Steps to Start Your Business
How do you start a business in Michigan? First, choose a viable business idea that aligns with your interests and values. Conduct thorough market research to determine demand and potential competitors. Create a detailed business plan outlining your vision, startup costs, and growth projections.
Registering Your Business
The next step is to register your business with the state. You can form an LLC, corporation, or file for a "doing business as" name. Check name availability to ensure uniqueness. Learn naming rules for different entities. Reserving an LLC name costs $25 before submitting articles.
Standard business registration is $50, expedited filing is $100. Choose registered agents and draft organizational records.
Business Opportunities
Sustainable energy is a growing industry in Michigan. Consider solar, wind, biomass, or geothermal businesses. Online education also holds opportunities, with many local colleges offering online degrees.
Michigan’s Support Systems
Michigan provides robust small business support systems and incentives. It ranks high for affordable business costs. By properly registering, you set up legal protections, access benefits, and ensure compliance. This paves the way for long-term success.
Registration Details
What’s needed to start a business in Michigan? Elect or hire a registered agent. File forms and pay fees. Depending on your legal structure, you will need to file several forms (e.g., articles of organization) with the Michigan Department of Licensing and Regulatory Affairs (LARA). Get a Federal Employer Identification Number (FEIN or EIN).
Business Name Registration
To register a business name in Michigan, firstly, form an LLC or corporation, or file for a “doing business as” name.
For a different business name, file for a Michigan assumed name — also called a DBA name. Check name availability and learn naming rules.
Reserving an LLC name before submitting articles costs $25. Reserve a name by filing Form 540 for $25.
Standard business registration costs $50, rush filing costs $100. LLC names must contain "limited liability company" or a related acronym. Additional permits may be needed.