You had a great idea and created a business out of it! Congratulations! You took the initiative to form an entity, such as a corporation or limited liability company, to operate your business for a few good reasons. Not the least of which is to protect you, as a business owner, from being personally liable for the creditors of your business. So, you should be all set, right?
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 .
Recently, Wal-Mart has become one of the largest and fastest growing companies in the U.S. with locations all over the country. The corporation now has its eye on opening its latest location in a town in Michigan. The plans for the new location have been submitted and were set to be examined by a local business planning commission in the middle of April.
Many economists argue that recovery from the recent recession requires a stimulation of the economy through government programs aimed at creating jobs. Sometimes the problem is that start-up businesses are not able to find the funding they need to begin operations and, as a result, create more jobs. The Michigan Strategic Fund recently aimed to fix this problem when it awarded $1 million to create a new business incubator collaborative.