Deciding to Start a Small Business
Starting and managing a small business can be a challenging and rewarding experience. In business, there are no guarantees. Getting involved with starting a new business can bring you face-to-face with challenges you have never experienced before. You can improve your chances of success by research, planning and preparation.
Do You Have the Right Idea?
The Missouri Small Business and Technology Development Center can help you evaluate your business idea to determine your potential for success before you spend time and money on a business plan.
Is it Right for You?
The U.S. Small Business Administration (SBA) provides some resources to help you decide if small business ownership is right for you.
Writing a Business Plan
A business plan serves as a road map to the future of your small business. A good business plan will help you secure financing and credit for your business, provide a guide for managing operations, finances, promotion and marketing and clarify goals and objectives.
So, do you have to do all of this planning alone? Absolutely not. One of the best ways to help insure success is to find and work with a mentor. See a listing of local organizations that provide advice and support for small businesses and entrepreneurs.
Deciding on a Business Structure
The type of legal structure you choose for your business is important. This decision affects how much you will pay in taxes, the amount of personal liability you may face and your ability to get financing. There are six typical structures for small businesses. To find out what they are and which is right for your business, check out these resources:
Registering Your Business in Missouri
Created a business entity? Obtained a federal identification number? Registered for required state taxes? Review these web sites to ensure that your business is in compliance with federal, state and local government regulations.
Locating Start-up Financing
All businesses require some form of financing. You need to decide how much your business will need and where you will get the money.
Selecting a Location for Your Business
Choosing the right location for your business can be a major factor in its success -- or not -- depending on the type of business, your customers' location and the kinds of facilities you need.
Buying a Business
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