Small Business Bulletin-January 2018

Small Business Bulletin

January 2018

In the News

Office space in former RyKrisp factory in Minneapolis

Former RyCrisp Factory in Minneapolis Transformed Into Haven for Entrepreneurs
Minneapolis Star Tribune-12/26/17

The same space where workers once made crackers is now a hive of mostly millennial entrepreneurs hustling to build their businesses. The rejiggered building, known as North Co., is an example of how work — and expectations for a middle-class livelihood — have changed in the past half-century. And the trend isn't occurring just in the Twin Cities. All across the country, rehabbed industrial space is drawing the millennial generation.


Small Business Administration Lending Increased in Minnesota Last Year
Finance and Commerce-12/1/17

Mark Meyer

In late September, Mark Meyer (right) and fiancee Deanna Morris acquired Blaine-based Artic Glass, a small commercial-glass business, with a loan from Anchor Bank in St. Paul. The Artic Glass financing was among 2,056 loans backed by the U.S. Small Business Administration in Minnesota from Oct. 1, 2016, to Sept. 30, 2017. The activity boosted Minnesota’s SBA District Office from 12th to 10th place out of 68 district offices nationwide in the number of loans approved in fiscal 2017.


Recent Press Releases

Grants Available to Help Employers Develop Apprenticeships

Employers are encouraged to apply for grants to create or expand registered apprenticeship programs in advanced manufacturing, agriculture, health care, information technology and transportation. Approved employers will receive funds to offset their costs related to program development, related instruction and supplies. Employers can receive up to $5,000 for each registered apprentice.


Guide to Starting a Business

Desktop image

The 2018 edition of “A Guide to Starting a Business in Minnesota” is now available from the Small Business Assistance Office at DEED. This popular guide, which is in its 36th edition and free of charge, provides a concise summary of the major issues faced by anyone starting a business in Minnesota. Free copies can be obtained in hard copy or on CD-ROM from the Small Business Assistance Office, First National Bank Building, 332 Minnesota St., Suite E-200, St. Paul, MN 55101-1351. Phone 651-259-7476 or 1-800 310-8323. The guide can also be found on the DEED website.


Did You Know?

Woman holding open sign for her business

Minnesota has the country's highest five-year survival rate for new businesses, according to the Bureau of Labor Statistics. Five years after launching, 57.4 percent of new businesses in the state were still operating. The five-year survival rate nationally is 50.2 percent.