Why Business Investment in Minnesota is a Clever Move
Nestled in the Midwestern part of the United States is Minnesota- a vibrant and prosperous state comprised of over 5,400,000 people, 60% of which live in the Minneapolis- Saint Paul metropolitan area. The latter, also known as the “Twin Cities” is the grand center where everything and everyone come to thrive- government, businesses, education, transportation, culture and a an international arts community that the state takes much pride in.
The populace is a diverse and dynamic one with an enthusiasm for political participation, making the state rating high in voter turnout. Majority of the population are professionals between 25- 54 years old that are involved in various fields such as finance, business, medicine, law, education, government, and the arts. They work within energetic environments that are conducive for a healthy competition and a strong appetite for success.
Economy of Minnesota
It is therefore not surprising that entrepreneurs with exceptional vision eye business opportunities in Minnesota. Considering the economic stability and the variety in entrepreneurial fields present in the state, one could expect starting a business or look into the existing businesses for sale to be a thrill. In 2014, Minnesota’s economy has yielded US$312 billion of gross domestic product and is expected to grow before the year ends. According to a 2011 report, the state serves as a headquarters for 31 publicly traded companies out of the 1000 top U.S. companies in terms of revenue including United Health Group and Target.
Minnesota has a self-motivated and goal oriented work force that knows how to seek opportunities for themselves, making them excellent employers and employees. There are exceptional potential business successes to be found in this golden state. Many firms and brokers make it easy for businessmen to find the ideal business to acquire with numerous Minnesota based businesses for sale out in the market.
Whether one is looking into buying an existing tax firm or being passionate in running a quaint café, Minnesota offers a lot of exciting business ventures to get involved in. Among these are:
- Tax firms
- Retail companies
- Insurance companies
- Real estate companies
- Technology/ Information Technology companies
- Sporting goods businesses
- Agricultural production, manufacturing and supplies
- Warehouse and commercial properties
- Branding, marketing and advertising firms
- Pizza parlors, fine dining restaurants, sports grills, bars, lounges, clubs
- Newspaper publications and other publishing houses
- Micro financing and trade companies
- Organic products manufacturing and merchandising
- Recycling companies
- Excavation businesses
- Metro theater complexes and shopping malls
- Food businesses (ice cream shops, food stalls, food halls)
- Liquor stores, winery, and convenience stores
- Beauty salons, tanning salons, and spas
- Gyms and wellness centers
- Beauty brand companies
- Pet stores and pet salons
- Printing shops and graphic design businesses
- Events management and modeling agencies
- House cleaning and repair services
- Manpower providers
- Travel agencies
- Hotels, motels, apartments, condominiums and assisted living businesses
These are, of course, just a few of the many other businesses for sale in Minnesota that could be ideal for expansion, rebranding or management overhaul, depending on careful entrepreneurial analysis.
Owning a Minnesota-based Business
Aside from the many entrepreneurial opportunities available, acquiring businesses in Minnesota is not complicated because the state itself welcomes investors. In fact, even from the prospecting process, the government and the private sector already offer assistance through various organizations and consultancies such as the US Small Business Administration, Minnesota Small Business Assistance Office, Better Business Bureau of Minnesota and various consultancy firms and private brokers.
The next step would be to determine the business structure for one’s new venture. This naturally requires a few bureaucratic processes and formalities but as Minnesota has an open government, the whole experience does not have to be tedious and exasperating. One might need an accountant or a lawyer which Minnesota also has quite a lot of.
Upon going through the initial processes of formalizing business acquisition, a few licenses and other requirements may be needed but again, assistance is always readily available for a smooth turnover.
When one is ready to finally head an exciting new enterprise, a dynamic and solid team will be needed and Minnesota has quite a lot of intelligent, creative and driven individuals that could take the venture to extraordinary places. Starting very small is not bad at all. Minnesota welcomes start ups and small enterprises as there is always a certain market for all kinds of businesses. The bottom line is that the state is simply an ideal place to operate a business because it provides an atmosphere that encourages profitability, growth, creativity and innovation. Deciding to own a business in Minnesota may just be the most clever decision yet.
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