Illinois Business Startup Guides

Starting a Business in Taylorville, Illinois

Thinking about starting a business in Taylorville, Illinois? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Taylorville.

Will You Be a Good Entrepreneur?

Most new companies don't make it, in part because the entrepreneur did not have the perseverance and abilities that are necessary to succeed. So, before you start your business, consider all of the implications of being an entrepreneur.

While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:

  • Speak with other entrepreneurs in Taylorville. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
  • 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. Others sometimes know you better than you know yourself.

Choosing the Right Company to Start

Choosing a business that is right for you is very important. We recommend that you read How to Evaluate a Business Idea.

For step-by-step instructions on starting a variety of business types, visit the Good Businesses to Start section of our site. For example, you might be interested in our Opening a Network Consulting Business guide or our How to Start a Beer Line Cleaning & Repair Business guide.

Always keep in mind that your new startup will be located in Taylorville. Some businesses will do better in Taylorville than others. A critical consideration is whether Taylorville demographics mesh well with your startup concept.

Taylorville, Illinois Demographic Information

Taylorville has an active business community that includes small businesses, mid-sized businesses and large businesses.

To give you a better feel for Taylorville demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Taylorville.

Business Size
# of
Businesses
1-4 Employees
698
5-9 Employees
258
10-19 Employees
186
20-49 Employees
84
50-99 Employees
39
100-249 Employees
15
250-499 Employees
6
500-999 Employees
0
1000+ Employees
3
All Taylorville Businesses
1289

As a new Taylorville entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Taylorville 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
Advertising Agencies
2
Ambulance Services
2
Appliance Repair and Maintenance
1
Automotive Glass Replacement Shops
1
Automotive Parts and Accessories Stores
6
Baked Goods Stores
1
Beauty Salons
4
Beer and Ale Merchant Wholesalers
1
Beer, Wine, and Liquor Stores
1
Bowling Centers
2
Cable and Other Program Distribution
1
Cafeterias
1
Car Washes
8
Carpet and Upholstery Cleaning Services
1
Charter Bus Industry
1
Child Day Care Services
1
Civic and Social Organizations
7
Collection Agencies
1
Community Food Services
1
Consumer Lending
5
Convention and Trade Show Organizers
1
Credit Unions
2
Custom Computer Programming Services
2
Direct Title Insurance Carriers
1
Electrical Contractors
4
Engineering Services
1
Environmental Consulting Services
1
Exterminating and Pest Control Services
1
Family Clothing Stores
1
Farm Management Services
1
Fine Arts Schools
2
Fitness and Recreational Sports Centers
2
Floor Covering Stores
2
Florists
2
Food Service Contractors
3
Framing Contractors
1
Freight Transportation Arrangement
1
Full-Service Restaurants
11
Furniture Stores
3
General Automotive Repair
4
General Freight Trucking, Local
1
General Medical and Surgical Hospitals
1
Gift, Novelty, and Souvenir Stores
2
Glass and Glazing Contractors
1
Golf Courses and Country Clubs
1
Hardware Stores
1
Home Centers
1
Household Appliance Stores
2
Insurance Agencies and Brokerages
15
Investment Advice
1
Janitorial Services
3
Jewelry Stores
3
Landscaping Services
4
Lessors of Other Real Estate Property
1
Limited-Service Restaurants
17
Machine Shops
1
Marketing Consulting Services
1
Masonry Contractors
1
New Car Dealers
5
Nursing Care Facilities
2
Office Supplies and Stationery Stores
1
Offices of Certified Public Accountants
7
Offices of Chiropractors
4
Offices of Dentists
7
Offices of Lawyers
11
Offices of Optometrists
3
Offices of Real Estate Appraisers
1
Packaging and Labeling Services
1
Paint and Wallpaper Stores
1
Painting and Wall Covering Contractors
1
Paper (except Newsprint) Mills
1
Pharmacies and Drug Stores
4
Photography Studios, Portrait
2
Quick Printing
1
Radio Stations
2
Real Estate Credit
1
Reinsurance Carriers
1
Residential Remodelers
3
Reupholstery and Furniture Repair
1
Roofing Contractors
1
Securities Brokerage
5
Sewage Treatment Facilities
1
Sheet Metal Work Manufacturing
1
Shoe Stores
1
Site Preparation Contractors
4
Snack and Nonalcoholic Beverage Bars
2
Solid Waste Collection
1
Tax Preparation Services
4
Taxi Service
1
Telecommunications Resellers
1
Tire Dealers
1
Title Abstract and Settlement Offices
1
Tobacco Stores
2
Travel Agencies
1
Video Tape and Disc Rental
2
Warehouse Clubs and Supercenters
1
Wholesale Trade Agents and Brokers
1
Wired Telecommunications Carriers
5
Women's Clothing Stores
1
Wood Container and Pallet Manufacturing
1

Forming a Company in Taylorville, Illinois

A critical step is ensuring that you are forming a legal entity that operates independently from you. Doing so will insulate 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.

Incorporation is a very popular way to form a business. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Illinois, you don't necessarily have to incorporate in Illinois. As it turns out, you are allowed to incorporate in any state you would like to. 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. To learn the fundamentals of company formation, browse articles on our site, such as Offshore Company Formation. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Taylorville, Illinois, our information on Incorporating in Illinois may be a useful resource if you decide to incorporate in Illinois.

Do You Need a Business Plan?

Writing a business plan is essential 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. Failure to write a business plan will greatly reduce your chances of business success.

If writing a business plan is on your to-do list, be sure to read Business Presentations. A great resource for business planning assistance is the face-to-face free consulting available from your local SCORE chapter in Illinois.

Raising Capital for Your Venture

Getting your Taylorville business the capital it needs to succeed requires strong organization skills and perseverance. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.

To learn about raising money, we recommend you read the fundraising articles on our site, such as Getting a Small Business Loan.

For Taylorville entrepreneurs on the hunt for startup funding, you'll want to take a look at our List of Illinois Angel Investors and our List of Illinois Venture Capital Firms.

How to Sell

Mastering the art of selling is priority one if you want your new Taylorville business to do well.

Why should customers buy from you instead of buying from competitors? Fortunately, we've got plenty of good advice to help you improve your selling skills.

Good Sales Strategies is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.

What's Next?

Most new Taylorville businesses underestimate the number of challenges they will face.

Owning your own business will be a daunting task, but you can do it.

We are here to help Taylorville businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Taylorville 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 Taylorville, Illinois

Here are more links that we believe will help you be successful in starting a business in Taylorville.

Starting-a-Business Guides for Other Cities in Illinois

Starting a Business in Sycamore
Starting a Business in Teutopolis

Browse All Business Startup Guides for Illinois
Starting a Business Guides for Other States

 

 

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