Michigan Business Startup Guides
Opening a Business in New Baltimore, Michigan
Contemplating starting a business in New Baltimore, Michigan? We walk you through the process of opening a business in New Baltimore.
New Baltimore, Michigan Demographic Information
New Baltimore has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for New Baltimore demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in New Baltimore.
Businesses
As a new New Baltimore entrepreneur, you may also be interested in the table below. It shows how many businesses there are in New Baltimore 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 New Baltimore, Michigan
It's essential that you choose the right legal structure for your new entity. 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. As it turns out, you can incorporate wherever you want. 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 Avoiding Personal Liability in Business. You may also want to seek the advice of an attorney. Finally, if you are starting a business in New Baltimore, Michigan, our information on Incorporating in Michigan may be a useful resource if you decide to incorporate in Michigan.
Do You Need a Business Plan?
Creating a business plan is critical to the health of your new business. Simply put, a business plan is a written description of the future you envision for your business. Not having a business plan
To learn more about business plans, read Business Plan Contests. You can also get free business counselors available to you through your local SCORE chapter in Michigan.
Raising Funding for Your Venture
Getting your New Baltimore business the capital it needs to succeed 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 Borrowing Money from Friends and Family.
For New Baltimore entrepreneurs in need of startup financing, check out our List of Michigan Angel Investors and our List of Michigan Venture Capital Firms.
Marketing Your New Venture
To rise above the crowd in New Baltimore and build your business, having an excellent marketing plan is fundamental to your beating the competition.
There are myriad resources on this site to help you with your marketing plan. Business Logo Design is a good read to get your marketing juices flowing. That's just one of the many useful articles we have on Marketing a Small Business.
How to Improve Your Entrepreneurial Abilities
Good entrepreneurs recognize that they don't know everything.
As an entrepreneur who lives in New Baltimore, Michigan, you will want to take advantage of the many programs available at nearby Michigan universities, colleges and community colleges. It's also beneficial to see if there are any networking organizations for New Baltimore entrepreneurs.
Now It's Up To You
You have a dream -- starting a business in New Baltimore. To achieve your dream, you have to persevere, even when the odds are against you.
From this point on, you control your own destiny.
We are here to help New Baltimore businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in New Baltimore, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in New Baltimore, Michigan
Here are more links that we believe will help you be successful in starting a business in New Baltimore.
- Resources for New Baltimore, Michigan Entrepreneurs - Browse a variety of resources we've collected to assist New Baltimore 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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