Mississippi Business Startup Guides
Opening a Business in West Point, Mississippi
Contemplating starting a business in West Point, Mississippi? We walk you through the process of opening a business in West Point.
Are You Ready for Life as an Owner?
Before announcing to the world that you are going to start your own business, take inventory of your entrepreneurial instincts and capabilities.
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Reach out to other entrepreneurs in West Point. Listen closely to their experiences and see if you think you too can be successful.
- Peruse Characteristics of Successful Entrepreneurs. This is one of our more popular articles for folks who want to go into business for themselves.
- Seek the advice of somebody who knows you well. 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.
West Point, Mississippi Demographic Information
West Point has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for West Point demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in West Point.
As a new West Point entrepreneur, you may also be interested in the table below. It shows how many businesses there are in West Point 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.
Should You Franchise?
As you drive around West Point, you'll notice that many local entrepreneurs have gone the franchising route. So, it probably makes sense for you to consider franchising too.
Our recommendation is that you consider franchising as an option. We have many articles on franchises, such as The Franchising Process. Get a thorough education on franchising by browsing all of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Sample franchise opportunities include American Town Mailer and Advanced Sign Centers. Alternatively, you can browse franchise categories, such as Specialty Foods Franchises and Health and Beauty Franchises.
Note on West Point Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in West Point.
Picking a Company Name
A good company name can give a big boost to a new startup. It might seem like an easy thing to do, but there are many things to consider when naming a business.
Pick a company name that isn't too generic. If you do a search engine search for your proposed name and a billion results come up, you may want to reconsider the name. It's much easier to come up in the search engines when your name is fairly unique.
For other considerations regarding naming a company, we recommend this article: Naming a Company.
As a final piece of advice, remember that because you are opening a business in West Point, it's very important that you make sure no other Mississippi company is using the business name you want to use.
Forming a Company in West Point, Mississippi
A critical step is ensuring that you choose the right legal structure for your new entity. 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 popular way to form a business. 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 Mississippi, you don't necessarily have to incorporate in Mississippi. In fact, you can 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. We recommend you read some of the educational articles about company formation that are availabe on our site, such as ESOP Formation. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in West Point, Mississippi, our information on Incorporating in Mississippi may be a useful resource if you decide to incorporate in Mississippi.
Bring in Revenues
Being able to sell is fundamental to your business success. Whether you are focused on selling local customers in West Point or are selling to customers throughout Mississippi, the United States or even the world, you have to be able to sell.
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.
Never Give Up
You have a dream -- starting a business in West Point. To achieve your dream, you have to persevere, even when the odds are against you.
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 West Point and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in West Point, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in West Point, Mississippi
Here are more links that we believe will help you be successful in starting a business in West Point.
- Resources for West Point, Mississippi Entrepreneurs - Browse a variety of resources we've collected to assist West Point entrepreneurs.
- Mississippi Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Mississippi.
- Mississippi Small Business Development Center - The Mississippi Small Business Development Centers (MSBDC) is dedicated to helping build and grow businesses in Mississippi. For new entrepreneurs, this is an excellent resource.
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