Mississippi Business Startup Guides
Open a Business in Louisville, Mississippi
Need help starting a business in Louisville, Mississippi? We've got the information you need to open a business in Louisville.
Is Becoming an Entrepreneur Right for You?
Most new businesses do not succeed, in part because the entrepreneur did not have the tenacity and/or the skills to succeed. So, before you start your business, consider all of the implications of being an entrepreneur.
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Grab a meal or cofee with other entrepreneurs in Louisville. Get their take on what it's really like to be an entrepreneur.
- Take a look at The Entrepreneurial Personality. It's a short article but it's a good reality check for those are about to jump into the world of entrepreneurship.
- Reach out to a trusted acquaintance. That's the best way to get a truly objective assessment as to whether others think you have what it takes.
What Business to Start
There are many businesses that you can start. How do you know which type of business is right for you? We recommend that you read Good 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 Nanny Referral Service guide or our How to Start a Home Improvement Referral & Information Services Business guide.
Remember that your new startup will be located in Louisville. If Louisville already has plenty of the kind of business you want to start, you might want to change your plans. Study Louisville demographics and do a competitive analysis as part of your startup planning process.
Louisville, Mississippi Demographic Information
Louisville has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Louisville demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Louisville.
Businesses
As a new Louisville entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Louisville 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
Is Franchising a Better Option?
Browse the Yellow Pages for Louisville and you may be surprised to see how many franchises there are in the area. Evidently, there must be some significant advantages to purchasing a franchise.
We highly recommend you investigate buying a franchise. We have many articles on franchises, such as Costs of Franchise Ownership. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Representative franchise opportunities include Schlotzsky's Deli and Hydro Physics Pipe Inspection. Alternatively, you can browse franchise categories, such as Wine Franchises and Framing Store Franchises.
Note on Louisville Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Louisville.
Forming a Company in Louisville, Mississippi
It's very important that your business is formed as a legal entity that is separate from its owners. Doing so will protect 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. 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 Mississippi, you don't necessarily have to incorporate in Mississippi. 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 are many nuances to forming a company. To learn the fundamentals of company formation, browse articles on our site, such as Getting an EIN. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Louisville, Mississippi, our information on Incorporating in Mississippi may be a useful resource if you decide to incorporate in Mississippi.
Don't Forget to Create a Business Plan
Writing a business plan is essential to the health of your new business. Simply put, your business plan is your game plan for how you hope to grow your business. Not having a business plan will greatly reduce your chances of business success.
If you want more information on writing business plans, we recommend reading Business Plan Contests. A great resource for business planning assistance is the free counseling sessions provided by your local SCORE chapter in Mississippi.
Bring in Revenues
Mastering the art of selling is essential if you want your new Louisville business to do well.
Good selling involves demonstrating that your wares meet your customer's needs. Let us help you refine your selling techniques through our many useful sales advice tips.
Sales Training 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.
Moving Forward
Most new Louisville businesses underestimate the number of challenges they will face.
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 Louisville and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Louisville 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 Louisville, Mississippi
Here are more links that we believe will help you be successful in starting a business in Louisville.
- Resources for Louisville, Mississippi Entrepreneurs - Browse a variety of resources we've collected to assist Louisville entrepreneurs.
- Mississippi Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Mississippi.
- Mississippi Small Business Development Center - The Mississippi Small Business Development Centers (MSBDC) is dedicated to helping build and grow businesses in Mississippi. For new entrepreneurs, this is an excellent resource.
More Business Startup Guides for Mississippi
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