Business Newsletter from the Office of the Minnesota Secretary of State

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Volume 2, Issue 5

Ocotober 2014

New Business Filings Up in First Three Quarters of 2014

In the first three quarters of 2014, there were 46,637 new entity filings with the Secretary of State — ahead of the 44,544 reported in the same period of 2013. Read the news.

2014 Second-Quarter Economic and Business Conditions Reports

The second in a series of Minnesota regional economic and business conditions reports, was issued October 15, developed by the St. Cloud State University School of Public Affairs Research Institute with the Office of Secretary of State. The reports analyze Minnesota on a regional basis with customized economic reviews and forecasts based on a comprehensive examination of several datasets, including business filings. Among the highlights of the report are regional maps that plot where new businesses have been registered over the past 14 years. The 2014 Third Quarter Reports will be issued later this year.

Annual Renewal Reminders

We remind all registered businesses and nonprofits that they must renew their filing by the end of each calendar year (December 31). For most businesses there is no charge. This can be done online or by mail. Businesses required to file include corporations, LLCs, limited partnerships, businesses operating under assumed names, and nonprofits. Failure to renew will result in dissolution.

Public Benefit Corporation Launch News Conference on January 2, 2015

All companies intending to file as a public benefit corporation are invited to join Secretary Ritchie on Friday, January 2, 2015, for a news conference to file as a b-corp. Contact Nathan Bowie at Nathan.bowie@state.mn.us if you are interested in participating and representing your b-corp at the event.

Promote the Vote

As the November 4 Election Day is two weeks away, our office asks businesses to encourage their employees to vote — and help maintain Minnesota’s national-leading status in voter turnout. Employers are required by Minnesota law to offer time off for employees to vote.

Our office has a range of nonpartisan materials available on our “Promote the Vote” webpage, including short videos:
• “It’s Election Year, Minnesota!” — provides overview of voting process.
• “Vote Early, Vote Absentee!”  — provides overview of voting absentee.

At mnvotes.org, voters can access all voter tools and information, find their polling place, view their sample ballot, and more.

Working with Veterans through Trust Vets

Trust Vets, a Minnesota-based company, makes it simple to seek out and conduct business with our military veterans. In addition to their online Directory of Veterans and social media presence, they also offer free monthly networking opportunities in Blaine, Burnsville and St. Louis Park. If you are a business professional who served in the Armed Forces, this is a great opportunity to create an immediate audience and impact for your business. Visit TrustVets.com for details.

BizVet Offers Free Business Law Assistance for Veterans, Military Service Members

The University of Minnesota Law School provides pro bono legal advice for veterans and service members who are setting up or managing a business. Typical services may include guidance in selecting the entity-type for a new business venture, and legal assistance in creating start-up documents, employment agreements, service contracts and more. For more information, visit BizVet at the University of Minnesota Law School website.

U.S. Commercial Service to Hold Healthcare and Medtech-Focused Export Event

U.S. Commercial Service will host a health-focused export event — Discover Global Markets: Healthcare and Life Sciences conference at the Radisson Blu in downtown Minneapolis on November 17–18. Representatives of Minnesota companies will learn about global healthcare opportunities from a variety of government and private sector speakers. Additionally, attendees may preschedule one-on-one meetings with commercial service specialists from 20 international markets.The conference will feature a keynote address from Omar Ishrak, Medtronic chairman and CEO, and a welcome from Minnesota 3rd District Congressman Erik Paulsen.

Border to Border Broadband Conference

The Blandin Foundation and Connect Minnesota will cohost Border to Border Broadband: No Community Left Behind, November 18–19 at Cragun’s Resort in Brainerd. At the conference, attendees will hear from community broadband champions, thought-leaders and policy-makers about how to advance broadband adoption and deployment throughout Minnesota. Attendees will learn about possible next steps for broadband expansion be it infrastructure or adoption. The conference will feature speakers from across Minnesota, policy updates from the state and national level, as well as practical how-to sessions.

In 2013, the division recorded more than 58,000 new business filings. For the 2014–2015 biennium, the division projects collecting $30 million in business filings and other fees which are deposited into the state’s general fund.