Illinois Business Startup Guides
Start a Business in East St. Louis, Illinois
Are you starting a business in East St. Louis, Illinois? This article discusses the most important things to consider when opening a business in East St. Louis.
Is Becoming an Entrepreneur Right for You?
Before you get too far along in the process, assess your entrepreneurial instincts and capabilities.
To determine whether you have what it takes to run a business, we recommend these three steps to help you decide:
- Talk to other entrepreneurs in East St. Louis. Get their take on what it's really like to be an entrepreneur.
- We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
- Get feedback from somebody whom you trust. That's the best way to get a truly objective assessment as to whether others think you have what it takes.
Choosing the Right Company to Start
Choosing a business that is right for you is very important. If you are struggling with what type of business to start, 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 an Aromatherapy Skin Care Business guide or our How to Start a Feng Shui Business guide.
Always keep in mind that starting a business in East St. Louis has some implications. Some businesses will do better in East St. Louis than others. A critical consideration is whether East St. Louis demographics mesh well with your startup concept.
What About Buying an Existing East St. Louis Business?
We've created a helpful website page for those who want to Buy a Business in Illinois. Follow that link and you may find several good businesses for sale in East St. Louis.
For anybody who wants to buy a business, we recommend reading this useful article: Buying a Business.
Forming a Company in East St. Louis, Illinois
It's essential that your business is formed as a legal entity that is separate from its owners. Doing so will insulate you from personal liability for business debts and obligations.
The entity you form can be a corporation, LLC, sole proprietorship, partnership or other structure.
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 can incorporate in any state you would like to. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.
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 attorney. Finally, if you are starting a business in East St. Louis, Illinois, our information on Incorporating in Illinois may be a useful resource if you decide to incorporate in Illinois.
Don't Skip the Business Plan
A business plan is critical to the health of your new business. Indeed, a business plan describes what you plan to do with the business and how you plan to do it. Starting a business without a business plan is a recipe for disaster.
To learn more about business plans, read Business Plan Outsourcing. You can also get free counseling sessions provided by your local SCORE chapter in Illinois.
Where to Get Money to Start a Company
Finding the funds to fuel the growth of your East St. Louis business is not an easy task. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.
Take advantage of our many articles on raising capital, such as Choosing VC Firms.
For East St. Louis entrepreneurs in need of startup financing, browse our List of Illinois Angel Investors and our List of Illinois Venture Capital Firms.
Moving Forward
You have a dream -- starting a business in East St. Louis. To achieve your dream, you have to persevere, even when the odds are against you.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in East St. Louis and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new East St. Louis 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 East St. Louis, Illinois
Here are more links that we believe will help you be successful in starting a business in East St. Louis.
- Resources for East St. Louis, Illinois Entrepreneurs - Browse a variety of resources we've collected to assist East St. Louis entrepreneurs.
- Illinois Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Illinois.
- Illinois Small Business Development Center - Illinois Small Business Development Centers located throughout the state provide assistance to new and existing small businesses.
Starting-a-Business Guides for Other Cities in Illinois
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