Wisconsin Business Startup Guides
Starting a Business in Baldwin, Wisconsin
Thinking about starting a business in Baldwin, Wisconsin? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Baldwin.
Will You Be a Good Entrepreneur?
Most new companies do not succeed, in part because the entrepreneur did not have the tenacity and/or the skills to succeed. So, before you open a business, consider all of the implications of being an entrepreneur.
Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:
- Grab a meal or cofee with other entrepreneurs in Baldwin. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
- Take a look at Business Failure. It's a short article but it's a good reality check for those are about to jump into the world of entrepreneurship.
- Involve a spouse, family member or trusted friend in the decision. Others sometimes know you better than you know yourself.
Baldwin, Wisconsin Demographic Information
Baldwin has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Baldwin demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Baldwin.
Businesses
As a new Baldwin entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Baldwin 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.
Businesses
Company Formation in Baldwin, Wisconsin
A critical step is ensuring 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. 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 Wisconsin, it doesn't mean you are required to incorporate in Wisconsin. 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'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 should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Baldwin, Wisconsin, our information on Incorporating in Wisconsin may be a useful resource if you decide to incorporate in Wisconsin.
The Role of the Business Plan
Having a business plan is essential in laying a solid foundation for your business success. Indeed, your business plan is your game plan for how you hope to grow your business. Not having a business plan makes you more prone to becoming a business failure statistic.
To learn more about business plans, read Reasons to Write a Business Plan. A great resource for business planning assistance is the face-to-face free consulting available from your local SCORE chapter in Wisconsin.
Getting Money to Start a Business
Getting your Baldwin 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.
To learn about raising money, we recommend you read the fundraising articles on our site, such as 504 Loans.
For Baldwin entrepreneurs with great ambition but a shortage of investment capital, check out our List of Wisconsin Angel Investors and our List of Wisconsin Venture Capital Firms.
The Art of Selling
Mastering the art of selling is priority one if you want your new Baldwin business to do well.
So what does it take to bring in more prospects and close more business? The good news is we can help you to make selling a big competitve advantage for your new firm.
Tips on Customer Referrals offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
What's Next?
Most new Baldwin businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
Our goal here is to promote the vitality and growth of small businesses in Baldwin and throughout the United States . We want to be there for you to answer your business questions, whether you are a new Baldwin 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 Baldwin, Wisconsin
Here are more links that we believe will help you be successful in starting a business in Baldwin.
- Resources for Baldwin, Wisconsin Entrepreneurs - Browse a variety of resources we've collected to assist Baldwin entrepreneurs.
- Wisconsin Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Wisconsin.
- Wisconsin Small Business Development Center - Wisconsin Small Business Development Centers offer a variety of educational services to small-businesses. The low-cost courses, seminars, and workshops cover both basic and complex topics, from marketing to management techniques to business plan development.
More Business Startup Guides for Wisconsin
Starting a Business in Ashland
Starting a Business in Balsam Lake
Browse All Business Startup Guides for Wisconsin
Starting a Business Guides for Other States
Share this article
Additional Resources for Entrepreneurs