Michigan Business Startup Guides
Open a Business in Brooklyn, Michigan
Need help starting a business in Brooklyn, Michigan? We've got the information you need to open a business in Brooklyn.
Are You Ready for the Challenges of Being an Entrepreneur?
Before you get too far along in the process, take inventory of your entrepreneurial instincts and capabilities.
Before you move forward with starting a business, be sure to do these three things:
- Talk to other entrepreneurs in Brooklyn. Listen closely to their experiences and see if you think you too can be successful.
- We recommend reading Characteristics of Successful Entrepreneurs. For aspiring new entrepreneurs, it's a must read article.
- Seek the advice of somebody who knows you well. 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.
What Business Are You Starting?
Choosing a business that is right for you is very important. If you are struggling with what type of business to start, read How to Evaluate a Business Idea.
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 How to Start an Animal Registration & Identification Services guide or our Starting a Warehouse Leasing Business guide.
Remember that you are opening your new business in Brooklyn. If Brooklyn already has plenty of the kind of business you want to start, you might want to change your plans. Don't forget to review Brooklyn demographics to see if there's a market for what you want to sell.
Brooklyn, Michigan Demographic Information
Brooklyn has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Brooklyn demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Brooklyn.
Businesses
As a new Brooklyn entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Brooklyn 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 Brooklyn Business?
We've created a handy website page for those who want to Buy a Business in Michigan. Follow that link and you may find several good businesses for sale in Brooklyn.
For anybody who wants to buy a business, we recommend reading this useful article: Hold Harmless Agreements When Buying Businesses.
Company Formation in Brooklyn, Michigan
A critical step is ensuring that you are forming a legal entity that operates independently from you. 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 pick from many company types, such as a corporation, LLC, sole proprietorship, partnership or other structure.
Incorporating 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. Just because you are starting a business in Michigan, it doesn't mean you are required to incorporate in Michigan. As it turns out, you can incorporate wherever you want. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.
There's a lot to know about forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as C Corp Versus S Corp. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Brooklyn, Michigan, our web page covering Incorporating in Michigan may be a useful resource if you decide to incorporate in Michigan.
Raising Capital for Your Venture
Obtaining startup financing for your Brooklyn business is a difficult chore. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.
To learn about raising money, we recommend you read the fundraising articles on our site, such as Business Credit Evaluation.
For Brooklyn entrepreneurs with great ambition but a shortage of investment capital, check out our List of Michigan Angel Investors and our List of Michigan Venture Capital Firms.
Never Give Up
You have a dream -- starting a business in Brooklyn. To achieve your dream, you have to persevere, even when the odds are against you.
Owning your own business will be a daunting task, but you can do it.
We are here to help Brooklyn businesses to be successful. We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.
More Entrepreneurial Resources for Starting a Business in Brooklyn, Michigan
Here are more links that we believe will help you be successful in starting a business in Brooklyn.
- Resources for Brooklyn, Michigan Entrepreneurs - Browse a variety of resources we've collected to assist Brooklyn 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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