Oklahoma Business Startup Guides
Start a Business in Ponca City, Oklahoma
Are you starting a business in Ponca City, Oklahoma? This article discusses the most important things to consider when opening a business in Ponca City.
Choosing the Right Company to Start
Choosing a business that is right for you is very important. To help you decide on a business type, we encourage you to read Business Ideas That Don't Make Sense.
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 Gas Pipes Business guide or our How to Start a Pet Clothing & Accessories Retail Business guide.
Don't forget that starting a business in Ponca City has some implications. Some businesses will do better in Ponca City than others. Study Ponca City demographics and do a competitive analysis as part of your startup planning process.
Ponca City, Oklahoma Demographic Information
Ponca City has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Ponca City demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Ponca City.
As a new Ponca City entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Ponca City 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.
Selecting a Name For Your Business
Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset.
Companies like Starbucks, Apple, Target, Microsoft and Intuit all have strong company names that are easy to remember and have become well-loved brands. Wouldn't it be nice if your new company name got on a similar track?
Numerous company naming issues are discussed in more detail in this article: Naming a Business.
On a final note, given that you are planning on starting a business in Ponca City, it's critical that you ensure that your company name has not already been claimed by another Oklahoma business.
Company Formation in Ponca City, Oklahoma
It's very important that you form your business as a legal structure. Without a legal structure for the business, you can be held personally liable for the actions, debts and obligations of your company.
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. Just because you are starting a business in Oklahoma, you don't necessarily have to incorporate in Oklahoma. 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'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 attorney. On a final note, since you will be starting a business in Ponca City, Oklahoma, our web page covering Incorporating in Oklahoma may be a useful resource if you decide to incorporate in Oklahoma.
Don't Forget to Create a Business Plan
Creating a business plan is critical in maximizing the prospects of your new company. Simply put, your business plan is your game plan for how you hope to grow your business. Failure to write a business plan
If writing a business plan is on your to-do list, be sure to read Expert Advice on Business Plans. You should also take advantage of face-to-face free consulting available from your local SCORE chapter in Oklahoma.
Raising Money for Your New Venture
Raising money to fund your new Ponca City business is very difficult due to the ongoing business credit crunch. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.
To learn about raising money, we recommend you read the fundraising articles on our site, such as Getting a Small Business Loan.
As an entrepreneur in Ponca City, 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.
We are here to help Ponca City businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Ponca City 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 Ponca City, Oklahoma
Here are more links that we believe will help you be successful in starting a business in Ponca City.
- Resources for Ponca City, Oklahoma Entrepreneurs - Browse a variety of resources we've collected to assist Ponca City entrepreneurs.
- Oklahoma Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Oklahoma.
- Oklahoma Small Business Development Center - Whether you are in business or thinking about it, the Oklahoma Small Business Development Center staff can assist you. Their goal is to help Oklahoma entrepreneurs like you be more successful.
More Business Startup Guides for Oklahoma
Share this article
Additional Resources for Entrepreneurs