Thinking of starting a business in Minnesota? Here’s what you should know

Whether as a side business, or out of necessity, people in Minnesota are launching their own companies in record numbers.

The process can be daunting, so we talked to business owners and experts on key steps, from filing an application and getting necessary licenses or certifications to researching the market for your product or service and devising a business plan.

Keep in mind, lack of business knowledge, poor preparation and lack of capital are three of the main reasons businesses fail. Only 54.4% of businesses started in Minnesota in 2013 were still active in 2018, and 22.5% closed after the

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Minnesota business entrepreneurs, lawmakers urge swift action to refill jobless fund, avert payroll tax hike – Duluth Information Tribune

ST. PAUL — A minor more than a month out from a critical deadline to replenish the state’s unemployment fund, Minnesota business leaders and a bipartisan group of lawmakers on Monday, Feb. 7, urged a speedy settlement at the Capitol to reduce a tax hike for small business owners.

The dialogue arrives soon after an unprecedented selection of Minnesotans pulled down jobless rewards in 2020 and 2021 because of to the COVID-19 pandemic and state efforts to deal with it.

Approximately one particular in five Minnesota personnel applied for unemployment insurance policies given that March of 2020, per the Minnesota

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Despite pandemic, investments in Minnesota startups top $1B again in 2021

For the third consecutive year, investors committed more than $1 billion to rising and privately owned Minnesota startups, a sign the state’s entrepreneurs are still able to garner dollars from wealthy institutions and individuals amid an ongoing pandemic.

In 2021, venture capital-backed Minnesota companies raised $1.34 billion, down slightly from 2020’s $1.54 billion, but above 2019’s $1.2 billion, according to a recent report from Seattle-based investment data firm PitchBook and the National Venture Capital Association.

An increasing amount of deals and investors pouring money into the state’s fast-growing companies is essential for Minnesota’s economy to keep growing.

“We know entrepreneurship

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