Ohio Business Startup Guides

Opening a Business in Minerva, Ohio

Contemplating starting a business in Minerva, Ohio? We walk you through the process of opening a business in Minerva.

Are You Sure You Want to Do This?

Most new businesses don't make it, in part because the entrepreneur did not have the perseverance and abilities that are necessary to succeed. So, before jumping into the world of entrepreneurship, consider all of the implications of being an entrepreneur.

Here are three things we recommend you do before you fully commit to starting a new business of your own.

  • Grab a meal or cofee with other entrepreneurs in Minerva. Ask them candidly what it's like to run a business.
  • Take a look at Starting a Company. It's a short article but it's a good reality check for those are about to jump into the world of entrepreneurship.
  • Talk it over with a close friend or partner. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.

Minerva, Ohio Demographic Information

Minerva has an active business community that includes small businesses, mid-sized businesses and large businesses.

To give you a better feel for Minerva demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Minerva.

Business Size
# of
Businesses
1-4 Employees
375
5-9 Employees
132
10-19 Employees
84
20-49 Employees
66
50-99 Employees
9
100-249 Employees
15
250-499 Employees
0
500-999 Employees
3
1000+ Employees
0
All Minerva Businesses
684

As a new Minerva entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Minerva 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.

Business Type
# of
Businesses
Adhesive Manufacturing
1
Ambulance Services
1
Animal (except Poultry) Slaughtering
1
Appliance Repair and Maintenance
1
Automotive Glass Replacement Shops
1
Automotive Parts and Accessories Stores
3
Baked Goods Stores
1
Bowling Centers
1
Broom, Brush, and Mop Manufacturing
1
Business Associations
1
Cable and Other Program Distribution
1
Cement Manufacturing
1
Civic and Social Organizations
2
Coin-Operated Laundries and Drycleaners
1
Convenience Stores
1
Credit Unions
1
Custom Compounding of Purchased Resins
1
Drinking Places (Alcoholic Beverages)
4
Drywall and Insulation Contractors
1
Electrical Contractors
3
Elementary and Secondary Schools
3
Fine Arts Schools
1
Finish Carpentry Contractors
1
Fitness and Recreational Sports Centers
1
Florists
1
Fluid Milk Manufacturing
1
Folding Paperboard Box Manufacturing
1
Footwear Merchant Wholesalers
1
Full-Service Restaurants
5
Funeral Homes and Funeral Services
3
Furniture Stores
1
General Automotive Repair
3
Gift, Novelty, and Souvenir Stores
2
Golf Courses and Country Clubs
2
Hardware Stores
1
Hobby, Toy, and Game Stores
1
Home Health Care Services
1
Insurance Agencies and Brokerages
8
Iron and Steel Forging
2
Janitorial Services
2
Jewelry Stores
2
Landscaping Services
5
Locksmiths
1
Mail-Order Houses
1
Manufactured (Mobile) Home Dealers
1
Masonry Contractors
6
Mortgage and Nonmortgage Loan Brokers
1
Motor Vehicle Metal Stamping
1
Musical Instrument and Supplies Stores
1
Nursing Care Facilities
3
Office Administrative Services
1
Offices of Certified Public Accountants
1
Offices of Chiropractors
2
Offices of Dentists
2
Offices of Lawyers
5
Offices of Optometrists
1
Pharmacies and Drug Stores
3
Photography Studios, Portrait
1
Professional Employer Organizations
1
Ready-Mix Concrete Manufacturing
1
Real Estate Credit
1
Residential Remodelers
1
Retail Bakeries
1
Securities Brokerage
1
Site Preparation Contractors
2
Snack and Nonalcoholic Beverage Bars
1
Solid Waste Collection
1
Sporting Goods Stores
1
Tax Preparation Services
1
Telemarketing Bureaus
1
Tile and Terrazzo Contractors
1
Tire Dealers
2
Title Abstract and Settlement Offices
1
Tobacco Stores
1
Veterinary Services
2
Video Tape and Disc Rental
1
Wired Telecommunications Carriers
2

Forming a Company in Minerva, Ohio

It's essential that your business is formed as a legal entity that is separate from its owners. The principal advantage of forming your new business as a legal entity is that it separates your business liabilities from your personal liabilities.

When forming a company, you will decide among many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.

Incorporating 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 Ohio, you don't necessarily have to incorporate in Ohio. In fact, you can 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. To learn the fundamentals of company formation, browse articles on our site, such as Registered Agents. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Minerva, Ohio, our web page covering Incorporating in Ohio may be a useful resource if you decide to incorporate in Ohio.

Don't Forget to Create a Business Plan

Writing a business plan is critical in maximizing the prospects of your new company. Indeed, a business plan describes what you plan to do with the business and how you plan to do it. Starting a business without a business plan will greatly reduce your chances of business success.

To learn more about business plans, read Business Plan Mistakes. A great resource for business planning assistance is the face-to-face free consulting available from your local SCORE chapter in Ohio.

Raising Funding for Your Business

Raising money to fund your new Minerva business is very difficult due to the ongoing business credit crunch. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.

Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled 504 Loans.

For Minerva entrepreneurs on the hunt for startup funding, check out our List of Ohio Angel Investors and our List of Ohio Venture Capital Firms.

Building Up Your Sales

Mastering the art of selling is priority one if you want your new Minerva business to do well.

So what does it take to bring in more prospects and close more business? The good news is we can help you to make selling a big competitve advantage for your new firm.

Tips on Customer Referrals offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.

Increase Your Entrepreneurial Knowledge

Good business owners recognize that they need to continually improve.

Given that you are starting a business in Minerva, Ohio, you should check out some of the learning programs at local Ohio educational institutions. You should also check if there are any networking groups or organizations in which Minerva entrepreneurs get together to network and trade their business experiences.

Next Steps

Most new Minerva businesses underestimate the number of challenges they will face.

From this point on, you control your own destiny.

We are here to help Minerva businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Minerva, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Minerva, Ohio

Here are more links that we believe will help you be successful in starting a business in Minerva.

  • Resources for Minerva, Ohio Entrepreneurs - Browse a variety of resources we've collected to assist Minerva entrepreneurs.
  • Ohio Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Ohio.
  • Ohio Small Business Development Center - Whether you're starting your business, expanding your business, or just looking to stay in business, the Small Business Development Centers of Ohio (SBDCs of Ohio) can help with professional guidance by connecting you with research, financing sources, and training opportunities.

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