Montana Business Startup Guides
Opening a Business in Whitehall, Montana
Contemplating starting a business in Whitehall, Montana? We walk you through the process of opening a business in Whitehall.
Are You Sure You Want to Do This?
Before announcing to the world that you are going to start your own business, 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:
- Grab a meal or cofee with other entrepreneurs in Whitehall. Ask them candidly what it's like to run a business.
- Take a look at The Entrepreneurial Personality. It's a short article but it's a good reality check for those are about to jump into the world of entrepreneurship.
- Reach out to a trusted acquaintance. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
Whitehall, Montana Demographic Information
Whitehall has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Whitehall demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Whitehall.
Businesses
As a new Whitehall entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Whitehall 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 Whitehall Business?
We've created a useful website page for those who want to Buy a Business in Montana. Follow that link and you may find several good businesses for sale in Whitehall.
Before buying a business, be sure to read this article: How to Buy a Business.
Company Formation in Whitehall, Montana
It's very important that your business is formed as a legal entity that is separate from its owners. Without a legal structure for the business, you can be held personally liable for the actions, debts and obligations of your company.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation is a very common way to legally create a business entity. Of course, you have to decide which type of corporation to form and where to incorporate. Just because you are starting a business in Montana, you don't necessarily have to incorporate in Montana. In fact, 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's a lot to know about 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 Whitehall, Montana, our information on Incorporating in Montana may be a useful resource if you decide to incorporate in Montana.
Do You Need a Business Plan?
Creating a business plan is vital to the health of your new business. Simply put, a business plan describes what you plan to do with the business and how you plan to do it. Not having a business plan
If you want more information on writing business plans, we recommend reading Business Plan Contests. You can also get free counseling sessions provided by your local SCORE chapter in Montana.
Raising Money for Your Venture
Getting your Whitehall 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.
On the bright side, this site contains dozens of articles on raising money, including one we recommend entitled How Much Venture Capital Is There?.
For Whitehall entrepreneurs in need of startup financing, you'll want to take a look at our List of Montana Angel Investors and our List of Montana Venture Capital Firms.
How to Sell
Being able to sell is critical to your business success. Whether you are focused on selling local customers in Whitehall or are selling to customers throughout Montana, 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? The good news is we can help you to make selling a big competitve advantage for your new firm.
Sales Prospecting is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.
Next Steps
You have a dream -- starting a business in Whitehall. To achieve your dream, you have to persevere, even when the odds are against you.
From this point on, you control your own destiny.
We are here to help Whitehall 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 Whitehall, Montana
Here are more links that we believe will help you be successful in starting a business in Whitehall.
- Resources for Whitehall, Montana Entrepreneurs - Browse a variety of resources we've collected to assist Whitehall entrepreneurs.
- Montana Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Montana.
- Montana Small Business Development Center - The Montana Small Business Development Centers focus on the creation, retention and expansion of Montana small businesses.
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