Business Small Business

How To Open a Small Business

Introduction

A lot of Americans dream of starting a small business, a business at home. After all, it would provide them with a great deal of independence and the ability to be creative, which is something that working for an employer does not afford. Fortunately, it can be very easy to start a small business a if you follow these important steps.

Step 1

Decide whether you will start an online or offline business. Generally it is easier to start an online business because there will be fewer overhead costs. Yet, you will have to create an online presence, start a website and keep up with your competition. Otherwise, you will need to lease some space for your business or designate an area within your home from which you will be able to work on your business. After all, you will need somewhere to keep all of you various supplies, materials, records and correspondence.

Step 2

Once you decide what type of small business a you will have and where it will be located, it’s time to choose a business name. This name should reflect the nature of your business so that customers will know what to expect. It also must be a name that isn’t already being used by a small business a because it has to be registered. Usually this is easy and doesn’t cost a whole lot of money to do.

Step 3

Now, you must apply for all of the relevant licenses that your small business a will need. You will need to call your local government to find more information about this. It is also important to decide at this time whether your small business a will be a proprietorship, partnership, corporation or LLC (limited liability company). An attorney will be able to advise you which of these entities is right for a small business.

Step 4

The last thing you will need to do is create a business plan. This should also include a marketing plan for your business. It is essential to have this in writing before you ever open your business. If you don’t feel as though you can write this yourself, hire someone to do it for you. Your business plan must include both your marketing and your financial plan. It must also outline your business’ goals and the details of how you are going to go about achieving these goals. Remember that your business plan isn’t something that you will simply write one time. You are going to need to update your business plan and revise it on an as needed basis throughout the life of your business.

Step 5

You are now ready to start advertising your small business, a at home or out in the world. This is a very important part of your small business a. In fact, it is the key to your success. Even when you have a steady customer base you will need to continue to promote your business in order to bring in even more clients. So, this is something that really will never end and thus you should do your best to master it.

By Brenda Hoffman, published at 02/16/2012
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