Michigan Business Startup Guides
Open a Business in Troy, Michigan
Need help starting a business in Troy, Michigan? We've got the information you need to open a business in Troy.
Troy, Michigan Demographic Information
Troy has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Troy demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Troy.
Businesses
As a new Troy entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Troy 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 Troy Business?
We've created a useful 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 Troy.
If you are headed down the path of buying a business, you may want to read this article: Buying a Business.
The Role of the Business Plan
Having a business plan is critical in maximizing the prospects of your new company. Indeed, a business plan describes what you plan to do with the business and how you plan to do it. Failure to write a business plan makes you more prone to becoming a business failure statistic.
To learn more about business plans, read Business Plan Outsourcing. A great resource for business planning assistance is the free counseling sessions provided by your local SCORE chapter in Michigan.
Raising Money for Your New Venture
Finding the funds to fuel the growth of your Troy business is not an easy task. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled 504 Loans.
For Troy entrepreneurs who want to raise money for a new venture, check out our List of Michigan Angel Investors and our List of Michigan Venture Capital Firms.
Getting the Word Out About Your New Company
To rise above the crowd in Troy and accelerate your business, you need a excellent marketing plan.
You can learn plenty about marketing on our site. Advertising on the Web discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. That's just a taste of the many useful articles we have on Marketing a Small Business.
The Art of Selling
Mastering the art of selling is a must if you want your new Troy business to do well.
Not knowing how to sell can result in lost customers and minimal market share. The good news is we can help you to make selling a big competitve advantage for your new firm.
Sales Prospecting is worth reading, as it may give you some good ideas on how to sell your products or services. We have many more good articles on selling that you may enjoy reading.
Learning More About Entrepreneurship
The best business owners recognize that they don't know everything.
As an entrepreneur who lives in Troy, 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 Troy networking organizations.
What's Next?
Most new Troy businesses underestimate the number of challenges they will face.
Owning your own business will be a daunting task, but you can do it.
Our goal here is to promote the vitality and growth of small businesses in Troy and throughout the United States . We want to be there for you to answer your business questions, whether you are a new Troy 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 Troy, Michigan
Here are more links that we believe will help you be successful in starting a business in Troy.
- Resources for Troy, Michigan Entrepreneurs - Browse a variety of resources we've collected to assist Troy 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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