Utah Business Startup Guides
Opening a Business in Magna, Utah
Contemplating starting a business in Magna, Utah? We walk you through the process of opening a business in Magna.
Are You Ready for Life as an Owner?
Most new businesses fail, in part because the entrepreneur did not have the perseverance and abilities that are necessary 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:
- Talk to other entrepreneurs in Magna. 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.
Magna, Utah Demographic Information
Magna has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Magna demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Magna.
As a new Magna entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Magna 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.
Selecting a Name For Your Venture
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.
Company names need to be easy to spell, easy to pronounce, and easy to remember.
For other considerations regarding naming a company, we recommend this article: Naming a Company.
As a final piece of advice, remember that because you are planning on starting a business in Magna, it's imperative that you check now that your company name has not already been claimed by another Utah business.
Where to Get Money to Start a Company
Raising money to fund your new Magna business is very difficult due to the ongoing business credit crunch. In fact, financing your new business may be the hardest challenge you ever face.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Getting a Small Business Loan.
Marketing Your New Startup
To rise above the crowd in Magna and accelerate your business, having an excellent marketing plan is fundamental to your doing well.
You can learn all about marketing on our site. Comparing Advertising to PR 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.
Improving Your Entrepreneurial Skillset
Good business owners know that they don't know everything.
As an entrepreneur who lives in Magna, Utah, you should get information on some of the learning programs at local Utah educational institutions. You should also check if there are any networking groups or organizations in which Magna entrepreneurs get together to network and trade their business experiences.
Never Give Up
Most new Magna 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 Magna and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Magna, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Magna, Utah
Here are more links that we believe will help you be successful in starting a business in Magna.
- Resources for Magna, Utah Entrepreneurs - Browse a variety of resources we've collected to assist Magna entrepreneurs.
- Utah Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Utah.
- Utah Small Business Development Center - The Utah Small Business Development Centers will lead the way in entrepreneurial education, advocacy, and business development statewide.
Starting-a-Business Guides for Other Cities in Utah
Share this article
Additional Resources for Entrepreneurs