South Dakota Business Startup Guides
Opening a Business in Sturgis, South Dakota
Contemplating starting a business in Sturgis, South Dakota? We walk you through the process of opening a business in Sturgis.
Choosing the Right Company to Start
Choosing a business that is right for you is very important. You might get some good ideas about what kind of business to start by reading Good Business Ideas.
To view an extensive list of business types, complete with startup instructions, spend some time in the Good Businesses to Start section of our site. For example, you might be interested in our Starting a Fan Retailer guide or our Opening a Skiing Clubs & Organizations Business guide.
Don't forget that your new business will be in Sturgis. Some businesses will do better in Sturgis than others. Study Sturgis demographics and do a competitive analysis as part of your startup planning process.
Sturgis, South Dakota Demographic Information
Sturgis has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Sturgis demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Sturgis.
Businesses
As a new Sturgis entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Sturgis 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
Have You Considered Buying an Existing Sturgis Business?
If you have some capital to play with, you may want to Buy a Business in South Dakota. Follow that link and you may find several good businesses for sale in Sturgis.
Before buying a business, be sure to read this article: Buying a Business.
Selecting a Name For Your Business
A good company name can give a big boost to a new startup. It might seem like an easy thing to do, but there are many things to consider when naming a business.
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?
Numerous company naming issues are discussed in more detail in this article: Branding Advice.
As a final piece of advice, remember that because you are starting a business in Sturgis, it's very important that you make sure no other South Dakota company is using the business name you want to use.
Company Formation in Sturgis, South Dakota
It's essential that you are forming a legal entity that operates independently from you. 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. Just because you are starting a business in South Dakota, you don't necessarily have to incorporate in South Dakota. In fact, you are allowed to 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's a lot to know about 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 Sturgis, South Dakota, our information on Incorporating in South Dakota may be a useful resource if you decide to incorporate in South Dakota.
Raising Money for Your New Venture
Getting your Sturgis 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 Getting a Small Business Loan.
For Sturgis entrepreneurs who need startup capital, check out our List of South Dakota Angel Investors and our List of South Dakota Venture Capital Firms.
Never Give Up
You have a dream -- starting a business in Sturgis. 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.
We are here to help Sturgis businesses to be successful. 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 Sturgis, South Dakota
Here are more links that we believe will help you be successful in starting a business in Sturgis.
- Resources for Sturgis, South Dakota Entrepreneurs - Browse a variety of resources we've collected to assist Sturgis entrepreneurs.
- South Dakota Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in South Dakota.
- South Dakota Small Business Development Center - The South Dakota Small Business Development Center (SBDC) helps new South Dakota entrepreneurs realize their dream of business ownership and assists existing businesses in their efforts to remain competitive.
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