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Establishing a small business

            When starting a business there are many things to take into consideration. Making a business plan is the first and very important step. Then you'll need different sources of financing to begin your business. You also want to know the advantages and disadvantages to the sources of funds. Laws or other legal issues you mite be faced with when starting your business. The last thing is issues that married couples face in the start up and operation of a family business. .
             The purpose of a business plan is like any other plans you make in life. Plans are to ensure and think out exactly what you want to do and how it's going to get accomplished. Without a plan it probably be like walking blind. This is an essential first step because if you are planning to get an Small Business Administatration (SBA) loan you are required to have a business plan. Having a business plan will help you in many ways such as arranging agreement with certain partners for certain areas or projects. Also for helping plan and define what steps you must take to accomplish certain projects. Besides will you remember everything you need to do if you do in your head or write it on a piece of paper.
             Some of the sources of financing which are recomemded to use when starting a business. Some are Traditional sources which tend to be Banks, savings and loans, commercial finance companies and the SBA. Family members and friends are other finance sources that could be used. Venture Capital is one type of finance source you mite want to use if it's difficult to get a bank loan. Venture Capital focuses on future profits of a business and uses past performance as a primary criteria. Another would be Asset Base Financing where a lender accepts as collateral the assets of a company in exchange for a loan. Other types of sources of finance are long term dept, and line of credit. One that I didn't think would be a source of finance but now see that it could.


Essays Related to Establishing a small business

1. Measurements of a Small Business

Abstract The major focus of this study was defining small businesses and determining standards that can be used when establishing a small business. ... Small Business Administration. ... In the United States the Small Business Administration establishes small business size standards on an industry-by-industry basis, but usually stipulates a small business as having fewer than 250 workers for developed businesses and fewer than $7 million in yearly receipts for most non –manufacturing businesses. ... The purpose of this study is to provide key material concerning small businesses and the...

  • Word Count: 2644
  • Approx Pages: 11

2. Small Business Establishment, Development, and Management

Small businesses key to success is the implementation of a plan. ... (Small Business Association [SBA], p. 1) The development of a business plan is critical for outside funding agencies. The business plan is a resume for a small business. There are various funding sources available to small businesses. ... (p. 43 para. 1) The legal aspect of business is just a small portion of the overall picture of a business. ...

  • Word Count: 855
  • Approx Pages: 3
  • Has Bibliography
  • Grade Level: High School

3. Small Businesses and Entrepreneurship

To answer this challenging question, one must compare both entrepreneurs to small business managers or owners and entrepreneurial ventures to small businesses. One must also ascertain the meanings of the terms, entrepreneur and small business owner. ... Under this definition, a small business owner could definitely be classed as an entrepreneur, as anyone who runs and owns their own business is taking risks with their finances every day of trading. ... By this, he meant that an entrepreneur goes about their business and becomes successful by creating new ways of carrying out established proces...

  • Word Count: 624
  • Approx Pages: 2
  • Grade Level: Undergraduate

4. The HUBZone Empowerment Contracting Program

The HUBZone Empowerment Contracting Program's intent is to stimulate economic development and employment in urban and rural communities by establishing contracting preference standards and employment opportunities for small business concerns that are located in and persons that reside in "historically underutilized business zones" better known as "HUBZones". Small business concerns will have the opportunity to negotiate sole source contracts and participate in restricted competition limited to small business concerns in the program. ... This means that offers of HUBZone small business c...

  • Word Count: 805
  • Approx Pages: 3
  • Has Bibliography
  • Grade Level: Undergraduate

5. Family Business Succession Guide

To define the meaning of family business, will be used the following definition: "a family business is a business governed and/or managed with the intention to shape and pursue the vision of the business held by a dominant coalition controlled by members of the same family or a small number of families in a manner that is potentially sustainable across generations of the family or families" (Massis, Chua, and Chrisman). ... The company establishes goals and objectives, which means they develop a collective vision, goals and objectives for the business. ... The organization establishes a d...

  • Word Count: 1366
  • Approx Pages: 5
  • Has Bibliography
  • Grade Level: Undergraduate

6. Business

Introduction to Business Business plays a major role within our society. ... This business cycle explains how business fluctuates from high to low prosperity, recession, depression and recovery over time. ... A businesses environment creates many opportunities as well as problems for prospering businesses. ... When a business learns to adapt to these changes, it will be profitable for both the business and consumers. ... They are often expensive to establish and complex to run because they are strictly regulated by the government. ...

  • Word Count: 3843
  • Approx Pages: 15
  • Grade Level: High School

7. Small Firm Use Of Leverage

Abstract Prior research and anecdotal evidence suggests that women-owned small businesses use less debt than men. ... A number of studies have compared the capital structures of small businesses to those of larger firms to demonstrate small business' dependence on debt financing. ... As a further consideration, small businesses are more prone to financial distress and failure. ... Small Business Administration. ... Over four thousand small businesses were interviewed by telephone. ...

  • Word Count: 10494
  • Approx Pages: 42
  • Grade Level: High School

8. EU Single Market and International Business

International business development The active development of international businesses begun in early 90th, at the same time when EU finally established Single Market. ... Most of all can benefit the small international businesses or the one which are aiming the international market. EU Single Market stimulated competition therefore the prices lowered and many small companies established. ... Direct example is when an international business establishes its production in one European country but distributes it all over Europe. ... Therefore development of production inside the EU is very unstabl...

  • Word Count: 1276
  • Approx Pages: 5
  • Has Bibliography
  • Grade Level: Undergraduate

9. Current Career - Coffee Shop

Small Business Administration, "there are approximately 25 million small businesses in (this) country."" This accounts for a large number of jobs in our economy, and without small business, which accounts for nearly one half of our country's employment, we would lose a huge portion of our trade and industry (NASE, 2003, Small Business as the Engine of Economic Growth, 1 and 2). ... As stated on the NASE web site: (NASE, 2003, The Mainstreaming of Entrepreneurism and Small Business, 3). ... The business I joined was already established; the menu already in place, and the food excellent,...

  • Word Count: 1541
  • Approx Pages: 6
  • Grade Level: High School

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