Idaho Business Startup Guides
Opening a Business in Cascade, Idaho
Contemplating starting a business in Cascade, Idaho? We walk you through the process of opening a business in Cascade.
Do You Have What It Takes?
Most new businesses do not succeed, 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.
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:
- Talk to other entrepreneurs in Cascade. Get their candid feedback on what it takes to start a successful business.
- We recommend reading Characteristics of Successful Entrepreneurs. For aspiring new entrepreneurs, it's a must read article.
- Seek the advice of somebody who knows you well. A support network of family and friends can be a great sounding board for good advice before you decide for sure to go into business.
Cascade, Idaho Demographic Information
Cascade has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Cascade demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Cascade.
Businesses
As a new Cascade entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Cascade 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
Have You Considered Buying an Existing Cascade Business?
An excellent way to get started in business is to Buy a Business in Idaho. Follow that link and you can review several good businesses for sale in Cascade.
Before buying a business, be sure to read this article: Hold Harmless Agreements When Buying Businesses.
Forming a Company in Cascade, Idaho
A critical step is ensuring that you are forming a legal entity that operates independently from you. The principal advantage of forming your new business as a legal entity is that it separates your business liabilities from your personal liabilities.
When forming a company, you will choose from many company types, such as 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 Idaho, you don't necessarily have to incorporate in Idaho. In fact, 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 Where to Incorporate. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Cascade, Idaho, our web page covering Incorporating in Idaho may be a useful resource if you decide to incorporate in Idaho.
Don't Skip the Business Plan
Creating a business plan is essential in maximizing the prospects of your new company. Simply put, a business plan is a written description of the future you envision for your business. Starting a business without a business plan
To learn more about business plans, read Business Plan Software. A great resource for business planning assistance is the free counseling sessions provided by your local SCORE chapter in Idaho.
Startup Financing Basics
Obtaining startup financing for your Cascade business requires strong organization skills and perseverance. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.
Take advantage of our many articles on securing funding, such as 504 Loans.
For Cascade entrepreneurs on the hunt for startup funding, check out our List of Idaho Angel Investors and our List of Idaho Venture Capital Firms.
Building Up Your Sales
Mastering the art of selling is essential if you want your new Cascade business to do well.
Good selling involves demonstrating that your wares meet your customer's needs. The good news is we can help you to make selling a big competitve advantage for your new firm.
Sales Training offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
Now It's Up To You
Most new Cascade businesses underestimate the number of challenges they will face.
Owning your own business will be a daunting task, but you can do it.
Our goal here is to promote the vitality and growth of small businesses in Cascade and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Cascade, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Cascade, Idaho
Here are more links that we believe will help you be successful in starting a business in Cascade.
- Resources for Cascade, Idaho Entrepreneurs - Browse a variety of resources we've collected to assist Cascade entrepreneurs.
- Idaho Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Idaho.
- Idaho Small Business Development Center - The Idaho Small Business Development Center (Idaho SBDC) is a university-based organization offering a wealth of free and low-cost services to help small businesses and entrepreneurs be successful.
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