Starting A Small Business
  1. Starting A Small Business: Introduction
  2. Starting A Small Business: Choosing Your Business
  3. Starting A Small Business: Financing Your Business
  4. Starting A Small Business: Business Structures
  5. Starting A Small Business: Making The Leap
  6. Starting A Small Business: Location And Licenses
  7. Starting A Small Business: Hiring Employees
  8. Starting A Small Business: Taxes
  9. Starting A Small Business: Record Keeping
  10. Starting A Small Business: Conclusion

Starting A Small Business: Introduction

By Amy Fontinelle

Why do people start a small business? Some want to spend more time with family, and starting a business allows them to do that. Some find it exhausting to be outside the house all day, dealing with traffic, co-workers, meetings and interruptions. Some people hate answering to a boss all the time- needing permission to schedule a dentist appointment or take the day off when they're sick. Some people are unmotivated by the security of a regular paycheck and prefer the challenge of the direct rewards or losses that entrepreneurs see from their efforts.

Maybe you want to build an empire and become famous, or create a wealth-generation machine that you can pass on to your children. Or perhaps you can't convince anyone to recognize your unique vision and you've decided that it will never come to fruition unless you strike out on your own. Or maybe you're thinking of self-employment because you've been unemployed for so long that you feel that you've exhausted all the other options.

Becoming a small business owner has unique challenges and rewards that aren't right for everyone. You must be driven, disciplined and able to identify a product or service that people need - one that they will pay enough for to allow you to live comfortably. You have to develop marketing skills and be able to find your own work, because it won't fall into your lap until after you're well established. Business owners need to understand how to budget, keep records and handle small business taxes. They must familiarize themselves with employment laws if they want to hire staff. They also need a plan for protecting their business and everything that's tied to it if something goes wrong. (For more, see Are You An Entrepreneur?)

In this tutorial on starting a small business, we'll address all these issues and more.

Starting A Small Business: Choosing Your Business

  1. Starting A Small Business: Introduction
  2. Starting A Small Business: Choosing Your Business
  3. Starting A Small Business: Financing Your Business
  4. Starting A Small Business: Business Structures
  5. Starting A Small Business: Making The Leap
  6. Starting A Small Business: Location And Licenses
  7. Starting A Small Business: Hiring Employees
  8. Starting A Small Business: Taxes
  9. Starting A Small Business: Record Keeping
  10. Starting A Small Business: Conclusion
RELATED TERMS
  1. Venture Philanthropy

    The application or redirection of principles of traditional venture ...
  2. Entrepreneur

    An individual who, rather than working as an employee, runs a ...
  3. Operating Cost

    Expenses associated with the maintenance and administration of ...
  4. Venture Capitalist

    An investor who either provides capital to startup ventures or ...
  5. Enterprise Investment Scheme (EIS)

    A UK program that helps smaller, riskier companies to raise capital ...
  6. Per Transaction Fees

    An expense a business must pay each time it processes a customer’s ...
RELATED FAQS
  1. What are some of the disadvantages to taking venture capital?

    Learn how financing a business through venture capital can be a viable source of funding for small businesses but know caveats ... Read Answer >>
  2. What's the difference between the income effect and the price effect?

    Learn what the price effect is and how it is related to consumer spending. Learn what two components make up the price effect ... Read Answer >>
  3. When the Federal Reserve Bank engaged in Quantitative Easing, did it add to M1?

    Learn how quantitative easing affects the money supply and what banks do when quantitative easing is in effect. Find out ... Read Answer >>
  4. Is there a way to invest in the income effect?

    Learn how to invest in the income effect. Explore the possible sectors where the income effect results in higher earnings ... Read Answer >>
  5. How can small businesses manufacture demand?

    Create demand for a small business product or service by focusing on the brand and market. Continue to learn offer excellent ... Read Answer >>
  6. What risks does an entrepreneur face?

    Find out if you have what it takes to overcome the challenges and risks associated with starting a business and becoming ... Read Answer >>

You May Also Like

Trading Center