Arkansas Business Startup Guides
Opening a Business in Fayetteville, Arkansas
Contemplating starting a business in Fayetteville, Arkansas? We walk you through the process of opening a business in Fayetteville.
Which Business to Choose?
Choosing a business that is right for you is very important. To stir your creative juices on what kind of business to start, take a look at Free Business Ideas.
For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our How to Start a Swimwear Retail Business guide or our How to Start a Used Stereo Equipment Business guide.
Remember that you are starting a business in Fayetteville. Some businesses will do better in Fayetteville than others. A critical consideration is whether Fayetteville demographics mesh well with your startup concept.
Fayetteville, Arkansas Demographic Information
Fayetteville has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Fayetteville demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Fayetteville.
Businesses
As a new Fayetteville entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Fayetteville 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
Forming a Company in Fayetteville, Arkansas
It's essential that your business is formed as a legal entity that is separate from its owners. Doing so will shield you from personal liability for business debts and obligations.
The entity you form can be a corporation, LLC, sole proprietorship, partnership or other structure.
Incorporating 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 Arkansas, it doesn't mean you are required to incorporate in Arkansas. In fact, you can incorporate wherever you want. 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. To learn the fundamentals of company formation, browse articles on our site, such as Avoiding Personal Liability in Business. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Fayetteville, Arkansas, our information on Incorporating in Arkansas may be a useful resource if you decide to incorporate in Arkansas.
Don't Forget to Create a Business Plan
A business plan is vital in laying a solid foundation for your business success. Simply put, a business plan is a written description of the future you envision for your business. Not having a business plan is a recipe for disaster.
To learn more about business plans, read Business Plan Contests. You can also get face-to-face free consulting available from your local SCORE chapter in Arkansas.
Getting Money to Start a Business
Getting your Fayetteville business the capital it needs to succeed 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.
The good news is this site contains dozens of articles on raising money, including one we recommend entitled Choosing VC Firms.
For Fayetteville entrepreneurs who want to raise money for a new venture, we have assembled a List of Arkansas Angel Investors and our List of Arkansas Venture Capital Firms.
Bring in Revenues
Being able to sell is critical to your business success. Whether you are focused on selling local customers in Fayetteville or are selling to customers throughout Arkansas, 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? Let us help you refine your selling techniques through our many useful sales advice tips.
Selling Stuff on the Web is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.
Now It's Up To You
You have a dream -- starting a business in Fayetteville. 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.
This site is all about helping entrepreneurs in Fayetteville and elsewhere to achieve real success. We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.
More Entrepreneurial Resources for Starting a Business in Fayetteville, Arkansas
Here are more links that we believe will help you be successful in starting a business in Fayetteville.
- Resources for Fayetteville, Arkansas Entrepreneurs - Browse a variety of resources we've collected to assist Fayetteville entrepreneurs.
- Arkansas Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Arkansas.
- Arkansas Small Business Development Center - The Arkansas Small Business Development Center (ASBDC) is a University-based economic development program which provides assistance to entrepreneurs and small businesses throughout Arkansas via a statewide network of seven offices.
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