Kansas Business Startup Guides
Start a Business in Salina, Kansas
Are you starting a business in Salina, Kansas? This article discusses the most important things to consider when opening a business in Salina.
Are You Sure You Want to Do This?
An entrepreneurial life is difficult, much harder than working as an employee. Are you sure you have the stamina and skills to succeed on your own?
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Speak with other entrepreneurs in Salina. Ask them candidly what it's like to run a business.
- You should read Business Failure. It's a good read for those who are thinking about becoming an entrepreneur.
- Involve a spouse, family member or trusted friend in the decision. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
Which Business to Choose?
An important decision is what kind of business you want to start. To stir your creative juices on what kind of business to start, take a look at 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 Opening an Advertising Agency guide or our Starting a Mechanical Engravers Business guide.
Remember that Salina is the place where you are starting a business. Some businesses will do better in Salina than others. Study Salina demographics and do a competitive analysis as part of your startup planning process.
Salina, Kansas Demographic Information
Salina has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Salina demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Salina.
As a new Salina entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Salina 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.
Have You Considered Buying an Existing Salina Business?
If you have some capital to play with, you may want to Buy a Business in Kansas. Follow that link and you may find several good businesses for sale in Salina.
Before buying a business, be sure to read this article: Hold Harmless Agreements When Buying Businesses.
Selecting a Name For Your Startup
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.
Company names should be fun to say, and they should help people to understand what you do and how you differentiate yourself in the market.
Numerous company naming issues are discussed in more detail in this article: Branding Advice.
On a final note, given that you are planning on starting a business in Salina, it's critical that you ensure that no other Kansas company is using the business name you want to use.
Company Formation in Salina, Kansas
A critical step is ensuring that you choose the right legal structure for your new entity. The principal advantage of forming your new business as a legal entity is that it separates your business liabilities from your personal liabilities.
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. Just because you are starting a business in Kansas, you don't necessarily have to incorporate in Kansas. In fact, you are allowed to incorporate wherever you want. 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. To learn the fundamentals of company formation, browse articles on our site, such as How to Incorporate. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Salina, Kansas, our information on Incorporating in Kansas may be a useful resource if you decide to incorporate in Kansas.
As an entrepreneur in Salina, you won't be working for the boss anymore. You are the boss.
From this point on, you control your own destiny.
We are here to help Salina businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Salina, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Salina, Kansas
Here are more links that we believe will help you be successful in starting a business in Salina.
- Resources for Salina, Kansas Entrepreneurs - Browse a variety of resources we've collected to assist Salina entrepreneurs.
- Kansas Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Kansas.
- Kansas Small Business Development Center - The KSBDC Network provides Kansas entrepreneurs and small business owners with knowledge, tools and resources to enhance their success. Contact them and they will help you identify your business needs and guide you toward opportunities and solutions.
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