Arkansas Business Startup Guides
Opening a Business in Highland, Arkansas
Contemplating starting a business in Highland, Arkansas? We walk you through the process of opening a business in Highland.
Which Business to Choose?
There are many businesses that you can start. How do you know which type of business is right for you? To help you decide on a business type, we encourage you to read How to Evaluate a Business Idea.
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 Starting an Art Reproductions Business guide or our How to Start a Pipeline Equipment Business guide.
Remember that you are opening your new business in Highland. The business you want to start may already be well-represented in Highland. Only by spending some time analyzing Highland demographics can you decide if there will be strong demand for your business idea.
Naming the Company
Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset.
We strongly advocate that you make sure the ".com" domain name is available for your company name. Every business needs a strong Web presence these days, and having a non ".com" domain means somebody else may outrank you in the search results for your own company name.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Branding Advice.
There's one other important factor when naming a business. Since you are opening a business in Highland, it's very important that you make sure no other Arkansas company is using the business name you want to use.
Forming a Company in Highland, Arkansas
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. The principal advantage of forming your new business as a legal entity is that it separates your business liabilities from your personal liabilities.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
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 Arkansas, you don't necessarily have to incorporate in Arkansas. As it turns out, you are allowed to 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 Dissolving a Corporation. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Highland, Arkansas, our information on Incorporating in Arkansas may be a useful resource if you decide to incorporate in Arkansas.
Make Sure You Have a Business Plan
A business plan is vital 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. Not having a business plan is a recipe for disaster.
If writing a business plan is on your to-do list, be sure to read Business Plan Contests. You can also get free business counselors available to you through your local SCORE chapter in Arkansas.
Raising Money for Your Business
Getting your Highland business the capital it needs to succeed is very difficult due to the ongoing business credit crunch. 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 Getting a Small Business Loan.
For Highland entrepreneurs who need startup capital, you'll want to take a look at our List of Arkansas Angel Investors and our List of Arkansas Venture Capital Firms.
How to Improve Your Entrepreneurial Abilities
Successful business owners recognize that they don't know everything.
As an entrepreneur who lives in Highland, Arkansas, you will want to take advantage of the learning programs at local Arkansas educational institutions. It's also worthwhile to see if there are any networking groups or organizations in which Highland entrepreneurs get together to network and trade their business experiences.
Now It's Up To You
You have a dream -- starting a business in Highland. To achieve your dream, you have to persevere, even when the odds are against you.
Owning your own business will be a daunting task, but you can do it.
This site is all about helping entrepreneurs in Highland and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Highland 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 Highland, Arkansas
Here are more links that we believe will help you be successful in starting a business in Highland.
- Resources for Highland, Arkansas Entrepreneurs - Browse a variety of resources we've collected to assist Highland 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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