- List the steps to follow for starting a business
- Understand the steps necessary for starting a business
- List the components of a business plan
- Understand each component of a business plan
10 Step Plan
The Small Business Association’s (SBA) 10 Step Guide to Starting a Small Business includes the following action items, with links to the associated detail page.
- Conduct market research
- Write your business plan
- Fund your business
- Pick your business location
- Choose a business structure
- Choose your business name
- Register your business
- Obtain federal and state tax IDs
- Apply for state licenses and permits
- Open a business bank account
The IRS website contains a section for small businesses and is the source of federal action items, including requesting employer IDs and accessing tax forms and publications. For state-specific guidelines, you can use the IRS’ State Government Websites page as a jumping-off point. Your city or county may have additional requirements; refer to the relevant site for any permit or licensing requirements.
The nonprofit small business education and mentoring organization SCORE is another source of start-up information including a Simple Steps for Starting Your Business workbook, online course, and additional resources and webinars. Visit SCORE’s website if you want to learn more. Finally, your city or county may have an economic development program that provides business planning expertise, relevant economic data, and access to funding.