Starting a new business can have a variety of challenges such as developing a sales strategy or obtaining funding to fulfill startup requirements. Many times new entrepreneurs who have good ideas but have little business experience will need help with the legal process of business formation . One new business accelerator in Michigan is attempting to provide new businesses with all of these needs as well as many other benefits.
The new business accelerator, known as Coolhouse Labs, specializes in assisting small businesses with business planning and development. Coolhouse Labs also provides assistance with social media, marketing and obtaining startup capital. The new service just recently finalized its first round of funding for technology startup businesses this past summer.
Coolhouse Labs provided entrepreneurs with a summer workshop program designed at further developing their ideas and business planning. The workshop also assisted in helping obtain startup funding and ultimately initiating business operations. One new company which Coolhouse Labs worked with is a virtual marketplace designed to connect entrepreneurs with various services, such as web development, commonly required by startup businesses.
However, one of the most important aspects of planning for business formation is making sure one's business plans and operations conforms with applicable rules and regulations. Failure to do this could cause future legal problems which could include fines from regulatory agencies as well as civil lawsuits. New business owners in Michigan should also ensure that all required legal contracts are properly drafted to fully protect the new startup company's assets and business interests.
Source: Northwest Michigan's Second Wave, Northern Michigan's Coolhouse Labs helps startups from all over the country , Kim Eggleston, Oct. 22, 2013