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Plans Setting Up Small Business Operations: Write it Down!

If you don’t make written plans, setting up small business operations will be like taking a shot in the dark.

 

 

Plans Setting Up Small Business Operations

by Trish Williams

Plans Setting Up Small Business Operations

Have you decided to take control of your career and job situation and start your own business? Striking out on one’s own means making plans setting up small business operations. These plans should include a written document known as a business plan, obtaining the necessary licenses to make your business legitimate, and finding proper funding. Plans setting up small business operations are the focus of the Small Business Administration. Be sure to check with them for specific information on what your city and state require from you when you start a small business.

Plans setting up small business operations: The Business Plan

The business plan is the backbone of the thought concept behind any small business. Plans setting up small business operations must be written, documented and understood by those involved as owners, whether the business is a partnership or corporation. Even independent contractors might do well to have their own business plan.

“Despite the critical importance of a business plan, many entrepreneurs drag their feet when it comes to preparing a written document. They argue that their marketplace changes too fast for a business plan to be useful or that they just don't have enough time. But just as a builder won't begin construction without a blueprint, eager business owners shouldn't rush into new ventures without a business plan,” reports the Small Business Administration.

If you don’t make written plans, setting up small business operations will be like taking a shot in the dark.

Plans setting up small business operations: Obtaining necessary licenses

After newly formed, small organizations create their business plans, setting up small business operations means checking into obtaining necessary state licenses and meeting all required city codes. As mentioned above, the Small Business Administration in your city can help you with information on the types of licenses you’ll need. Some of these may include getting an occupational license, also known as a business license. Also, filling out a Fictitious Name Statement may be required. As you’re making your plans, setting up small business operations is something most bankers can help you with as well. When it comes to obtaining licenses, you may need to pay a fee and file several forms. If you’re uncertain about how to fill out the forms, ask a lot of questions, and if possible, hire a lawyer and accountant.

Plans setting up small business operations: Finding Proper Funding

Many great ideas for small businesses never get off the ground because the owner didn’t have enough money to start the business. In today’s economic market, there are many ways to fund a business. Plans setting up small business operations simply mean finding the right source of funding for your business. Once again, check with your banker about loan programs for small businesses. Also, consider a private investor or checking into venture capital that might be available in your area. Perhaps even obtaining a grant might be feasible, depending on what type of business you’re starting.

Plans setting up small business operations can seem like a challenge, but in the long run, doing your homework and getting all the paperwork done in the beginning, will save you headaches in the end.

Trish Williams is a freelance writer and marketing consultant who has published numerous articles in magazines and newspapers across the country. She also works on web design, web content, graphics, promotions and copywriting.

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