Ecwid for Small Business

How to Start a Small Business in Arkansas (AR)

Starting a business is a dream for many people living in the United States today. That’s particularly true for those living in the great state of Arkansas.

Thankfully, Arkansas is ranked 12th in the nation for lowest cost of living and also in 12th for lowest business costs. On top of that, they are 2nd in lowest cost of labor. All of these are great reasons to see Arkansas as the state to open your business.

Promo image

Arkansas’s Most Popular Businesses

The best part of opening a business is getting to make it your own. Even if another store sells the same thing, your brand and products will help you stand out from the crowd. In Arkansas, there are a few genres of business that are incredibly popular and tend to perform well. Clothing boutiques and drive-in theaters can be a fun business to take on, as well as dog breeding companies, bait, and tackle shops, and veterinary businesses.

Planning Processes

To start a business in the first place, coming up with a plan and getting a rundown of the proper steps to take is crucial. Here are some steps to help you get started:

1. Pick a name

While you may have already been brainstorming names when you came up with your business idea, coming up with an attractive name is crucial to opening your doors. To choose a name, you’ll want to think about your business’ values and what you are offering your customers.

The name should also be unique enough to stand out in a crowd and be memorable, so your customers can go off and rave about your store to friends. The name you choose is a sneak peek into what your store is. You want it to be a good representation of what you have to offer. 

In Arkansas, there are also rules to keep in mind while choosing a name for your business, but don’t let that keep you from opening up your dream venture.

2.  Conduct market research

Conducting market research may be the perfect way to truly understand the field you are about to get into. This will give you a chance to better understand your audience and their needs, as well as what your competitors are doing.

3.  Choose a structure

When you choose to open a business, you will need to choose a business structure to register under. This could be anything from an LLC, partnership, corporation, non-profit, or sole proprietorship.

Registering in Arkansas

Once you figure out what kind of business structure will work best for your store, you will have to go about registering it in Arkansas. You must have a business name selected, a registered agent to take care of the business’ taxes, your employer identification number, and your formation documents. Depending on what structure you did choose, there could be other forms or actions needed to fulfill that structure properly.

It’s All About Location

If you are looking to open a business in Arkansas, you will want to pick a location that will be fruitful to your goals. Somewhere with good foot traffic and word of mouth around the city. Places like Little Rock and Jonesboro could be great for your business. 

If you are looking to open an online store, however, this may not matter much. You can open up from anywhere in the state!

Focus on Banking

One of the first steps after registration is to open a bank account solely for your business, so it isn’t intertwined with your personal affairs. Then, you will want to open up a credit card for your store as well. This will help keep track of transitions and spending and help your business gain good credit.

Insure Your Business

Opening a business could bring several risks and liabilities, so you must get insurance to go along with it. This could look like Workers’ Compensation Insurance, General Liability Insurance, or Professional Liability Insurance. In the state of Arkansas, if your business has three or more employees within it, you will be required to have some sort of workers’ compensation insurance.

Hiring Employees

Unless you plan to run your business all by yourself, you will probably hire some employees. This would entail making sure you are registered through the IRS for Employee Taxes, then reporting all new hires to the state of Arkansas.

Branding

While the name of your business may be able to show who you are, branding is there to show what you are. Proper branding can help show your audience the experience they will expect to have with your business and the unique persona you offer the public.

What do you want your brand to represent?
How do you want to be seen by your customers?

Questions like these can help you try to figure out what kind of brand you want your business to have. 
 
It might be time to create a logo. This logo will be placed on price tags, receipts, bags, and even your website. You will want a logo you are proud of and one that currently represents your name and brand.

Get Online

Today, almost every business maintains a strong online presence. That should be the same with your business. Even if you are a brick-and-mortar store, having a well-made website can set you apart from the others in your field. This website can showcase your brand and products—and allow your customers to buy right from there with ease. 
 
Social media accounts can be a great tool to utilize if you are a brick-and-mortar or online store. They can help show off your products, create a link to an online cart for purchases, and develop a connection with your customers. Platforms like Facebook, Instagram, and TikTok are perfect for developing successful small businesses.

Online Business

If you plan to have an online store instead of a tangible one, a website is still a necessary component. If you need help figuring out where to start with an online business and how to make a website, Ecwid is there to help give you the proper resources and tools. 
 
They offer step-by-step guides on creating a website, selling products, and even connecting your brand and business to multiple social media accounts. You can sell on multiple platforms, like Facebook and Instagram. When you are capable of selling your products from various sites, you have the potential to get more virtual foot traffic—and from the traffic, you will get sales. Ecwid also offers a convenient dashboard where you can track your sales from all platforms alongside your inventory. An online store can come with many benefits, and Ecwid is there to help your online business succeed.

Marketing

No matter what type of business you have, marketing is one of the key functions of running a proper store. This can be done both physically and virtually. Whichever you might choose, it will take an investment to get your business off the ground. Depending on how big your business is or what your budget is, it could take around $250-$1,500 a month to market yourself properly. 
 
If you are planning to do physical marketing, you could make business cards, pamphlets, billboards, or even community events. 
 
On the other hand, virtual marketing could look different. This could mean buying ad space on platforms like Facebook, Instagram, or Youtube, and running social media accounts for them. You could also use email subscriptions as well. These give you a direct link to your customers to tell them about new products, deals, or any other information they may want to hear about. Marketing will look different for every business, but your approach will depend on your own goals and vision for your brand.

Start Your Business Online

Starting a business online is faster and cheaper.
Transform it into an offline business later.

Try now

No credit card required

Go online

Start Selling Products & Services Online

You don’t have to worry about the office or warehouse if you choose to sell online. Save your time and money.

Promo image

Learn the basics

Starting an Online Store Business is Easy.
We’ll Show You.

So you’re ready to start selling online. Now the million-dollar question… where do you start?

Promo image

Read real stories

Get Yourself Ready
For Surprises

Check out our blog series all about starting an online store without prior experience. It‘s sort of like our own ecommerce reality show—starring Nicole.

Promo image

Find a product

Looking For Things
To Sell Online?

Discover best-selling products and how you can start selling them online and make money.

Promo image

Select sales channels

Catch Your Customers Where They Are

We’ll help you navigate through the market and find the most profitable channels.

Promo image

Start Your Business Online

Starting a business online is faster and cheaper.
Transform it into an offline business later.

Start Selling Online

We use cookies and similar technologies to remember your preferences, measure effectiveness of our campaigns, and analyze depersonalized data to improve performance of our site. By choosing «Accept», you consent to the use of cookies.