August 3, 2020  
 
  Entrepreneurial Resources - Advice for South Dakota Entrepreneurs  
  Garretson, South Dakota Resources for Entrepreneurs  
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Start a Business in Garretson, South Dakota

Are you starting a business in Garretson, South Dakota? This article discusses the most important things to consider when opening a business in Garretson.

What Business Are You Starting?

An important decision is what kind of business you want to start. To help you decide on a business type, we encourage you to read Evaluating Your Idea.

For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our Opening a Tractor Dealership guide or our Starting a Smokestacks Business guide.

Always keep in mind that your new startup will be located in Garretson. The business you want to start may already be well-represented in Garretson. A critical consideration is whether Garretson demographics mesh well with your startup concept.

Garretson, South Dakota Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 132
5-9 Employees 21
10-19 Employees 15
20-49 Employees 6
50-99 Employees 6
100-249 Employees 0
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Garretson Businesses 180

As a new Garretson entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Garretson 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
Ambulance Services 1
Beauty Salons 1
Beer, Wine, and Liquor Stores 1
Child Day Care Services 2
Commercial Lithographic Printing 1
Community Food Services 1
Drinking Places (Alcoholic Beverages) 2
Farm Supplies Merchant Wholesalers 2
Fertilizer (Mixing Only) Manufacturing 1
Finish Carpentry Contractors 2
Full-Service Restaurants 2
General Automotive Repair 1
Gift, Novelty, and Souvenir Stores 1
Golf Courses and Country Clubs 1
Hardware Stores 1
Insurance Agencies and Brokerages 2
Limited-Service Restaurants 2
Miscellaneous Intermediation 1
New Housing Operative Builders 1
Nursing Care Facilities 1
Offices of Lawyers 1
Petroleum Bulk Stations and Terminals 1
Roofing Contractors 2
Siding Contractors 1
Site Preparation Contractors 2
Used Car Dealers 1
Wired Telecommunications Carriers 1

Forming a Company in Garretson, South Dakota

It's essential that you choose the right legal structure for your new entity. 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 corporation, LLC, sole proprietorship, partnership or other structure.

Incorporation 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. If you are starting a business in South Dakota, it doesn't mean you are required to incorporate in South Dakota. As it turns out, you can incorporate wherever you want. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.

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 Pre-Incorporation Agreements. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Garretson, South Dakota, our information on Incorporating in South Dakota may be a useful resource if you decide to incorporate in South Dakota.

Getting Money to Start a Business

Getting your Garretson business the capital it needs to succeed requires strong organization skills and perseverance. 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 raising capital, such as Attracting Investors.

For Garretson entrepreneurs on the hunt for startup funding, browse our List of South Dakota Angel Investors and our List of South Dakota Venture Capital Firms.

Getting the Word Out About Your New Venture

To grow your Garretson business, you need a solid marketing plan.

There are myriad resources on this site to help you with your marketing plan. Television Advertising Rates is a good read to get your marketing juices flowing. That's just a sampling of the many useful articles we have on Marketing a Small Business.

Ramping Up Sales

Being able to sell is critical to your business success. Whether you are focused on selling local customers in Garretson or are selling to customers throughout South Dakota, the United States or even the world, you have to be able to sell.

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.

Sales Forecasting offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.

What's Next?

You have a dream -- starting a business in Garretson. To achieve your dream, you have to persevere, even when the odds are against you.

From this point on, you control your own destiny.

This site is all about helping entrepreneurs in Garretson and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Garretson 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 Garretson, South Dakota

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

 

 

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