If you’re looking to start a small business, the Lake of the Ozarks is a great place to do it. With its beautiful scenery and friendly atmosphere, you’ll be able to get your business up and running in no time. Whether you want to start a boat lift company, a home repair contracting business, or a local retail store, the Lake offers lots of opportunities.
Find a Need and Fill It
With an uncertain economy, it’s wise to consider your options regarding income. Even if you’re already employed, the time may come when you will be very glad if you have matched people’s needs to your skills and abilities.
Do a little online research on businesses and individuals offering products or services you would like to be involved in. You can start a nice little side business to learn the ropes and discover what you will need to grow a successful business.
Register Your Business
You’ll need to register your business with the state to get started. You can do this online or by visiting your local licensing office. You’ll also need to set up a bank account and register for taxes.
Once you’ve taken care of the basics, it’s time to start marketing your business. Make sure you use a reputable and professional website design company and/or Facebook page, and be sure to promote your business locally. You can also put flyers in local businesses and post signs in popular areas.
LLC, Corporation, or DBA?
When starting a small business, you’ll need to decide what type of legal structure to use. The three most common options are LLCs, corporations, and DBAs.
Starting a DBA (an acronym that stands for “Doing Business As”) is the most straightforward option, requiring only the basics. DBAs are a good choice for a solo startup business. However, as your business grows, you should consider forming an LLC. DBAs are similar to LLCs but offer more flexibility regarding name changes and ownership.
LLCs are also easy to create, offering some tax benefits over corporations. Corporations offer more protection from personal liability, but they come with more paperwork and red tape.
No matter which option you choose, be sure to talk to an attorney to make sure you’re making the best decision for your business.
Need some help?
Consider reaching out to your local Small Business Development Center to learn about applicable laws, financing possibilities, and an advisor who can help you grow your new business!
Finally, consider joining your local chamber of commerce and attending one of the local business networking socials.
Starting a small business at the Lake of the Ozarks is a great way to get your foot in the door of the local community. With its scenic backdrop and welcoming atmosphere, you’ll be able to make connections and build relationships that will help your business grow.
So what are you waiting for? Whether you want to start a large boat lift company or a small landscaping service, make some plans to start your small business at the Lake of the Ozarks today!
Thanks for reading!