Minnesota Business Startup Guides
Opening a Business in Grand Rapids, Minnesota
Contemplating starting a business in Grand Rapids, Minnesota? We walk you through the process of opening a business in Grand Rapids.
Are You Ready for the Challenges of Being an Entrepreneur?
Most new companies don't make it, in part because the entrepreneur did not have the entrepreneurial skills and traits needed to succeed. So, before you open a business, consider all of the implications of being an entrepreneur.
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Speak with other entrepreneurs in Grand Rapids. Listen closely to their experiences and see if you think you too can be successful.
- You should read Starting a Company. It's a good read for those who are thinking about becoming an entrepreneur.
- Talk it over with a close friend or partner. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.
Grand Rapids, Minnesota Demographic Information
Grand Rapids has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Grand Rapids demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Grand Rapids.
Businesses
As a new Grand Rapids entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Grand Rapids 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
What About Buying an Existing Grand Rapids Business?
An excellent way to get started in business is to Buy a Business in Minnesota. Follow that link and you may find several good businesses for sale in Grand Rapids.
Before buying a business, be sure to read this article: How to Buy a Business.
Choosing a Business Name
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.
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.
As a final piece of advice, remember that because you are starting a business in Grand Rapids, it's imperative that you check now that no other Minnesota company is using the business name you want to use.
Where to Get Money to Start a Company
Getting your Grand Rapids business the capital it needs to succeed is a difficult chore. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Angel Investors.
For Grand Rapids entrepreneurs in need of startup financing, check out our List of Minnesota Angel Investors and our List of Minnesota Venture Capital Firms.
Learning More About Entrepreneurship
Successful business owners know that they don't know everything.
As an entrepreneur who lives in Grand Rapids, Minnesota, you will want to take advantage of the many programs available at nearby Minnesota universities, colleges and community colleges. It's also worthwhile to see if there are any Grand Rapids networking organizations.
Never Give Up
Most new Grand Rapids businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
We are here to help Grand Rapids businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Grand Rapids 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 Grand Rapids, Minnesota
Here are more links that we believe will help you be successful in starting a business in Grand Rapids.
- Resources for Grand Rapids, Minnesota Entrepreneurs - Browse a variety of resources we've collected to assist Grand Rapids 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 Startup Articles for Minnesota Cities
Starting a Business in Grand Meadow
Starting a Business in Granite Falls
Browse All Business Startup Guides for Minnesota
Starting a Business Guides for Other States
Share this article
Additional Resources for Entrepreneurs