Minnesota Business Startup Guides
Starting a Business in Preston, Minnesota
Thinking about starting a business in Preston, Minnesota? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Preston.
What Type of Business Should You Start?
Choosing a business that is right for you is very important. If you are struggling with what type of business to start, read Good Business Ideas.
To view an extensive list of business types, complete with startup instructions, spend some time in the Good Businesses to Start section of our site. For example, you might be interested in our How to Start a Photo Retouching & Coloring Business guide or our Opening a Stained & Leaded Glass Business guide.
Always keep in mind that starting a business in Preston has some implications. Some businesses will do better in Preston than others. Don't forget to review Preston demographics to see if there's a market for what you want to sell.
Preston, Minnesota Demographic Information
Preston has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Preston demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Preston.
Businesses
As a new Preston entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Preston 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 Preston, Minnesota
It's essential that your business is formed as a legal entity that is separate from its owners. Doing so will separate you from personal liability for business debts and obligations.
When forming a company, you will select one of many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation is a very popular way to form a business. A key decision is whether to form and S-Corp or a C-Corp, and you also must decide in which state you will incorporate. If you are starting a business in Minnesota, you don't necessarily have to incorporate in Minnesota. In fact, you are allowed to incorporate in any state you would like to. 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 How to Incorporate. You may also want to seek the advice of an lawyer. On a final note, since you will be starting a business in Preston, Minnesota, our web page covering Incorporating in Minnesota may be a useful resource if you decide to incorporate in Minnesota.
Getting Money to Start a Business
Raising money to fund your new Preston business is not an easy task. In fact, financing your new business may be the hardest challenge you ever face.
Take advantage of our many articles on raising money, such as Business Cash Advances.
For Preston entrepreneurs who want to raise money for a new venture, you'll want to take a look at our List of Minnesota Angel Investors and our List of Minnesota Venture Capital Firms.
Promoting Your New Company
To grow your Preston business, you'll need to have a good marketing plan.
You can learn plenty about marketing on our site. Comparing Advertising to PR is an article that will stimulate a few thoughts on your marketing plan. That's just a taste of the many useful articles we have on Marketing a Small Business.
How to Sell
Do you know how to sell? In order to attract customers to your new Preston business, you need to focus on sales.
Why should customers buy from you instead of buying from competitors? Fortunately, we've got plenty of good advice to help you improve your selling skills.
Tips on Customer Referrals is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.
Now It's Up To You
As an entrepreneur in Preston, you won't be working for the boss anymore. You are the boss.
Owning your own business will be a daunting task, but you can do it.
Our goal here is to promote the vitality and growth of small businesses in Preston and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Preston, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Preston, Minnesota
Here are more links that we believe will help you be successful in starting a business in Preston.
- Resources for Preston, Minnesota Entrepreneurs - Browse a variety of resources we've collected to assist Preston entrepreneurs.
- Minnesota Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Minnesota.
- Minnesota Small Business Development Center - The Minnesota Small Business Development Centers provide no-cost, professional business consulting to Minnesota small businesses covering a variety of business needs.
More Business Startup Guides for Minnesota
Starting a Business in Plainview
Starting a Business in Princeton
Browse All Business Startup Guides for Minnesota
Starting a Business Guides for Other States
Share this article
Additional Resources for Entrepreneurs