Opening a Small Business: Post #2

Opening a Small Business: Post #2

    Last week, I discussed some Pros and Cons of Owning a Small Business. This week, I would like to discuss the process of opening a Small Business.

 Steps:

Step 1: Have a plan

• You do not want to wing it, having a plan is crucial for your sucess
• Also important to have contingencies

Step 2: Acquire Funds

• You can acquire funds by getting Investments, Loans, Crowdfunding, or personal funds

Step 3: Get Appropriate Federal/State/Local Permits      

• Depending on what your business is, you might have to get additional Permits
• Getting the Permits might require inspection, or other requirements

Step 4: Pick a Location

• You can own the land, property, or rent out your business, depending on your funds and or needs

Step 5: Open your Business

• Unless you are very lucky, you have to get the word out somehow. Advertising is your best bet.

Source:

• Small Business Administration. (n.d.). Retrieved April 13, 2023, from https://www.sba.gov/business-guide/10-steps-start-your-business