Michigan Business Startup Guides
Start a Business in Harbor Springs, Michigan
Are you starting a business in Harbor Springs, Michigan? This article discusses the most important things to consider when opening a business in Harbor Springs.
Do You Have What It Takes?
Before announcing to the world that you are going to start your own business, take inventory of your entrepreneurial instincts and capabilities.
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Talk to other entrepreneurs in Harbor Springs. Get their candid feedback on what it takes to start a successful business.
- We recommend reading Characteristics of Successful Entrepreneurs. For aspiring new entrepreneurs, it's a must read article.
- Seek the advice of somebody who knows you well. A support network of family and friends can be a great sounding board for good advice before you decide for sure to go into business.
Harbor Springs, Michigan Demographic Information
Harbor Springs has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Harbor Springs demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Harbor Springs.
Businesses
As a new Harbor Springs entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Harbor Springs 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
Naming the Company
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.
We strongly advocate that you make sure the ".com" domain name is available for your company name. Every business needs a strong Web presence these days, and having a non ".com" domain means somebody else may outrank you in the search results for your own company name.
For other considerations regarding naming a company, we recommend this article: Naming a Company.
As a final piece of advice, remember that because you are opening a business in Harbor Springs, it's very important that you make sure no other Michigan company is using the business name you want to use.
Forming a Company in Harbor Springs, Michigan
A critical step is ensuring that you form your business as a legal structure. Doing so will shield you from personal liability for business debts and obligations.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporating is a very common way to legally create a business entity. 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 are allowed to 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. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Company Formation. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Harbor Springs, Michigan, our information on Incorporating in Michigan may be a useful resource if you decide to incorporate in Michigan.
Make Sure You Have a Business Plan
Having a business plan is essential in maximizing the prospects of your new company. Simply put, your business plan is your game plan for how you hope to grow your business. Starting a business without a business plan makes you more prone to becoming a business failure statistic.
If writing a business plan is on your to-do list, be sure to read Business Plan Contests. You can also get face-to-face free consulting available from your local SCORE chapter in Michigan.
Raising Capital for Your Business
Getting your Harbor Springs business the capital it needs to succeed will be harder than you might expect. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.
The good news is this site contains dozens of articles on raising money, including one we recommend entitled How Much Venture Capital Is There?.
For Harbor Springs 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 Business
Whether your goal is to attract Harbor Springs customers or you plan on selling elsewhere, you need a solid marketing plan.
We have some great resources on this site for entrepreneurs who are working on marketing plans. Avoiding Bad Product Launches is a good read to get your marketing juices flowing. That's just a sampling of the many useful articles we have on Marketing a Small Business.
Now It's Up To You
You have a dream -- starting a business in Harbor Springs. To achieve your dream, you have to persevere, even when the odds are against you.
Owning your own business will be a daunting task, but you can do it.
We are here to help Harbor Springs businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Harbor Springs 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 Harbor Springs, Michigan
Here are more links that we believe will help you be successful in starting a business in Harbor Springs.
- Resources for Harbor Springs, Michigan Entrepreneurs - Browse a variety of resources we've collected to assist Harbor Springs 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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