Michigan Business Startup Guides
Start a Business in Marion, Michigan
Are you starting a business in Marion, Michigan? This article discusses the most important things to consider when opening a business in Marion.
Are You Sure You Want to Do This?
Most startup businesses don't make it, in part because the business owner did not have the tenacity and/or the skills 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.
- Talk to other entrepreneurs in Marion. Ask them candidly what it's like to run a business.
- 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. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
What Business to Start
There are many businesses that you can start. How do you know which type of business is right for you? To stir your creative juices on what kind of business to start, take a look at Free Business Ideas.
To view an extensive list of business types, complete with startup instructions, spend some time in the Good Businesses to Start section of our site. For example, you might be interested in our How to Start a Prosthetic Breasts Business guide or our Opening a Smelters & Refiners Equipment & Supplies Business guide.
Remember that starting a business in Marion has some implications. Think about what needs are currently being underserved in Marion. Don't forget to review Marion demographics to see if there's a market for what you want to sell.
Marion, Michigan Demographic Information
Marion has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Marion demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Marion.
Businesses
As a new Marion entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Marion 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 Marion Business?
We've created a handy website page for those who want to Buy a Business in Michigan. Follow that link and you can assess several good businesses for sale in Marion.
For anybody who wants to buy a business, we recommend reading this useful article: Hold Harmless Agreements When Buying Businesses.
Forming a Company in Marion, Michigan
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Without a legal structure for the business, you can be held personally liable for the actions, debts and obligations of your company.
When forming a company, you will select one of many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation 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. If you are starting a business in Michigan, you don't necessarily have to incorporate in Michigan. In fact, you can incorporate in any state you would like to. 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. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Why Incorporate in Delaware. You may also want to seek the advice of an lawyer. On a final note, since you will be starting a business in Marion, Michigan, our web page covering Incorporating in Michigan may be a useful resource if you decide to incorporate in Michigan.
Raising Money for Your New Venture
Raising money to fund your new Marion business is a difficult chore. 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 Attracting Investors.
For Marion entrepreneurs who need startup capital, browse our List of Michigan Angel Investors and our List of Michigan Venture Capital Firms.
Learning More About Entrepreneurship
Successful business owners recognize that what they know now may not be enough to ensure their future success.
With your business being located in Marion, Michigan, you should check out some of the many programs available at nearby Michigan universities, colleges and community colleges. You should also check if there are any networking organizations for Marion entrepreneurs.
Next Steps
Most new Marion 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.
We are here to help Marion 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 Marion, Michigan
Here are more links that we believe will help you be successful in starting a business in Marion.
- Resources for Marion, Michigan Entrepreneurs - Browse a variety of resources we've collected to assist Marion 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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