South Dakota Business Startup Guides

Opening a Business in Parkston, South Dakota

Contemplating starting a business in Parkston, South Dakota? We walk you through the process of opening a business in Parkston.

Are You Sure You Want to Do This?

Being an entrepreneur is difficult, much harder than working as an employee. Are you sure you are ready to take on this challenge?

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:

  • Talk to other entrepreneurs in Parkston. Ask them candidly what it's like to run a business.
  • We recommend reading Should You Become an Entrepreneur?. For aspiring new entrepreneurs, it's a must read article.
  • Have a candid conversation with friends and family. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.

Parkston, South Dakota Demographic Information

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

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

Business Size
# of
1-4 Employees
5-9 Employees
10-19 Employees
20-49 Employees
50-99 Employees
100-249 Employees
250-499 Employees
500-999 Employees
1000+ Employees
All Parkston Businesses

As a new Parkston entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Parkston 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
Ambulance Services
Automotive Parts and Accessories Stores
Beer, Wine, and Liquor Stores
Drinking Places (Alcoholic Beverages)
Electric Power Distribution
Electrical Contractors
Finish Carpentry Contractors
Fitness and Recreational Sports Centers
Full-Service Restaurants
General Automotive Repair
General Medical and Surgical Hospitals
Glass and Glazing Contractors
Golf Courses and Country Clubs
Hardware Stores
Household Appliance Stores
Insurance Agencies and Brokerages
Limited-Service Restaurants
Livestock Merchant Wholesalers
Newspaper Publishers
Offices of Certified Public Accountants
Offices of Chiropractors
Offices of Lawyers
Offices of Optometrists
Pharmacies and Drug Stores
Ready-Mix Concrete Manufacturing
School and Employee Bus Transportation
Solid Waste Collection

Forming a Company in Parkston, South Dakota

It's very important that you form your business as a legal structure. Among other things, forming a legal entity for the business limits your liabilities.

When forming a company, you will pick from many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.

Incorporating is a very common way to legally create a business entity. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in South Dakota, you don't necessarily have to incorporate in South Dakota. In fact, you can 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 Dissolving a Corporation. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Parkston, South Dakota, our web page covering Incorporating in South Dakota may be a useful resource if you decide to incorporate in South Dakota.

Don't Forget to Create a Business Plan

Creating a business plan is vital in laying a solid foundation for your business success. Simply put, a business plan is a written description of the future you envision for your business. Failure to write a business plan

To learn more about business plans, read Business Plan Mistakes. You should also take advantage of free counseling sessions provided by your local SCORE chapter in South Dakota.

Startup Financing Basics

Raising money to fund your new Parkston 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.

Take advantage of our many articles on finding startup capital, such as Attracting Investors.

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

Marketing Your New Venture

Whether your goal is to attract Parkston customers or you plan on selling elsewhere, you need a great marketing plan.

There are myriad resources on this site to help you with your marketing plan. Advertising on Google is an article that will stimulate a few thoughts on your marketing plan. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.

Next Steps

As an entrepreneur in Parkston, 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.

Our goal here is to promote the vitality and growth of small businesses in Parkston and throughout the United States . We want to be there for you to answer your business questions, whether you are a new Parkston 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 Parkston, South Dakota

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

Starting-a-Business Guides for Other Cities in South Dakota

Starting a Business in Parker
Starting a Business in Philip

Browse All Business Startup Guides for South Dakota
Starting a Business Guides for Other States



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