Michigan Business Startup Guides
Opening a Business in Fenton, Michigan
Contemplating starting a business in Fenton, Michigan? We walk you through the process of opening a business in Fenton.
Will You Be a Good Entrepreneur?
Most startup businesses fail, in part because the founder did not have the perseverance and abilities that are necessary to succeed. So, before you open a business, consider all of the implications of being an entrepreneur.
To determine whether you have what it takes to run a business, we recommend these three steps to help you decide:
- Reach out to other entrepreneurs in Fenton. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
- Peruse Characteristics of Successful Entrepreneurs. This is one of our more popular articles for folks who want to go into business for themselves.
- Seek the advice of somebody who knows you well. Others sometimes know you better than you know yourself.
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 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 Opening a Heating Contractors Commercial & Industrial Business guide or our Starting a Scrap & Waste Materials Business guide.
Remember that you are starting a business in Fenton. Some businesses will do better in Fenton than others. Study Fenton demographics and do a competitive analysis as part of your startup planning process.
Fenton, Michigan Demographic Information
Fenton has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Fenton demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Fenton.
As a new Fenton entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Fenton 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.
Picking a Business 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.
We strongly advocate that you make sure the ".com" domain name is available for your company name. Every business needs a strong Web presence these days, and having a non ".com" domain means somebody else may outrank you in the search results for your own company name.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Branding Advice.
There's one other important factor when naming a business. Since you are planning on starting a business in Fenton, it's imperative that you check now that you will be the only Michigan company using the business name you have chosen.
Forming a Company in Fenton, Michigan
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Doing so will insulate you from personal liability for business debts and obligations.
The entity you form can be a corporation, LLC, sole proprietorship, partnership or other structure.
Incorporating is a very common way to legally create a business entity. Of course, you have to decide which type of corporation to form and where to incorporate. If 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 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 Subchapter S Corporations. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Fenton, Michigan, our information on Incorporating in Michigan may be a useful resource if you decide to incorporate in Michigan.
Letting the World Know You Exist
Whether your goal is to attract Fenton customers or you plan on selling elsewhere, having an excellent marketing plan is fundamental to your beating the competition.
We have some great resources on this site for entrepreneurs who are working on marketing plans. Pricing discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. That's just one of the many useful articles we have on Marketing a Small Business.
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 Fenton, Michigan, you will want to take advantage of the many programs available at nearby Michigan universities, colleges and community colleges. We also recommend you look into networking organizations for Fenton entrepreneurs.
Most new Fenton businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
Our goal here is to promote the vitality and growth of small businesses in Fenton and throughout the United States . We want to be there for you to answer your business questions, whether you are a new Fenton 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 Fenton, Michigan
Here are more links that we believe will help you be successful in starting a business in Fenton.
- Resources for Fenton, Michigan Entrepreneurs - Browse a variety of resources we've collected to assist Fenton 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.
More Startup Articles for Michigan Cities
Share this article
Additional Resources for Entrepreneurs