Kentucky Business Startup Guides
Open a Business in Sturgis, Kentucky
Need help starting a business in Sturgis, Kentucky? We've got the information you need to open a business in Sturgis.
Sturgis, Kentucky Demographic Information
Sturgis has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Sturgis demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Sturgis.
As a new Sturgis entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Sturgis 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.
Is Franchising a Better Option?
Visit the business district of Sturgis and it becomes clear that purchasing a franchise is a common way to get started as an entrepreneur. Is franchising maybe a better way for you to start your business?
We highly recommend you consider franchising as an option. We have many articles on franchises, such as How to Get More Franchisees. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
You can review hundreds of franchise opportunities by browing our Franchise Directory.
Sample franchise opportunities include Blind Brokers Network and Luxury Franchise Corporation. Alternatively, you can browse franchise categories, such as Children's Fitness Franchises and Party Supply Franchises.
Note on Sturgis Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Sturgis.
Naming the Company
A big decision when starting a company is choosing a company name. Believe it or not, choosing a good company name can be a big contributor to your business success.
Company names need to be easy to spell, easy to pronounce, and easy to remember.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Business.
As a final piece of advice, remember that because you are opening a business in Sturgis, it's imperative that you check now that no other Kentucky company is using the business name you want to use.
Forming a Company in Sturgis, Kentucky
It's essential that you form your business as a legal structure. Doing so will shield 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. 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. If you are starting a business in Kentucky, you don't necessarily have to incorporate in Kentucky. As it turns out, you can 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 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 Registered Agents. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Sturgis, Kentucky, our information on Incorporating in Kentucky may be a useful resource if you decide to incorporate in Kentucky.
Startup Financing Basics
Getting your Sturgis business the capital it needs to succeed is a difficult chore. In fact, financing your new business may be the hardest challenge you ever face.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Borrowing Money from Friends and Family.
How to Improve Your Entrepreneurial Abilities
The best entrepreneurs recognize that what they know now may not be enough to ensure their future success.
With your business being located in Sturgis, Kentucky, you will want to take advantage of the many programs available at nearby Kentucky universities, colleges and community colleges. It's also beneficial to see if there are any Sturgis networking organizations.
Most new Sturgis businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Sturgis and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Sturgis, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Sturgis, Kentucky
Here are more links that we believe will help you be successful in starting a business in Sturgis.
- Resources for Sturgis, Kentucky Entrepreneurs - Browse a variety of resources we've collected to assist Sturgis 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.
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