Michigan Business Startup Guides
Opening a Business in Grand Marais, Michigan
Contemplating starting a business in Grand Marais, Michigan? We walk you through the process of opening a business in Grand Marais.
Which Business to Choose?
Choosing a business that is right for you is very important. To stir your creative juices on what kind of business to start, take a look at Free Business Ideas.
If you still are not sure what type of business to start, peruse the Good Businesses to Start section of our site. For example, you might be interested in our Starting a Dance Club guide or our Starting a Tatoo Parlor guide.
Remember that your new business will be in Grand Marais. If Grand Marais already has plenty of the kind of business you want to start, you might want to change your plans. A critical consideration is whether Grand Marais demographics mesh well with your startup concept.
Grand Marais, Michigan Demographic Information
Grand Marais has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Grand Marais demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Grand Marais.
Businesses
As a new Grand Marais entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Grand Marais 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
Forming a Company in Grand Marais, Michigan
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. The main advantage of forming your new business as a legal entity is that it separates your business liabilities from your personal liabilities.
When forming a company, you will pick from many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporating is a very popular way to form a business. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Michigan, you don't necessarily have to incorporate in Michigan. In fact, you can incorporate in the state of your choosing. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
There are many nuances to forming a company. To learn the fundamentals of company formation, browse articles on our site, such as Dissolving a Corporation. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Grand Marais, Michigan, our web page covering Incorporating in Michigan may be a useful resource if you decide to incorporate in Michigan.
Make Sure You Have a Business Plan
A business plan is critical to the health of your new business. Indeed, a business plan describes what you plan to do with the business and how you plan to do it. Starting a business without a business plan is a recipe for disaster.
To learn more about business plans, read Free Business Plan Templates. You should also take advantage of face-to-face free consulting available from your local SCORE chapter in Michigan.
Getting Money to Start a Business
Obtaining startup financing for your Grand Marais business requires strong organization skills and perseverance. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.
Take advantage of our many articles on raising capital, such as Borrowing Money from Friends and Family.
For Grand Marais entrepreneurs who want to raise money for a new venture, we have assembled a List of Michigan Angel Investors and our List of Michigan Venture Capital Firms.
Marketing Your New Venture
To grow your Grand Marais business, you'll need to have a good marketing plan.
There are myriad resources on this site to help you with your marketing plan. Toll Free Numbers is an article that will generate a few thoughts on your marketing plan. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.
Now It's Up To You
As an entrepreneur in Grand Marais, you won't be working for the boss anymore. You are the boss.
If you choose the right business and love what you do, you will greatly increase your odds of success.
Our goal here is to promote the vitality and growth of small businesses in Grand Marais and throughout the United States . We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.
More Entrepreneurial Resources for Starting a Business in Grand Marais, Michigan
Here are more links that we believe will help you be successful in starting a business in Grand Marais.
- Resources for Grand Marais, Michigan Entrepreneurs - Browse a variety of resources we've collected to assist Grand Marais 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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