Illinois Business Startup Guides
Starting a Business in Macomb, Illinois
Thinking about starting a business in Macomb, Illinois? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Macomb.
Will You Be a Successful Entrepreneur?
Before you get too far along in the process, take inventory of your entrepreneurial instincts and capabilities.
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 Macomb. They are usually very willing to share their insights on the ups and downs of being 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. Others sometimes know you better than you know yourself.
Macomb, Illinois Demographic Information
Macomb has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Macomb demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Macomb.
Businesses
As a new Macomb entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Macomb 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
What About Buying an Existing Macomb Business?
We've created a useful website page for those who want to Buy a Business in Illinois. Follow that link and you can review several good businesses for sale in Macomb.
If you are serious about buying a business, you may want to read this article: Hold Harmless Agreements When Buying Businesses.
Picking a Company Name
A big decision when starting a company is choosing a company name. Believe it or not, choosing a good company name can be a big contributor to your business success.
Companies like Starbucks, Apple, Target, Microsoft and Intuit all have strong company names that are easy to remember and have become well-loved brands. Wouldn't it be nice if your new company name got on a similar track?
For other considerations regarding naming a company, we recommend this article: Naming a Business.
There's one other important factor when naming a business. Since you are starting a business in Macomb, it's very important that you make sure no other Illinois company is using the business name you want to use.
Raising Money for Your New Venture
Getting your Macomb business the capital it needs to succeed is a difficult chore. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.
To learn about raising money, we recommend you read the fundraising articles on our site, such as Attracting Investors.
For Macomb entrepreneurs who want to raise money for a new venture, check out our List of Illinois Angel Investors and our List of Illinois Venture Capital Firms.
Bring in Revenues
Being able to sell is fundamental to your business success. Whether you are focused on selling local customers in Macomb or are selling to customers throughout Illinois, the United States or even the world, you have to be able to sell.
Not knowing how to sell can result in lost customers and minimal market share. Fortunately, we've got plenty of good advice to help you improve your selling skills.
Good Sales Strategies offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
What's Next?
You have a dream -- starting a business in Macomb. 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 Macomb and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Macomb, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Macomb, Illinois
Here are more links that we believe will help you be successful in starting a business in Macomb.
- Resources for Macomb, Illinois Entrepreneurs - Browse a variety of resources we've collected to assist Macomb 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.
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