Missouri has a lot of advantages for small businesses. It offers business-friendly legislation and a healthy economy. Its major industries include agriculture, computer manufacturing, beer production, soybeans, cotton, rice, hay, and livestock.
Primary industry sectors include transportation, processing, chemical, light manufacturing, and finance.
Missouri also boasts a thriving small-to-medium-sized enterprise (SME) sector. These include sectors such as agriculture, science, and biotechnology.
Tourism, service industries, and retail trade continue to be among the most important contributors to the economic well-being of the states. Read our comprehensive list of resources for starting a new venture in Missouri.
10 Steps to Start a Business in Missouri
To legally start a business in MO, follow these simple instructions:
Step 1. Choose a Business
List of Top Profitable Small Business Ideas & Opportunities in Missouri
Here are some of Missouri’s best business ideas:
1. Speech Writing Services
If you’re someone who can write well, you can offer writing services for people who struggle to communicate effectively.
2. Hogs Business
Missouri is one of the best places to raise pigs because they’re good at producing pork. Pork is used by most people in the United Kingdom.
3. Farming Business
Missouri produces a wide range of agricultural products. It is known for its soybeans, dairy products (cheese), hays, maize, chicken, pork, and eggs. If you want to start a successful farm business with low investment, read this article.
4. Podcasting Business
Are you someone who does not like speaking in front of an audience, but can deliver a speech well? Well, there is a career you can pursue where you can earn money without having to stand in front of people.
Start a voice recording company and sell your recordings online. In the long run, you can charge subscription and endorsement fees.
5. Moving Company
Americans typically need to relocate to at least twelve different locations during their lifetimes, which means there’s a large potential market for moving companies.
6. Microbrewery
Missouri has a thriving brewing industry. Craft breweries require substantial investments, but they’re highly successful.
7. Photo Editing Business
Photo editing is one of the most popular businesses today; you can learn to edit photos using some free tools online and start offering editing services.
Read: How to start a photography studio business
8. Packaging Design Business
Most businesses, need some kind of packaging. You can offer design services and visual graphics while for packaging. This includes things like shipping, storage, resaling, and usage.
9. Online Magazine
Have you ever considered creating an online publication? Well, today’s technology allows you to create a website without any coding knowledge.
You can simply hire a professional designer who can make your site attractive and user-friendly. And if you wish to add extra features to your site, you can outsource them to experts.
10. T-Shirt Printing Business
T-shirts are extremely popular in Missouri. If you want to start a custom t-shirt printing company, you can either allow your clients to design their own shirts or you can create your own unique designs.
11. Start a Cafe
It’s easier than ever to open a coffee shop these days. You don’t need an expensive license to operate one anymore. And if you’re planning to open a restaurant, think about starting out by opening a smaller café first.
12. Online Courses
Nowadays, online courses are a huge industry. You can either earn commissions by offering courses from different websites for free or charge people for a single course.
13. Online Survey
If you’re looking for an easy way to make some extra cash, then online surveys may be right up your alley. Just register for one of the websites offering online surveys and check out their offers.
Step 2. Business Plan
Missouri has lots of businesses, from big companies to small ones, which operate in different locations. However, if you make a proper strategy, then you’ll be able to succeed easily. Make a detailed business strategy stating your objectives and targets.
Step 3. Financing Your Business
If you’re looking to start up a business in Missouri, there’s no better place than here. Pitch your ideas to investors and venture capital companies for funding. For financing, look for loans with low-interest rates and long repayment periods.
Step 4. Naming Your Business
Registering a company is easy; choose a good company-friendly (and short) company-related word for your company’s brand. Make sure the domain is available before buying it.
Step 5. Choosing A Business Structure
You can register your business under either sole proprietorship or corporate form. Sole proprietorships come with some additional disadvantages. Corporations offer several advantages.
Step 6. Federal EIN & Tax Filing
You can get a federal ein number (FEIN) through the IRS. It’s used for filing taxes. To learn more about how to obtain one, check out the IRS website. Also, if you’re hiring employees, you’ll need to register them with the Social Security Administration. They’ll issue them a social security card. That card can then be used to verify employment eligibility.
Step 7. Business Permits & Licenses
There are lots of different types of business licenses. Make sure you check out each one before starting up. Each type of license has its own set of requirements.
Some counties even have their own special licenses that are specific to certain types of businesses. For instance, there may be a special license for real estate agents. Check out all the different licensing requirements before setting up shop.
Step 8. Business Bank Account & Accounting Software
Apply for an online banking service. An online bank can offer you better services than traditional banks such as checking accounts, savings accounts, credit cards, debit cards, loans, mortgages, insurance policies, investments, retirement plans, and more. You can also get access to your money through mobile devices.
Step 9. Business Insurance
For business owners who want to offer their services to others, the state of Missouri requires them to have professional liability (PL) and workers’ compensation (WC) policies.
Step 10. Promoting Your Business
Once everything is in place, it’s finally time to get the message out there. Hiring an agency to promote your brand could be better than trying to do it yourself.
Best Places To Start A Business In Missouri
Starting a business requires choosing the right place for your business. Here are some of Missouri’s best locations for starting a business.
KansasCity St.Louis Springfield Columbia Lee’s Summit
If you follow each step carefully, you’ll be able to set up your new company in no time at all.
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