Bonners Ferry, Idaho
Contemplating starting a business in Bonners Ferry, Idaho? We walk you through the process of opening a business in Bonners Ferry.
Are You Ready for Entrepreneurship?
An entrepreneurial life is hard work, much harder than working as an employee. Are you positive you are ready to take on this challenge?
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Grab a meal or cofee with other entrepreneurs in Bonners Ferry. Listen closely to their experiences and see if you think you too can be successful.
- Take a look at The Entrepreneurial Personality. It's a short article but it's a good reality check for those are about to jump into the world of entrepreneurship.
- Reach out to a trusted acquaintance. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.
Bonners Ferry, Idaho Demographic Information
Bonners Ferry has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Bonners Ferry demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Bonners Ferry.
As a new Bonners Ferry entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Bonners Ferry 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.
Choosing a Company Name
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.
Companies like Starbucks, Apple, Target, Microsoft and Intuit all have strong company names that are easy to remember and have become well-loved brands. Wouldn't it be nice if your new company name got on a similar track?
Numerous company naming issues are discussed in more detail in this article: Branding Advice.
As a final piece of advice, remember that because you are planning on starting a business in Bonners Ferry, it's critical that you ensure that no other Idaho company is using the business name you want to use.
Company Formation in Bonners Ferry, Idaho
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 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 Idaho, you don't necessarily have to incorporate in Idaho. 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's a lot to know about forming a company. To learn the basics of company formation, browse articles on our site, such as Offshore Company Formation. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Bonners Ferry, Idaho, our information on Incorporating in Idaho may be a useful resource if you decide to incorporate in Idaho.
Promoting Your New Business
To rise above the crowd in Bonners Ferry and advance your business, having an excellent marketing plan is fundamental to your successs.
You can learn quite a bit about marketing on our site. Responsible Marketing is an article that will stimulate a few thoughts on your marketing plan. That's just a sampling of the many useful articles we have on Marketing a Small Business.
The Art of Selling
Do you know how to sell? In order to attract customers to your new Bonners Ferry business, you need to focus on sales.
Not knowing how to sell can result in lost customers and minimal market share. Let us help you refine your selling techniques through our many useful sales advice tips.
Increase Your Entrepreneurial Knowledge
Good entrepreneurs know that they don't know everything.
Given that you are starting a business in Bonners Ferry, Idaho, you will want to take advantage of the many programs available at nearby Idaho universities, colleges and community colleges. It's also worthwhile to see if there are any networking organizations for Bonners Ferry entrepreneurs.
Never Give Up
As an entrepreneur in Bonners Ferry, you won't be working for the boss anymore. You are the boss.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Bonners Ferry and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Bonners Ferry, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Bonners Ferry, Idaho
Here are more links that we believe will help you be successful in starting a business in Bonners Ferry.
- Resources for Bonners Ferry, Idaho Entrepreneurs - Browse a variety of resources we've collected to assist Bonners Ferry entrepreneurs.
- Idaho Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Idaho.
- Idaho Small Business Development Center - The Idaho Small Business Development Center (Idaho SBDC) is a university-based organization offering a wealth of free and low-cost services to help small businesses and entrepreneurs be successful.
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