Small businesses are located in communities of all sizes

Individuals considering forming a small business are likely aware of the important role the location plays. Depending on the type of start-up, it may make sense to base the business in a city such as Chicago rather than a more rural setting. Other times, the opposite may be true. According to a Small Business Administration study done in 2008, rates of both businesses starting and ending are roughly the same.

Benefits to starting a business in a city setting include:

  • An extremely large customer base
  • A strong network of owners of similar businesses
  • An abundance of training programs
  • The presence of mentoring programs

In rural areas, located away from the hustle and bustle of cities, many of these opportunities do not exist or if they do, it is to a much lesser degree. Many businesses in those areas may be eligible for grants that will assist entrepreneurs such as those that were announced earlier this month by the U.S. Department of Agriculture. A total of 41 organizations received grants to help provide job training and promote the development of small businesses in places outside the city.

Wherever someone decides to base a small business there are many issues that need to be addressed. The failure to take care of these things in a proper manner at the outset can lead to expensive problems down-the-line. Working with an attorney who has knowledge of what it takes to get a small business started often greatly minimizes the chance that these problems will arise.

Source: The Street, "How Small Towns Can Grow Small Businesses," Elizabeth Blackwell, Aug. 24, 2012

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