10 Steps On How To Start A Profitable Business In Nebraska

Nebraska has a massive manufacturing industry with a large agriculture sector producing top-selling products like corn and soybeans. The domestic industry includes the production of beef, pork, maize, soybeans, and sorghum. Freight transport, rail and truck, manufacturing, telecommunications, information technology, and insurance are the major contributing sectors to Nebraska’s economy.

A diversified economy, Nebraska has different industries in a variety of sectors including manufacturing, finance, telecommunications, and information technology. With a huge market for small businesses, the government offers an array of opportunities for new businesses. Here’s a complete guide on how you can start a successful business in Nebraska.

Here is a Stepwise Guide on Starting a Business In Nebraska with A List of Top Business Ideas for Starters

If you want to legally start a business in Nebraska, follow the given steps:

Step 1. Choose a Business

Here are some of the top businesses you can start in Nebraska from your home.

Virtual Assistant Service

A growing home business across the globe, companies now look for virtual assistants who can work from home. You can start as a freelance virtual assistant offering services like management, data organization, and virtual administration.

Online Marketing Services

Businesses are now looking for more ways how they can promote their products and services. Traditional marketing is losing its charm lately. If you have some unique marketing ideas, start offering marketing services online with detailed plans.

Soybean Export Business

Nebraska has a sprawling agricultural economy producing corns and soybeans. You can start to produce soybean in the state and then export it to other areas of the country.

Travel Agency

The state has a flourishing tourism industry with some of the top tourist attractions. With so many visitors to the state, you can start a travel agency to offer customizable tours, ticketings, flight bookings, currency exchange and more.

Pet Grooming

Pet-related services are huge in Nebraska. If you are an animal enthusiast, you can opt to offer pet grooming services in the state. This may include home visits or a pet-grooming facility of your own.

E-commerce Business

With so many marketplaces like eBay, Amazon, Depop, it’s now really easy to sell products online. Start with outsourcing products and you can have your own e-commerce business with very little capital.

Start A Blog

A blog can help you make money from home. Choose a niche topic, buy a domain and start writing. For the first few months you need to be patient, if you can post regular blogs, you can earn money through advertising or sponsorships.

Social Media Management

Companies now depend on social media for exposure. If you know the bits of social media, you can choose to offer specific digital marketing services like Facebook marketing, Instagram promotions and more.

Music Lessons

If you can play some instrument or know how to sing, you can start your own music classes. Or else you can teach others professionally on how you play an instrument. With the right skills and tools, you can earn well with music classes.

Business Planning Services

Business plans are an important part of any business. It determines how a business will perform. If you have the right skills, you can choose to offer consulting services like writing a well-detailed business plan with all the do’s and don’ts.

Bed & Breakfast

If you are near any interesting tourist destination, start an in-home bed and breakfast business. You can register in places like Airbnb for faster bookings and get paid to host your guests.

Freelance Writing Services

If you wish to write, but not start a blog, it’s better to start to offer writing services. You can work as a freelance writer from home offering services like copywriting, blogging, social media posts, press releases and more.

Step 2. Business Plan

Start with a detailed business plan. Nebraska has several businesses, and it’s going to be competitive. A business plan will help you to stay ahead of your competition. Jot down the goals, targets and how to wish to proceed with your new business.

Step 3. Financing Your Business

The state has a healthy platform for new businesses. There are investors and venture capital firms to whom you can pitch your idea. If you choose to fund your own business, go for a loan with a long-term payback period and low-interest rate.

Step 4. Naming Your Business

You will need a name to register your business. Use a business name generator to choose a unique name. Check with the US trademark department that no one else has your name. Also buy a domain immediately with the same name.

Step 5. Choosing A Business Structure

To register your business in Nebraska, you will need to choose a business structure between a sole proprietorship, partnership, corporation, and an LLC. Forming an LLC will offer added legal benefits and extra advantages with your annual taxes.

Step 6. Federal EIN & Tax Filing

Apply for a Federal EIN from IRS. It will make your business eligible for taxation. Federal Employer Identification Number (FEIN) acts as a tax ID for a business. Kindly visit the Nebraska Department of Taxation and Finance website for more details.

Step 7. Business Permits & Licenses

There are local licenses applicable in different cities of Nebraska. Like you will need a sales tax license to sell products. Nebraska also has special permits and licenses specific to different businesses.

Step 8. Business Bank Account & Accounting Software

A separate bank account will help you to manage your financial transactions better. Also, you can apply for a credit account for vendors with your EIN. Next up, set up a good accounting software which would help to maintain all your transactions at one place.

Step 9. Business Insurance

The state has no mandatory insurance applicable. But it’s better to go for a professional liability policy to sell and a worker’s compensation insurance to legally hire an employee.

Step 10. Promoting Your Business

Promotions play a major role in new businesses. Taking the business to the potential audience is important initially. It’s better to hire an agency for planned promotions and marketing.

Best Places To Start A Business In Nebraska

Choosing the right location is going to determine how your business runs. Here are some of the best places in Nebraska to start your business:

Grand Island

Completing all the steps one by one in a planned manner will help you set up your new business within a short span of time. Hopefully this guide will assist you in establishing your dream business successfully.