Minnesota Business Startup Guides
Open a Business in Becker, Minnesota
Need help starting a business in Becker, Minnesota? We've got the information you need to open a business in Becker.
Is Becoming an Entrepreneur Right for You?
Most new businesses don't make it, in part because the founder did not have the tenacity and/or the skills to succeed. So, before you start your 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:
- Grab a meal or cofee with other entrepreneurs in Becker. Get their take on what it's really like to be an entrepreneur.
- Take a look at Business Failure. It's a short article but it's a good reality check for those are about to jump into the world of entrepreneurship.
- Involve a spouse, family member or trusted friend in the decision. That's the best way to get a truly objective assessment as to whether others think you have what it takes.
Becker, Minnesota Demographic Information
Becker has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Becker demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Becker.
Businesses
As a new Becker entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Becker 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
Have You Considered Buying an Existing Becker 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 Becker.
Before buying a business, be sure to read this article: How to Buy a Business.
Choosing a Company 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: Naming a Company.
On a final note, given that you are opening a business in Becker, it's imperative that you check now that no other Minnesota company is using the business name you want to use.
Company Formation in Becker, Minnesota
A critical step is ensuring that you form your business as a legal structure. The principal advantage of forming your new business as a legal entity is that it separates your business liabilities from your personal liabilities.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation is a very common way to legally create a business entity. 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. Just because you are starting a business in Minnesota, you don't necessarily have to incorporate in Minnesota. In fact, you are allowed to 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's a lot to know about forming a company. To learn the fundamentals of company formation, browse articles on our site, such as Incorporating Online. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Becker, Minnesota, our information on Incorporating in Minnesota may be a useful resource if you decide to incorporate in Minnesota.
Don't Forget to Create a Business Plan
Having a business plan is essential in maximizing the prospects of your new company. Simply put, your business plan is your game plan for how you hope to grow your business. Starting a business without a business plan makes you more prone to becoming a business failure statistic.
If writing a business plan is on your to-do list, be sure to read Business Plan Contests. A great resource for business planning assistance is the free counseling sessions provided by your local SCORE chapter in Minnesota.
Promoting Your New Company
To grow your Becker business, you'll need to have a good marketing plan.
You can learn all about marketing on our site. Music on Hold discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.
Moving Forward
Most new Becker businesses underestimate the number of challenges they will face.
If you choose the right business and love what you do, you will greatly increase your odds of success.
This site is all about helping entrepreneurs in Becker and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Becker, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Becker, Minnesota
Here are more links that we believe will help you be successful in starting a business in Becker.
- Resources for Becker, Minnesota Entrepreneurs - Browse a variety of resources we've collected to assist Becker 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.
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