Missouri Business Startup Guides
Starting a Business in Lees Summit, Missouri
Thinking about starting a business in Lees Summit, Missouri? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Lees Summit.
Do You Have Entrepreneurial Drive and Passion?
Before quitting your day job, assess your entrepreneurial instincts and capabilities.
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 Lees Summit. Get their candid feedback on what it takes to start a successful business.
- We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
- Get feedback from somebody whom you trust. 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.
Lees Summit, Missouri Demographic Information
Lees Summit has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Lees Summit demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Lees Summit.
Businesses
As a new Lees Summit entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Lees Summit 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
Have You Considered Buying an Existing Lees Summit Business?
We've created a helpful website page for those who want to Buy a Business in Missouri. Follow that link and you may find several good businesses for sale in Lees Summit.
If you are serious about buying a business, you may want to read this article: How to Buy a Business.
Forming a Company in Lees Summit, Missouri
It's essential 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.
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 Missouri, you don't necessarily have to incorporate in Missouri. In fact, you are allowed to 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 Getting an EIN. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Lees Summit, Missouri, our information on Incorporating in Missouri may be a useful resource if you decide to incorporate in Missouri.
Make Sure You Have a Business Plan
A business plan is critical to the health of your new business. Indeed, a business plan describes what you plan to do with the business and how you plan to do it. Not having a business plan is a recipe for disaster.
If you want more information on writing business plans, we recommend reading Find Sample Business Plans Online. You can also get face-to-face free consulting available from your local SCORE chapter in Missouri.
Raising Capital for Your Venture
Finding the funds to fuel the growth of your Lees Summit business is not an easy task. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.
The good news is this site contains dozens of articles on raising money, including one we recommend entitled Getting a Small Business Loan.
For Lees Summit entrepreneurs who want to raise money for a new venture, check out our List of Missouri Angel Investors and our List of Missouri Venture Capital Firms.
Now It's Up To You
You have a dream -- starting a business in Lees Summit. To achieve your dream, you have to persevere, even when the odds are against you.
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 Lees Summit and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Lees Summit, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Lees Summit, Missouri
Here are more links that we believe will help you be successful in starting a business in Lees Summit.
- Resources for Lees Summit, Missouri Entrepreneurs - Browse a variety of resources we've collected to assist Lees Summit entrepreneurs.
- Missouri Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Missouri.
- Missouri Small Business Development Center - Missouri Small Business Development Center business specialists are uniquely qualified to help small businesses get started, develop and thrive.
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