Research the process
Planning, launching, and running a business is a lot of work. Review the necessary steps required to start a business.
Connect with a small business consultant
Building a relationship with a small business consultant can be a crucial step in your journey as an entrepreneur. The Minneapolis Business Technical Assistance Program (B-TAP) is able to connect you to business training, support, and advice for opening your business.
Write a business plan
Starting a business can be expensive. You will need to have enough money to run your business for at least the first several months without relying on a profit. Using calculations from your business plan, determine how much capital you will need to start to ensure your business will start and run successfully.
Secure financing for your business
Connect with a lender from a community bank, credit union, or Community Development Financial Institution.
Determine if you qualify for any of the City’s financing resources
Lenders will want to see that you have some initial capital invested in your business before underwriting a loan.