Oklahoma Business Startup Guides
Opening a Business in El Reno, Oklahoma
Contemplating starting a business in El Reno, Oklahoma? We walk you through the process of opening a business in El Reno.
Choosing the Right Company to Start
There are many businesses that you can start. How do you know which type of business is right for you? If you are struggling with what type of business to start, read Business Ideas That Don't Make Sense.
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 Opening a Paint Wholesale & Manufacturers Business guide or our Opening a Plumbing Equipment Rental Business guide.
Don't forget that your new business will be in El Reno. If El Reno already has plenty of the kind of business you want to start, you might want to change your plans. Only by spending some time analyzing El Reno demographics can you decide if there will be strong demand for your business idea.
El Reno, Oklahoma Demographic Information
El Reno has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for El Reno demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in El Reno.
Businesses
As a new El Reno entrepreneur, you may also be interested in the table below. It shows how many businesses there are in El Reno 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
Selecting a Name For Your Venture
Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset.
We strongly advocate that you make sure the ".com" domain name is available for your company name. Every business needs a strong Web presence these days, and having a non ".com" domain means somebody else may outrank you in the search results for your own company name.
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 starting a business in El Reno, it's imperative that you check now that no other Oklahoma company is using the business name you want to use.
Company Formation in El Reno, Oklahoma
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Among other things, forming a legal entity for the business limits your liabilities.
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. 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 Oklahoma, you don't necessarily have to incorporate in Oklahoma. In fact, you are allowed to incorporate in any state you would like to. 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 ESOP Formation. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in El Reno, Oklahoma, our information on Incorporating in Oklahoma may be a useful resource if you decide to incorporate in Oklahoma.
Don't Skip the Business Plan
Creating a business plan is essential in maximizing the prospects of your new company. Indeed, your business plan is your game plan for how you hope to grow your business. Starting a business without a business plan
If you want more information on writing business plans, we recommend reading Business Plan Contests. A great resource for business planning assistance is the face-to-face free consulting available from your local SCORE chapter in Oklahoma.
Where to Get Money to Start a Company
Getting your El Reno business the capital it needs to succeed requires strong organization skills and perseverance. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Getting a Small Business Loan.
For El Reno entrepreneurs in need of startup financing, check out our List of Oklahoma Angel Investors and our List of Oklahoma Venture Capital Firms.
Advancing Your Entrepreneurial Skills
Successful entrepreneurs know that they need to continually improve.
With your business being located in El Reno, Oklahoma, you will want to take advantage of the learning programs at local Oklahoma educational institutions. It's also worthwhile to see if there are any networking organizations for El Reno entrepreneurs.
Now It's Up To You
Most new El Reno businesses underestimate the number of challenges they will face.
Owning your own business will be a daunting task, but you can do it.
Our goal here is to promote the vitality and growth of small businesses in El Reno and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in El Reno, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in El Reno, Oklahoma
Here are more links that we believe will help you be successful in starting a business in El Reno.
- Resources for El Reno, Oklahoma Entrepreneurs - Browse a variety of resources we've collected to assist El Reno entrepreneurs.
- Oklahoma Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Oklahoma.
- Oklahoma Small Business Development Center - Whether you are in business or thinking about it, the Oklahoma Small Business Development Center staff can assist you. Their goal is to help Oklahoma entrepreneurs like you be more successful.
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