Recently, I've read a few articles about how entrepreneurship is losing its cachet among millennials. Really? I guess the authors of these articles have missed a real "boots on the ground" story in Detroit. I can attest that the entrepreneurial spirit is alive and well and even expanding into the practice of law.
A university is meant to be a place where new ideas and concepts are created and explored. One way this manifests is through the start-up companies which emerge from the business formation efforts of students applying what they learn to the real world. Michigan universities and colleges have recently been focused on the start-up scene, particularly in the technology sector.
In many types of musical genres, drums act as the backbone to the music. However, when starting a business, financing is the backbone of business formation . Start-up financing is what one entrepreneur is now looking for in his plan to start a new custom drum-making company. The 60-year-old entrepreneur has already started operating in a modest shop space in Michigan and is currently in the business planning process to expand the company.
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.
It is one thing for entrepreneurs to come up with a good idea which could become a profitable business, however it is another for a startup business to be both profitable as well as emphasize helping the community. One recent Pure Michigan Social Entrepreneurship Challenge focused on startup ideas with this emphasis. The winners of the challenge were awarded a total of $93,000 in venture capital in order to help initiate business planning and formation.
Starting a new business usually requires some type of start-up capital. However, many entrepreneurs do not have the necessary finances to jump start their own business ideas. Fortunately, for aspiring entrepreneurs in Michigan, the state has seen a dramatic rise in venture capital investors who are attracted to the entrepreneurial environment the state has to offer. This means many entrepreneurs will be able to complete their plans for business formation .
Scientists are passionate about their work and are tireless in their efforts in making new discoveries and inventions that could potentially benefit all of society. When a scientist makes an important discovery, he or she will probably want to make sure that all of the hard work does not go to waste. This is the case with an important new discovery made at the University of Michigan, which demonstrates that light can reverse oxidation of copper. The university is now looking to move forward with business planning in order to monetize this discovery.
Business thrives when it is supported by a strong surrounding infrastructure. Sometimes in order to obtain this necessary infrastructure a community will need the help of state and local government funds to improve the local area. Recently one community in Michigan was designated as a Michigan Main Street community, which means it now has access to approximately $250,000 in technical assistance to develop the community in order to make it more attractive to an entrepreneur to open a new business .
When large companies decide to open a business in a community, many times this will significantly increase economic activity within the local community. This can significantly help a local community jump-start its local economy while also adding more job opportunities for residents. Regal Entertainment Group is looking to do just that by opening a new business , a large stadium-style movie theater at a local mall in Michigan.
Scientific advancements have greatly benefited society in a variety of ways. Science has made life easier, while also providing lucrative business opportunities for others. Entrepreneurs who are able to find their specific niche may also be able to start a new business and capitalize on their innovative ideas with effective business planning . One man in Michigan decided to do this in 1991 with his research company that specializes in developing technology and engineering uses for hydrogen.