Kentucky Business Startup Guides
Opening a Business in Springfield, Kentucky
Contemplating starting a business in Springfield, Kentucky? We walk you through the process of opening a business in Springfield.
Which Business to Choose?
An important decision is what kind of business you want to start. If you are struggling with what type of business to start, 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 Starting a Child Support Collection & Enforcement Business guide or our Starting a Fluorescent Lighting Business guide.
Remember that your new business will be in Springfield. If Springfield already has plenty of the kind of business you want to start, you might want to change your plans. Study Springfield demographics and do a competitive analysis as part of your startup planning process.
Springfield, Kentucky Demographic Information
Springfield has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Springfield demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Springfield.
As a new Springfield entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Springfield 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 Springfield Business?
If you have some capital to play with, you may want to Buy a Business in Kentucky. Follow that link and you can review several good businesses for sale in Springfield.
If you are going to be buying a business, you may want to read this article: Buying a Business.
Company Formation in Springfield, Kentucky
It's essential that your business is formed as a legal entity that is separate from its owners. Among other things, forming a legal entity for the business limits your 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 Kentucky, you don't necessarily have to incorporate in Kentucky. 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. 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 should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Springfield, Kentucky, our information on Incorporating in Kentucky may be a useful resource if you decide to incorporate in Kentucky.
Marketing Your New Company
Whether your goal is to attract Springfield customers or you plan on selling elsewhere, you need a great marketing plan.
We have some helpful resources on this site for entrepreneurs who are working on marketing plans. Working with an Advertising Agency is an article that will stimulate a few thoughts on your marketing plan. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.
The Art of Selling
Do you know how to sell? In order to attract customers to your new Springfield business, you need to focus on sales.
Good selling involves demonstrating that your wares meet your customer's needs. Let us help you refine your selling techniques through our many useful sales advice tips.
As an entrepreneur in Springfield, you won't be working for the boss anymore. You are the boss.
From this point on, you control your own destiny.
Our goal here is to promote the vitality and growth of small businesses in Springfield and throughout the United States . We want to be there for you to answer your business questions, whether you are a new Springfield 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 Springfield, Kentucky
Here are more links that we believe will help you be successful in starting a business in Springfield.
- Resources for Springfield, Kentucky Entrepreneurs - Browse a variety of resources we've collected to assist Springfield entrepreneurs.
- Kentucky Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Kentucky.
- Kentucky Small Business Development Center - The Kentucky Small Business Development Center (KSBDC) has been assisting Kentucky small business community for more than 25 years. KSBDC is co-sponsored by the U.S. Small Business Administration and is administered by the University of Kentucky in partnership with regional universities, community and private colleges, and the private sector.
Starting-a-Business Guides for Other Cities in Kentucky
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