Michigan Business Startup Guides
Start a Business in Beaver Island, Michigan
Are you starting a business in Beaver Island, Michigan? This article discusses the most important things to consider when opening a business in Beaver Island.
Is Becoming an Entrepreneur Right for You?
Most startup companies don't make it, in part because the founder did not have the perseverance and abilities that are necessary to succeed. So, before you start your business, consider all of the implications of being an entrepreneur.
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Talk to other entrepreneurs in Beaver Island. Get their take on what it's really like to be an entrepreneur.
- We recommend reading Should You Become an Entrepreneur?. For aspiring new entrepreneurs, it's a must read article.
- Have a candid conversation with friends and family. That's the best way to get a truly objective assessment as to whether others think you have what it takes.
Beaver Island, Michigan Demographic Information
Beaver Island has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Beaver Island demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Beaver Island.
Businesses
As a new Beaver Island entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Beaver Island for each business category. By looking at this chart, you can get a general sense for how much competition there is in the business niche that you are pursuing.
Businesses
What About Buying an Existing Beaver Island Business?
We've created a useful website page for those who want to Buy a Business in Michigan. Follow that link and you may find several good businesses for sale in Beaver Island.
Before buying a business, be sure to read this article: Buying a Business.
Selecting a Name For Your Business
Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset.
Company names should be fun to say, and they should help people to understand what you do and how you differentiate yourself in the market.
For other considerations regarding naming a company, we recommend this article: Naming a Business.
On a final note, given that you are starting a business in Beaver Island, it's imperative that you check now that your company name has not already been claimed by another Michigan business.
Raising Capital for Your Venture
Raising money to fund your new Beaver Island business is not an easy task. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Realistic Debt Financing Options.
For Beaver Island entrepreneurs with great ambition but a shortage of investment capital, you'll want to take a look at our List of Michigan Angel Investors and our List of Michigan Venture Capital Firms.
Advancing Your Entrepreneurial Skills
Good business owners know that they need to continually improve.
With your business being located in Beaver Island, Michigan, you should investigate some of the many programs available at nearby Michigan universities, colleges and community colleges. You should also check if there are any Beaver Island networking organizations.
Moving Forward
Most new Beaver Island businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
Our goal here is to promote the vitality and growth of small businesses in Beaver Island and throughout the United States . We want to be there for you to answer your business questions, whether you are a new Beaver Island entrepreneur who is just getting started or you are already up and running with your new venture.
More Entrepreneurial Resources for Starting a Business in Beaver Island, Michigan
Here are more links that we believe will help you be successful in starting a business in Beaver Island.
- Resources for Beaver Island, Michigan Entrepreneurs - Browse a variety of resources we've collected to assist Beaver Island entrepreneurs.
- Michigan Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Michigan.
- Michigan Small Business Development Center - This organization supports 12 regional offices and over 30 satellite offices, each providing counseling and training to Michigan small business owners and entrepreneurs throughout the 83 counties in Michigan. Services to entrepreneurs are offered through a cooperative agreement with the U.S. Small Business Administration.
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