507-553-6371

Departments

Starting a Business

Most businesses start out small. The Economic Development Authority is here to assist you in your endeavor. Here you will find information and links to resources to find out everything you need to know to start your small business.

If you have any questions you can always contact city hall at (507) 553-6371.

Q: Does the Wells Economic Development Authority offer financial assistance?
A. Yes! The Wells EDA has a Revolving Loan Fund and an Enhancement and Demolition Grant which can be utilized by local businesses.
 
Q: Do I need a license to operate a business in Wells?
A: Potentially. Licenses are required to engage in certain businesses. To find out if your specific business needs a license you can view Title XI of City Ordinances here (http://www.amlegal.com/wells_mn/) or contact the Community Development Office with your questions. A license is required to engage in a home business occupation. To obtain a Home Occupation license please contact the Community Development Office.

Q: How do I get an Employer Identification Number?
A: To get a federal Id number you can apply online at: http://www.irs.gov/businesses/small/article/0,,id=102767,00.html
To get a Minnesota Id Number apply online at: https://www.mndor.state.mn.us/er/ctrl/WelcomeController

Q. How do I Incorporate and register my business name in Minnesota?
A: First, check to make sure the name you want to register is not already in use by searching here: http://da.sos.state.mn.us/minnesota/corp_inquiry-find.asp?:Norder_item_type_id=9&sm=6 Once you have the name you want to use you can incorporate by utilizing the MN Secretary of State website: http://www.sos.state.mn.us/index.aspx?page=172

Q: Where can I get help with the formation, management, financing and operation of my business?
A: The MN DEED Small Business Development Center is here to help with all of these questions. View the contact information for our local Small Business Development Center here: http://www.mnsbdc.com/AreaRegion9.htm.

Q: What do I need to know about taxes for my small business?
A: You can learn all about small business taxes on the federal level here http://www.irs.gov/businesses/small/article/0,,id=99336,00.html and on the state level here http://www.taxes.state.mn.us/taxes/business_taxpayers/business_education/mbeguide.shtml

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