Oklahoma Business Startup Guides
Starting a Business in Seminole, Oklahoma
Thinking about starting a business in Seminole, Oklahoma? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Seminole.
Are You Ready for the Challenges of Being an Entrepreneur?
Most new businesses fail, in part because the founder did not have the perseverance and abilities that are necessary to succeed. So, before jumping into the world of entrepreneurship, consider all of the implications of being an entrepreneur.
To determine whether you have what it takes to run a business, we recommend these three steps to help you decide:
- Speak with other entrepreneurs in Seminole. Listen closely to their experiences and see if you think you too can be successful.
- You should read Starting a Company. It's a good read for those who are thinking about becoming an entrepreneur.
- Talk it over with a close friend or partner. 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.
Seminole, Oklahoma Demographic Information
Seminole has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Seminole demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Seminole.
As a new Seminole entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Seminole 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.
Company Formation in Seminole, Oklahoma
It's essential that your business is formed as a legal entity that is separate from its owners. Doing so will insulate you from personal liability for business debts and obligations.
The entity you form can be a corporation, LLC, sole proprietorship, partnership or other structure.
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 Oklahoma, it doesn't mean you are required to incorporate in Oklahoma. As it turns out, you are allowed to incorporate in the state of your choosing. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.
There's a lot to know about forming a company. To learn the fundamentals of company formation, browse articles on our site, such as Dissolving a Corporation. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Seminole, Oklahoma, our information on Incorporating in Oklahoma may be a useful resource if you decide to incorporate in Oklahoma.
Make Sure You Have a Business Plan
Having a business plan is vital in laying a solid foundation for your business success. Simply put, your business plan is your game plan for how you hope to grow your business. Starting a business without a business plan makes you more prone to becoming a business failure statistic.
If writing a business plan is on your to-do list, be sure to read Business Plan Contests. A great resource for business planning assistance is the free counseling sessions provided by your local SCORE chapter in Oklahoma.
Raising Money for Your New Venture
Getting your Seminole business the capital it needs to succeed is a difficult chore. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.
To learn about raising money, we recommend you read the fundraising articles on our site, such as How to Raise Money.
Increase Your Entrepreneurial Knowledge
The best entrepreneurs know that they don't know everything.
With your business being located in Seminole, Oklahoma, you will want to take advantage of the many programs available at nearby Oklahoma universities, colleges and community colleges. It's also worthwhile to see if there are any Seminole networking organizations.
Never Give Up
Most new Seminole businesses underestimate the number of challenges they will face.
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 Seminole and throughout the United States . 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 Seminole, Oklahoma
Here are more links that we believe will help you be successful in starting a business in Seminole.
- Resources for Seminole, Oklahoma Entrepreneurs - Browse a variety of resources we've collected to assist Seminole 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.
Starting-a-Business Guides for Other Cities in Oklahoma
Share this article
Additional Resources for Entrepreneurs