Missouri Business Startup Guides

Opening a Business in Salem, Missouri

Contemplating starting a business in Salem, Missouri? We walk you through the process of opening a business in Salem.

Are You Ready for the Challenges of Being an Entrepreneur?

Most new companies fail, in part because the founder did not have the perseverance and abilities that are necessary to succeed. So, before you start your business, consider all of the implications of being an entrepreneur.

Here are three things we recommend you do before you fully commit to starting a new business of your own.

  • Reach out to other entrepreneurs in Salem. Listen closely to their experiences and see if you think you too can be successful.
  • Peruse Why Small Businesses Fail. This is one of our more popular articles for folks who want to go into business for themselves.
  • Get feedback from somebody whom you trust. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.

What Type of Business Should You Start?

Choosing a business that is right for you is very important. If you are struggling with what type of business to start, read Evaluating Your Idea.

To view an extensive list of business types, complete with startup instructions, spend some time in the Good Businesses to Start section of our site. For example, you might be interested in our How to Start a Data Processing Equipment & Supplies Business guide or our How to Start a Carburetors Retail Business guide.

Always keep in mind that you are starting a business in Salem. Some businesses will do better in Salem than others. Only by spending some time analyzing Salem demographics can you decide if there will be strong demand for your business idea.

Salem, Missouri Demographic Information

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

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

Business Size
# of
Businesses
1-4 Employees
14388
5-9 Employees
4620
10-19 Employees
2112
20-49 Employees
858
50-99 Employees
462
100-249 Employees
198
250-499 Employees
66
500-999 Employees
0
1000+ Employees
0
All Salem Businesses
22704

As a new Salem entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Salem 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
Ambulance Services
1
Amusement Arcades
1
Automotive Parts and Accessories Stores
2
Beer, Wine, and Liquor Stores
2
Bowling Centers
1
Business Associations
1
Car Washes
2
Child and Youth Services
1
Child Day Care Services
3
Civic and Social Organizations
2
Confectionery Merchant Wholesalers
1
Convenience Stores
1
Custom Computer Programming Services
1
Cut Stock, Resawing Lumber, and Planing
1
Direct Life Insurance Carriers
1
Document Preparation Services
2
Electric Power Distribution
2
Elementary and Secondary Schools
1
Exterminating and Pest Control Services
1
Fertilizer (Mixing Only) Manufacturing
1
Finish Carpentry Contractors
3
Floor Covering Stores
1
Flooring Contractors
2
Florists
2
Funeral Homes and Funeral Services
1
Furniture Stores
1
General Automotive Repair
4
General Freight Trucking, Local
1
General Medical and Surgical Hospitals
1
Glass and Glazing Contractors
1
Golf Courses and Country Clubs
1
Gum and Wood Chemical Manufacturing
2
Home Health Care Services
4
Household Appliance Stores
3
Insurance Agencies and Brokerages
6
Janitorial Services
1
Landscaping Services
1
Lessors of Other Real Estate Property
1
Livestock Merchant Wholesalers
1
Local Messengers and Local Delivery
3
Mail-Order Houses
2
Manufactured (Mobile) Home Dealers
1
Masonry Contractors
2
Motion Picture and Video Production
1
New Car Dealers
1
Newspaper Publishers
1
Nonresidential Property Managers
1
Nursing Care Facilities
3
Office Administrative Services
1
Offices of Bank Holding Companies
1
Offices of Certified Public Accountants
2
Offices of Chiropractors
1
Offices of Lawyers
2
Offices of Optometrists
2
Periodical Publishers
1
Pet Care (except Veterinary) Services
1
Pharmacies and Drug Stores
2
Photography Studios, Portrait
1
Political Organizations
1
Ready-Mix Concrete Manufacturing
1
Recreational Goods Rental
6
Residential Property Managers
1
Residential Remodelers
3
Roofing Contractors
2
Savings Institutions
2
Sawmills
4
Siding Contractors
2
Site Preparation Contractors
2
Snack and Nonalcoholic Beverage Bars
1
Solid Waste Collection
1
Temporary Shelters
1
Timber Tract Operations
1
Tire Dealers
4
Tobacco Stores
1
Used Car Dealers
5
Used Merchandise Stores
1
Veterinary Services
1
Video Tape and Disc Rental
3
Vocational Rehabilitation Services
1
Warehouse Clubs and Supercenters
1
Wood Container and Pallet Manufacturing
1

Forming a Company in Salem, Missouri

It's essential 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 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 Missouri, it doesn't mean you are required to incorporate in Missouri. As it turns out, you are allowed to 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 Subchapter S Corporations. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Salem, Missouri, our information on Incorporating in Missouri may be a useful resource if you decide to incorporate in Missouri.

Letting the World Know You Exist

Whether your goal is to attract Salem customers or you plan on selling elsewhere, having an excellent marketing plan is fundamental to your succeeding.

We have some great resources on this site for entrepreneurs who are working on marketing plans. Advertising in the Yellow Pages discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. That's just a taste of the many useful articles we have on Marketing a Small Business.

Improving Your Entrepreneurial Skillset

The best entrepreneurs recognize that they don't know everything.

Given that you are starting a business in Salem, Missouri, you will want to take advantage of the many programs available at nearby Missouri universities, colleges and community colleges. It's also smart to see if there are any Salem networking organizations.

Never Give Up

Most new Salem businesses underestimate the number of challenges they will face.

From this point on, you control your own destiny.

We are here to help Salem businesses to be successful. 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 Salem, Missouri

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

Starting-a-Business Guides for Other Cities in Missouri

Starting a Business in Sainte Genevieve
Starting a Business in Salisbury

Browse All Business Startup Guides for Missouri
Starting a Business Guides for Other States

 

 

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