Thinking about starting a business in Jackson, South Carolina? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Jackson.
Do You Have Entrepreneurial Drive and Passion?
Most new companies do not succeed, in part because the entrepreneur did not have the tenacity and/or the skills to succeed. So, before jumping into the world of entrepreneurship, consider all of the implications of being an entrepreneur.
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Talk to other entrepreneurs in Jackson. Get their candid feedback on what it takes to start a successful business.
- We recommend reading Characteristics of Successful Entrepreneurs. For aspiring new entrepreneurs, it's a must read article.
- Seek the advice of somebody who knows you well. A support network of family and friends can be a great sounding board for good advice before you decide for sure to go into business.
Which Business to Choose?
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 Free Business Ideas.
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 How to Start a Fences Commercial & Industrial Business guide or our How to Start a Motorcycle & Motor Scooter Rental Business guide.
Always keep in mind that you are starting a business in Jackson. Some businesses will do better in Jackson than others. Study Jackson demographics and do a competitive analysis as part of your startup planning process.
Jackson, South Carolina Demographic Information
Jackson has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Jackson demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Jackson.
|Business Size||# of|
|All Jackson Businesses
As a new Jackson entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Jackson 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.
Civic and Social Organizations
Curtain and Drapery Mills
General Automotive Repair
Railroad Rolling Stock Manufacturing
Ready-Mix Concrete Manufacturing
Site Preparation Contractors
Sporting Goods Stores
Naming the Company
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.
Company names should be fun to say, and they should help people to understand what you do and how you differentiate yourself in the market.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Business.
There's one other important factor when naming a business. Since you are planning on starting a business in Jackson, it's imperative that you check now that no other South Carolina company is using the business name you want to use.
Forming a Company in Jackson, South Carolina
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Doing so will shield you from personal liability for business debts and obligations.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
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 Carolina, it doesn't mean you are required to incorporate in South Carolina. In fact, you are allowed to incorporate wherever you want. 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 Company Formation. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Jackson, South Carolina, our information on Incorporating in South Carolina may be a useful resource if you decide to incorporate in South Carolina.
Do You Need a Business Plan?
A business plan is essential to the health of your new business. In effect, a business plan is a written description of the future you envision for your business. Failure to write a business plan is a recipe for disaster.
If writing a business plan is on your to-do list, be sure to read Business Plan Contests. A great resource for business planning assistance is the free business counselors available to you through your local SCORE chapter in South Carolina.
Now It's Up To You
Most new Jackson businesses underestimate the number of challenges they will face.
Owning your own business will be a daunting task, but you can do it.
We are here to help Jackson businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Jackson 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 Jackson, South Carolina
Here are more links that we believe will help you be successful in starting a business in Jackson.