Kentucky Business Startup Guides
Opening a Business in Marion, Kentucky
Contemplating starting a business in Marion, Kentucky? We walk you through the process of opening a business in Marion.
Will You Be a Successful Entrepreneur?
Before announcing to the world that you are going to start your own business, take inventory of your entrepreneurial instincts and capabilities.
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Talk to other entrepreneurs in Marion. 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.
Marion, Kentucky Demographic Information
Marion has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Marion demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Marion.
Businesses
As a new Marion entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Marion 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 Marion, Kentucky
It's essential that your business is formed as a legal entity that is separate from its owners. Among other things, forming a legal entity for the business limits your liabilities.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
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 Kentucky, it doesn't mean you are required to incorporate in Kentucky. In fact, you can incorporate in any state you would like to. 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 Pre-Incorporation Agreements. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Marion, Kentucky, our information on Incorporating in Kentucky may be a useful resource if you decide to incorporate in Kentucky.
Where to Get Money to Start a Company
Getting your Marion business the capital it needs to succeed is a difficult chore. In fact, financing your new business may be the hardest challenge you ever face.
Take advantage of our many articles on finding startup capital, such as Borrowing Money from Friends and Family.
For Marion entrepreneurs who need startup capital, we have assembled a List of Kentucky Angel Investors and our List of Kentucky 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 Marion or are selling to customers throughout Kentucky, the United States or even the world, you have to be able to sell.
So what does it take to bring in more prospects and close more business? Fortunately, we've got plenty of good advice to help you improve your selling skills.
Effective Sales Presentations is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.
Increase Your Entrepreneurial Knowledge
Successful entrepreneurs recognize that they don't know everything.
Given that you are starting a business in Marion, Kentucky, you will want to take advantage of the learning programs at local Kentucky educational institutions. It's also beneficial to see if there are any networking groups or organizations in which Marion entrepreneurs get together to network and trade their business experiences.
What's Next?
You have a dream -- starting a business in Marion. 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 Marion and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Marion 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 Marion, Kentucky
Here are more links that we believe will help you be successful in starting a business in Marion.
- Resources for Marion, Kentucky Entrepreneurs - Browse a variety of resources we've collected to assist Marion entrepreneurs.
- Kentucky Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Kentucky.
- Kentucky Small Business Development Center - The Kentucky Small Business Development Center (KSBDC) has been assisting Kentucky small business community for more than 25 years. KSBDC is co-sponsored by the U.S. Small Business Administration and is administered by the University of Kentucky in partnership with regional universities, community and private colleges, and the private sector.
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