Are you one of many budding entrepreneurs in South Carolina who hope to impact the state's business economy by bringing fresh new ideas to your community's landscape? Do you hope to help it thrive and secure your own financial stability well into the future? If so, then you might also be one of many who are trying to figure out why some people never seem to be able to bring their dreams to fruition. What is it that makes one business idea stall in its dreaming phase while another skyrockets to success?
When starting a business, you make so many choices that determine its course. The type of entity you choose should reflect the type of business you want now and in the future. In order to choose a business structure that serves it best, you need to understand the major advantages and disadvantages of each.
Small businesses are doing well in South Carolina. The United States Small Business Administration reports that there are 384,274 small businesses in the state. This translates to 96.9 percent of all of the businesses in South Carolina. The report also notes that the startup rate was higher than the exit rate - meaning the number of small businesses is growing.
Having a great idea for a business and actually getting that business up and running are two very different things. One requires creativity and a feeling for what the market in your area needs. The other requires business acumen, time and patience.