Starting a Business
There are many important decisions to make when starting a business and while there are no single sources available to fill all the requirements, we have provided (with the help of the Minnesota Secretary of State's office) a list of steps designed to help get you started.
Planning : Initial planning is critical to starting any business. The links below will provide you with information and guidance to help get you started:
- US Small Business Administration : Help with creating a business plan.
- MN Small Business Assistance Office : A variety of resources on starting a business in Minnesota.
- James J. Hill Business Reference Library : A free source to collect business information, tools, databases and resources to help your business succeed.
- SCORE : A volunteer organization of business executives offering free business counseling.
- Minnesota Council of Non-Profits : A resource for information in forming a Non-Profit Organization.
- Small Business Loan Calculator : A small business loan can help bridge the gap when you need to make capital investments, increase your workforce, or move to a larger space. This resource will help you determine what your loan will cost.
- Other Helpful Links : Provided by the Minnesota Office of the Secretary of State.
Business Structure :
Choosing the right business structure can make all the difference in the world when it comes to certain legal and tax implications. You may wish to consult with an attorney or accountant before making a determination of what type of business entity to form.
Accounting and Taxes For Your Business :
Many new business owners simply ignore or defer tax planning and often don't even think about it until it's time to meet with their accountant, but tax planning is an ongoing process and good tax advice is a valuable commodity. At a minimum, you should review your income and expenses monthly and meet with your accountant quarterly to make sure your business stays on track. In between visits to your accountant, review information from one of our trusted members to stay current with this ever-changing topic.