The idea of starting a business seems exciting to many people, but it may not be the most financially sound idea or the best idea for everyone. If you are thinking of starting a business or about to open your own business, the US Small Business Administration has advice to help you along the way. The SBA has a few questions you can consider before you start your business and a step by step guide to getting the business off the ground.
SBA Step By Step Guide
The SBA has a list of 10 simple steps to help you get your business going. Some of the steps are easier than others. For example, you will probably want to dedicate a considerable amount of time to creating your business plan, which will serve as the backbone of your business and will be used to help you get funding and will help you plan a course of action.
If this is your first time starting a business, the SBA also recommends seeking out counseling or assistance. A trained business counselor will help you write an effective business plan and provide guidance about where to open your business. The counselor may also help you decide whether or not running a business is something you should do, given the circumstances in your region and other factors. In some areas, counseling for start-ups and other small businesses is available for free.
You’ll also need to find loans or other funding for your business and choose what type of corporation you want to have. The SBA has advice on picking the best type of business for your needs as well as advice on finding loans and tips on getting a loan.