January 24, 2021  
 
  Entrepreneurial Resources - Advice for Washington Entrepreneurs  
  Liberty Lake, Washington Resources for Entrepreneurs  
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Start a Business in Liberty Lake, Washington

Are you starting a business in Liberty Lake, Washington? This article discusses the most important things to consider when opening a business in Liberty Lake.

Do You Have What It Takes?

Being an entrepreneur is demanding, and can be orders of magnitude more strenuous than working as an employee. Are you positive you want to start a business?

Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:

  • Speak with other entrepreneurs in Liberty Lake. Get their candid feedback on what it takes to start a successful business.
  • You should read Starting a Company. It's a good read for those who are thinking about becoming an entrepreneur.
  • Talk it over with a close friend or partner. 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.

Liberty Lake, Washington Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 375
5-9 Employees 90
10-19 Employees 75
20-49 Employees 42
50-99 Employees 27
100-249 Employees 15
250-499 Employees 9
500-999 Employees 6
1000+ Employees 0
All Liberty Lake Businesses 639

As a new Liberty Lake entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Liberty Lake 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
Automotive Parts and Accessories Stores 1
Beauty Salons 2
Building Inspection Services 1
Child Day Care Services 2
Computer Systems Design Services 3
Continuing Care Retirement Communities 1
Credit Unions 2
Custom Compounding of Purchased Resins 1
Custom Computer Programming Services 3
Direct Life Insurance Carriers 1
Drafting Services 1
Educational Support Services 1
Electrical Contractors 1
Electronic Computer Manufacturing 1
Employment Placement Agencies 1
Engineering Services 3
Environmental Consulting Services 1
Fine Arts Schools 1
Finish Carpentry Contractors 2
Fitness and Recreational Sports Centers 1
Floor Covering Stores 1
Flooring Contractors 2
Florists 1
Food Service Contractors 3
Framing Contractors 3
Full-Service Restaurants 6
Furniture Stores 1
General Automotive Repair 1
Golf Courses and Country Clubs 2
Grantmaking Foundations 1
Graphic Design Services 1
Insurance Agencies and Brokerages 2
Internet Publishing and Broadcasting 1
Internet Service Providers 1
Investment Advice 1
Land Subdivision 3
Landscaping Services 1
Lessors of Other Real Estate Property 2
Limited-Service Restaurants 7
Marketing Consulting Services 1
Mortgage and Nonmortgage Loan Brokers 1
New Car Dealers 3
New Housing Operative Builders 1
Newspaper Publishers 1
Nonresidential Property Managers 1
Office Supplies and Stationery Stores 1
Offices of Certified Public Accountants 1
Offices of Chiropractors 2
Offices of Dentists 7
Offices of Optometrists 2
Painting and Wall Covering Contractors 2
Periodical Publishers 1
Pharmacies and Drug Stores 1
Private Mail Centers 1
Real Estate Credit 1
Recreational Vehicle Dealers 2
Residential Property Managers 3
Residential Remodelers 2
Roofing Contractors 2
Sales Financing 1
Savings Institutions 1
Securities Brokerage 2
Sheet Metal Work Manufacturing 1
Siding Contractors 1
Site Preparation Contractors 2
Snack and Nonalcoholic Beverage Bars 1
Software Publishers 2
Telephone Apparatus Manufacturing 1
Vending Machine Operators 1
Veterinary Services 1
Video Tape and Disc Rental 1
Vocational Rehabilitation Services 1
Water Supply and Irrigation Systems 1

Have You Considered Buying an Existing Liberty Lake Business?

If you have some capital to play with, you may want to Buy a Business in Washington. Follow that link and you can assess several good businesses for sale in Liberty Lake.

If you are serious about buying a business, you may want to read this article: Hold Harmless Agreements When Buying Businesses.

Where to Get Money to Start a Company

Obtaining startup financing for your Liberty Lake business is very difficult due to the ongoing business credit crunch. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.

To learn about raising money, we recommend you read the fundraising articles on our site, such as Realistic Debt Financing Options.

For Liberty Lake entrepreneurs with great ambition but a shortage of investment capital, check out our List of Washington Angel Investors and our List of Washington Venture Capital Firms.

The Art of Selling

Do you know how to sell? In order to attract customers to your new Liberty Lake business, you need to focus on sales.

So what does it take to bring in more prospects and close more business? Fortunately, we've got plenty of good advice to help you improve your selling skills.

The Art of Customer Referrals is worth reading, as it may give you some good ideas on how to sell your products or services. We have many more good articles on selling that you may enjoy reading.

Learning More About Entrepreneurship

Good business owners know that they don't know everything.

As an entrepreneur who lives in Liberty Lake, Washington, you should get information on some of the many programs available at nearby Washington universities, colleges and community colleges. Another way to keep up on your learning is to investigate networking organizations for Liberty Lake entrepreneurs.

Now It's Up To You

As an entrepreneur in Liberty Lake, you won't be working for the boss anymore. You are the boss.

If you choose the right business and love what you do, you will greatly increase your odds of success.

This site is all about helping entrepreneurs in Liberty Lake and elsewhere to achieve real success. We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.

More Entrepreneurial Resources for Starting a Business in Liberty Lake, Washington

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

 

 

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