August 1, 2020  
 
  Entrepreneurial Resources - Advice for Oklahoma Entrepreneurs  
  Seminole, Oklahoma Resources for Entrepreneurs  
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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.

Business Size# of
Businesses
1-4 Employees 1491
5-9 Employees 648
10-19 Employees 288
20-49 Employees 198
50-99 Employees 72
100-249 Employees 27
250-499 Employees 18
500-999 Employees 0
1000+ Employees 0
All Seminole Businesses 2742

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.

Business Type # of
Businesses
Animal (except Poultry) Slaughtering 1
Art Dealers 1
Automotive Glass Replacement Shops 1
Automotive Parts and Accessories Stores 4
Baked Goods Stores 2
Beauty Salons 1
Beer, Wine, and Liquor Stores 1
Business Associations 1
Cable and Other Program Distribution 1
Carpet and Upholstery Cleaning Services 1
Child and Youth Services 1
Child Day Care Services 4
Civic and Social Organizations 1
Coin-Operated Laundries and Drycleaners 1
Community Food Services 1
Consumer Lending 5
Curtain and Drapery Mills 1
Dental Laboratories 1
Discount Department Stores 1
Drilling Oil and Gas Wells 8
Drinking Places (Alcoholic Beverages) 1
Drywall and Insulation Contractors 1
Electric Power Distribution 1
Electrical Contractors 5
Engineering Services 2
Family Clothing Stores 2
Floor Covering Stores 1
Florists 2
Food (Health) Supplement Stores 1
Food Service Contractors 1
Fossil Fuel Electric Power Generation 1
Full-Service Restaurants 7
Funeral Homes and Funeral Services 1
General Automotive Repair 2
General Medical and Surgical Hospitals 1
General Warehousing and Storage 1
Gift, Novelty, and Souvenir Stores 1
Golf Courses and Country Clubs 1
Grantmaking Foundations 1
Home Centers 1
Home Health Care Services 3
Home Health Equipment Rental 1
Insurance Agencies and Brokerages 7
Janitorial Services 1
Jewelry Stores 1
Limited-Service Restaurants 9
Machine Shops 2
Mail-Order Houses 1
Meat Markets 1
Miscellaneous Intermediation 1
Motion Picture and Video Production 1
Motor Vehicle Towing 2
Museums 2
New Car Dealers 1
Newspaper Publishers 1
Nonresidential Property Managers 1
Nursing Care Facilities 3
Office Administrative Services 2
Offices of Certified Public Accountants 3
Offices of Chiropractors 2
Offices of Dentists 2
Offices of Lawyers 7
Offices of Optometrists 1
Offices of Real Estate Appraisers 1
Paint and Coating Manufacturing 1
Paint and Wallpaper Stores 1
Petroleum Bulk Stations and Terminals 1
Pharmacies and Drug Stores 3
Pipeline Transportation of Crude Oil 1
Pipeline Transportation of Natural Gas 1
Ready-Mix Concrete Manufacturing 1
Real Estate Credit 1
Roofing Contractors 3
Savings Institutions 1
Securities Brokerage 1
Sheet Metal Work Manufacturing 1
Site Preparation Contractors 2
Snack and Nonalcoholic Beverage Bars 2
Tax Preparation Services 2
Tire Dealers 1
Used Car Dealers 2
Used Merchandise Stores 2
Veterinary Services 2
Video Tape and Disc Rental 2
Wired Telecommunications Carriers 3

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.

For Seminole entrepreneurs on the hunt for startup funding, we have assembled a List of Oklahoma Angel Investors and our List of Oklahoma Venture Capital Firms.

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.

 

 

Additional Resources for Entrepreneurs

Buying a Business

Writing a Business Plan

Raising Money

Incorporate

Small Business Marketing

Advertising Advice

Public Relations -

Customer Service Tips

Entrepreneurial Selling

Workplace Safety