Entrepreneurship in Montana

Montana natives have discovered a few life saving inventions, including the first heart monitor. Invented in 1949 by Helena native Norman Holter, it revolutionized the health landscape. It's no wonder so many great entrepreneurs have come from Montana.

With people like Tim Sheehy (founder of Bridger Aerospace), and Neal Leather (one of the founders of Big Sky Brewing) to look up to, the people of Montana love to lead entrepreneurial teams that change the world.

Home to the bustling city of Bozeman and Yellowstone National Park, the big sky state is a great place to start your small business.

Registering Your Business

Registering your business is one of the first steps to success.

And with Montana’s 70 dollar fee for starting an LLC, it's important you get it right.

Decide what kind of model is right for you (LLP, LLC, Corporation, Sole Proprietorship). Most small businesses start with an LLC. If you’d like an LLC, S-Corp, or C-Corp done for you, we’d be happy to do that on your behalf.

Click here to learn more.

Market Analysis

Before you start your business, look around to understand the market in Montana.

With an abundance of rich natural resources, Montana has a ton of business potential.

According to TaxFoundation.org, Montana ranks an awesome 3rd in the sales tax rank.

Competitor Analysis

Another good way to understand Montana’s market is to visit your local Chambers of Commerce.

Chambers of Commerce

You can use your local chamber of commerce to identify opportunities and threats in your local community. It’s a great way to get started on the bottom 2 quadrants of your SWOT analysis.

We’d recommend looking through it and identifying competitors in your industry, and identify the points of parity you need to live up to, and how to better leverage your points of differentiation.

Labor Statistics

Montana is full of hard working people that can be amazing assets to your company.

Unemployment rate in Montana:

2.8%

Information from Montana.gov

Average annual salary in Montana:

56,575 dollars

27.20 dollars an hour

Information from Zip Recruiter

Education levels for residents of 25 and older:

High school degree or higher:

94%

Bachelor degree or higher:

32%

Information from World Population Review

Housing Market

Price index yearly growth: 23.22%

Medium house price: 230,600 dollars

National average house price: 269,039 dollars

General Advice

Montana is a unique place to start a business. We hope that the resources and points we brought up here will help you start a business there.

If you’d like to dive deeper into how to start a business, check out our much longer article How To Start A Business. Use both of them to get started on the right foot from day one.

Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest.

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