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

Why start a small business? Some people 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 you’ve exhausted all 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
Related Articles
  1. Small Business

    How Starting A Business at 40+ Is Different

    Pluses and maybes to consider before you leap – or before you dig yourself deeper into the hole where you’ve landed.
  2. Small Business

    Start Your Own Small Business

    Quit your job, be your own boss and earn a paycheck. Find out what to do to make it happen.
  3. Small Business

    5 Biggest Challenges Facing Your Small Business

    Thinking about starting your own business? Read this article to get a leg up on what you could face.
  4. Taxes

    7 Strategies Small Business Owners Should Know

    Use these techniques to make your business stand out from the pack and thrive.
  5. Small Business

    How to Reduce Risks In Small Business

    Small business owners have better tools to control risk than ever before, making the whole concept of running your own business a little less daunting.
  6. Small Business

    5 Tips for Starting a Business Later in Life

    Starting a business later in life can be lucrative, but takes careful planning and thought.
  7. Small Business

    5 Small Business Ideas With Big Potential

    Here are five businesses almost anyone can start their own and grow as they gain experience.
  8. Personal Finance

    Financial Planning for the Self Employed

    Here's how small business owners can plan for retirement and make sure they are properly insured.
Frequently Asked Questions
  1. What different kinds of shares can Public Limited Company (PLC) issue?

    Learn what a public limited company (PLC) is, and find out all of the various types of stock shares offered by PLCs in the ...
  2. Systemic versus systematic risk: What's the difference?

    Systemic risk generally refers to an event that can trigger a collapse in a certain industry or economy as systematic risk ...
  3. What is the best way to save for private school expenses? A 529 plan, a Coverdell ESA, or a mutual fund?

    The Coverdell Education Savings Account (ESA), tax-deferred and potentially tax-free, is optimal when saving for private ...
  4. When are mutual fund orders executed?

    Discover when and how mutual fund shares are bought and sold each day. Find out how price is determined, and when the trades ...
Trading Center