New Business Minnesota is a unique publication designed to deliver information about essential resources to every startup business at a time when they are most in need and most receptive — during the first five months after registering with the state.

Every month 8,000 entrepreneurs receive New Business Minnesota and its custom content targeting the needs of early startup businesses.Every month 2,000 fresh startups replace older ones.

Each new business will receive all four issues of New Business Minnesota.96,000 impressions per year, guaranteeing your message will reach every new business in the Twin Cities four times....100% coverage.

Talk to the founder of just about any startup company and you'll find a hint of Rodney Dangerfield just below the surface.

Entrepreneurs are celebrated and even revered as icons of the great American spirit of striving individualism. Let me clarify, entrepreneurs with a proven record of success are revered. When Bill Gates was 19 years old and starting Microsoft, few people could see past his teenage complexion. No one could imagine what he would accomplish. He wasn't revered until later....billions later.

Unfortunately, startups don't get the respect they deserve. Maybe it's because of the myth that most fail in the first year. The truth is that upwards of 85 percent survive the first year and beyond.

You've probably encountered some form of this disrespect already. Maybe it's a doubting supplier that offers cash-only terms. Or it's some business professionals who won't take on clients who haven't been around at least two years.

One of the reasons we started New Business Minnesota is that we saw an opportunity to serve this overlooked and under-appreciated market. We saw enormous potential.

Numerous studies in recent years identify the same thing, including a recent one from the SBA Office of Advocacy.

Hold onto your laptop, the SBA has identified startups as not just important, but as vital to economic development.

The importance of new business formation to state economies is outlined in the SBA's study: "Small Business and State Growth: An Econometric Investigation." This is from the executive summary:

"Small firm establishment births have a larger impact than any other factor examined on GSP (Gross State Product), SPI (State Personal Income), and total state employment....

The authors conclude that this general finding reveals that state efforts to promote small business formation will be more fruitful in terms of generating economic growth than virtually any other policy option in our models."

Let's take a look at the impact you are having toward building a better Minnesota.

In 2004, the Gross State Product (GSP) was $225.6 billion. If small business births increase by 5 percent, as they study suggest, GSP would increase by 0.465 percent or $1.05 billion.

The report continued:

"Our general finding is that states have few options in this area for enhancing GSP, SPI, and employment growth rates.

"Instead, our results indicate that the most fruitful policy option available to state governments is to establish maintain a fertile environment for new establishment formation. Every one of our models indicates that states with more new small firm establishments grow at a higher rate over time, even after we control for the level of economic activity and a variety of other factors."

The thousands of new business that start up each month do matter. New businesses are a serious source of growth in income and employment. The more research I come across about new business formation continually confirms the value of startup entrepreneurship to the economy.

We're not the only ones to recognize that. Look to the advertisers in New Business Minnesota if you're seeking resources that won't treat you like Rodney Dangerfield. They are Certified Startup Friendly. You'll get the respect you deserve and the support you need to grow you enterprise.

As you strive to get your businesses established, you will face hardships and you will wonder if the strain, pain and sacrifice are worth it. The answer is Hell Yes! Remember, the state of Minnesota is counting on you.

Patrick Boulay
Publisher

More Blogs from New Business Minnesota Publisher
Patrick Boulay:

Entrepreneurs are Remarkably Common
New Business Formation Research
Wait! Minnesota is a Great Place for Business!
What a Difference a Different Study Makes

What you'll find in
New Business Minnesota

Essential Reading — Twin Cities Business Newspapers, Magazines, Web Sites. They're not all the same. Which should your read?

What to Join — Chambers of Commerce that are eager to welcome startups. What they have to offer. Startup friendly associations.

Networking — Great places to meet new customers, new resources, kindred spirits and mentors.

Showing Off — Where to get a booth to show what you got.

Relationship Banking — Top Startup Friendly Banks, Credit Unions, ones that really want to reach out and help.

Looking Large — Small Businesses don't have to look that way: Design, printing, brochures, public relations, web design.

Taking the Numb out of Numbers —
Accountants you can count on and who eagerly embrace startups.

Finding Customers — Direct mail, advertising, telemarketing, sales help. This is what it's all about.