Michigan Business Startup Guides
Start a Business in Saginaw, Michigan
Are you starting a business in Saginaw, Michigan? This article discusses the most important things to consider when opening a business in Saginaw.
What Business Are You Starting?
There are many businesses that you can start. How do you know which type of business is right for you? If you are struggling with what type of business to start, read Good Business Ideas.
For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our Starting a Novelties Wholesale & Manufacturers Business guide or our How to Start a Stair Equipment Business guide.
Always keep in mind that starting a business in Saginaw has some implications. Some businesses will do better in Saginaw than others. Don't forget to review Saginaw demographics to see if there's a market for what you want to sell.
Saginaw, Michigan Demographic Information
Saginaw has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Saginaw demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Saginaw.
Businesses
As a new Saginaw entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Saginaw 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
Picking a Company Name
A big decision when starting a company is choosing a company name. Believe it or not, choosing a good company name can be a big contributor to your business success.
Companies like Starbucks, Apple, Target, Microsoft and Intuit all have strong company names that are easy to remember and have become well-loved brands. Wouldn't it be nice if your new company name got on a similar track?
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Branding Advice.
On a final note, given that you are starting a business in Saginaw, it's imperative that you check now that no other Michigan company is using the business name you want to use.
Forming a Company in Saginaw, Michigan
It's very important that your business is formed as a legal entity that is separate from its owners. 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.
Incorporation 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 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 Incorporation Advice. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Saginaw, Michigan, our information on Incorporating in Michigan may be a useful resource if you decide to incorporate in Michigan.
Don't Forget to Create a Business Plan
Writing a business plan is essential to the health of your new business. In effect, a business plan is a written description of the future you envision for your business. Failure to write a business plan will greatly reduce your chances of business success.
To learn more about business plans, read Business Plan Contests. A great resource for business planning assistance is the face-to-face free consulting available from your local SCORE chapter in Michigan.
Selling Tips
Mastering the art of selling is essential if you want your new Saginaw business to do well.
The key to selling is to set sales goals goals and monitor your progress towards those goals. Let us help you refine your selling techniques through our many useful sales advice tips.
Hiring Good Sales People is worth reading, as it may give you some good ideas on how to sell your products or services. We have many more good articles on selling that you may enjoy reading.
How to Improve Your Entrepreneurial Abilities
Successful entrepreneurs recognize that what they know now may not be enough to ensure their future success.
As an entrepreneur who lives in Saginaw, Michigan, you will want to take advantage of the many programs available at nearby Michigan universities, colleges and community colleges. It's also smart to see if there are any Saginaw networking organizations.
Next Steps
Most new Saginaw businesses underestimate the number of challenges they will face.
Owning your own business will be a daunting task, but you can do it.
This site is all about helping entrepreneurs in Saginaw and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Saginaw, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Saginaw, Michigan
Here are more links that we believe will help you be successful in starting a business in Saginaw.
- Resources for Saginaw, Michigan Entrepreneurs - Browse a variety of resources we've collected to assist Saginaw 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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