South Dakota Business Startup Guides
Start a Business in Platte, South Dakota
Are you starting a business in Platte, South Dakota? This article discusses the most important things to consider when opening a business in Platte.
Platte, South Dakota Demographic Information
Platte has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Platte demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Platte.
As a new Platte entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Platte 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.
What About Franchising Opportunities?
Visit the business district of Platte and you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you?
Our advice is to consider franchising as an option. On our site, you can read many articles about franchising, such as Franchisees Versus Licensees. Become a franchising expert of sorts by reading more of our Articles on Franchising.
You can review hundreds of franchise opportunities by browing our Franchise Directory.
Note on Platte Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Platte.
What About Buying an Existing Platte Business?
If you have some capital to play with, you may want to Buy a Business in South Dakota. Follow that link and you may find several good businesses for sale in Platte.
Before buying a business, be sure to read this article: Buying a Business.
Company Formation in Platte, South Dakota
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.
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. 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. Just because you are starting a business in South Dakota, you don't necessarily have to incorporate in South Dakota. As it turns out, 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's a lot to know about forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Piercing the Corporate Veil. You may also want to seek the advice of an lawyer. On a final note, since you will be starting a business in Platte, South Dakota, our web page covering Incorporating in South Dakota may be a useful resource if you decide to incorporate in South Dakota.
The Art of Selling
Being able to sell is critical to your business success. Whether you are focused on selling local customers in Platte or are selling to customers throughout South Dakota, the United States or even the world, you have to be able to sell.
Not knowing how to sell can result in lost customers and minimal market share. Fortunately, we've got plenty of good advice to help you improve your selling skills.
Increase Your Entrepreneurial Knowledge
Successful business owners know that they need to continually improve.
With your business being located in Platte, South Dakota, you should check out some of the many programs available at nearby South Dakota universities, colleges and community colleges. Another way to keep up on your learning is to investigate networking groups or organizations in which Platte entrepreneurs get together to network and trade their business experiences.
You have a dream -- starting a business in Platte. To achieve your dream, you have to persevere, even when the odds are against you.
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 Platte 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 Platte, South Dakota
Here are more links that we believe will help you be successful in starting a business in Platte.
- Resources for Platte, South Dakota Entrepreneurs - Browse a variety of resources we've collected to assist Platte entrepreneurs.
- South Dakota Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in South Dakota.
- South Dakota Small Business Development Center - The South Dakota Small Business Development Center (SBDC) helps new South Dakota entrepreneurs realize their dream of business ownership and assists existing businesses in their efforts to remain competitive.
More Startup Articles for South Dakota Cities
Share this article
Additional Resources for Entrepreneurs