by Greg Heslin
http://www.Work-From-Home-123.com
©
2008
In today's job market, more and more individuals are
deciding to start their own small businesses. Small businesses account for forty-five
percent of the U.S.'s private income and employ nearly half of all private sector
employees. These businesses are also responsible for providing sixty to eighty
percent of new jobs every year. According to the Office of Advocacy, there are
currently 26.8 million businesses in the U.S. with small businesses representing
99.9 percent of these businesses. Small businesses produce thirteen times more
patents than their larger competitors in terms of employees and are twice as likely
to have their patents be in the small one percent cited each year. These businesses
have a two-thirds survival rate of at least two years, with forty-four percent
surviving of over four years. With these statistics, there is no wonder the number
of small businesses is steadily on the rise.
Due to the
number of opportunities, those people who feel they have a good idea for a small
business are looking for advice and tips on how to become one of the successful
ventures. The U.S. Small Business Administration (SBA) provides helpful resources
to those individuals wishing to start a small business. Their suggestions on how
to start a business are detailed in their website. They first suggest writing
a business plan that serves as a guide stating how to build a successful business
and stepsto follow. After completing a business plan, the SBA suggests several
steps to take in order to be successful, including finding a mentor, choosing
the proper business structure, getting the proper licenses and permits, and selecting
a location. Along with this suggested plan, the SBA also offers various resources
and tools that can help build a better small business. These resources include
access to libraries, monthly web chats, necessary forms, and locations of helpful
resources in specific areas. The site also provides helpful services to use once
the business is established that include financial assistance, contracts, disaster
assistance, listings of laws and regulations, as well as online training to further
education.
Once a business plan is created and the location
is set, the owners will need to register the business. The Central Contractor
Registration (CCR) is the primary source for individuals wanting to legally register
their small businesses. Individuals should complete the Small Business Supplemental
Page, which will then give the ability to award contracts and other agreements.
Once they register, individuals will have access to all other vendors and can
search companies based on size, location, abilities, etc. Owners should become
familiar with all of the rules and regulations that pertain to them depending
on the size of the business and the number of employees they have.
Since
starting a small business can be a daunting and stressful task, there are organizations
designed to help these individuals in any way they can. SCORE is a helpful organization
that counsels individuals wishing to start a small business in the U.S. They offer
various planning kits that lead to bigger profits and a better business plan.
Their business tools section offers free resources that teach individuals the
basics needed for small businesses as well as financial tools to help manage income.
SCORE also has examples of forms like the nondisclosure statement and a twelve
month sales forecast that help people organize and run their businesses more effectively.
Another
helpful organization is HUBZone, which specializes in helping businesses in underutilized
zones. They have certain standards that businesses must meet, but they help significantly
with the start and success of a small business.
Although
starting a small business takes a lot of work, there are numerous benefits to
joining the market. With its high number of success rates, starting a small business
is even better today. If individuals are able to set up a business plan and fulfill
all of the government requirements, they have a good shot at starting a successful
business.
