Question

Visit the Small Business Administration website at www.sba.gov (Links to an external site.)Links to an external site..   There are valuable resources here for anyone starting a business.   Investigate the topics under the “Starting and Managing” menu. Discuss at least two topics a potential business owner should know/investigate prior to start up.

Answer 1

The main object of the small business administration is to protect the interest of small business.

The main role of small business administration is that the small business receives full financial support of the government.

It is not easy for the small enterpreneurs to start the small business independently. For this to make it easier the small business adminsitration site has mentioned the various guidelines to start the business:

These are as follows:

1.First of all the small business enterpreneur should have a business plan.

2.The emterpreneurs must know that there are various training centres from which they can get the guidance for a new start-up.

3.Once the business plan is decided then the location of business should be decided.

4.To make the business run smoothly finance is very important factor. There are various options like debt financing , equity , bank loan etc.

5.Decide the structure of the bsuiness.The tax laibilities basically depends upon the bsuiness stucture.

6. Registration of of the business. Whether to register it is as a company or partnership?

7.Registration with the tax departments like income taxes, sales tax in order to fullfill the statutory compliance.

8.Getting the liscence in order to operate without any default.

The following two topics out of the abobe points have been discussed in detailed:

1.BUSINESS PLAN: One of the major point to start a new business .

Before setting up a stat up it is very much required for a business enterpreneur that in which direction he has to move? I

t is very necessary to design a vision or a mission map before statrting the bsuiness.

If the objective or the goal would not be cleared then the bsuiness enterpreneur can get success and growth.

The bsuiness plan basically guides what type of business the enterpreneur wants to start.

Also it helps in formulation the startegies , plan and goals and directs to take actions for the same in order to get the same successfully implemented.

2.BUSINESS LISCENCES: It is very much needed for a business enetrpreneur to get the business liscence.

Get the bsuiness liscence helps the business enetrpreneur to take care of the safety of the general public and their health.

It in general means that you take the responsibility of yur bsuiness activities.

Without liscence you cannot file returns and cannot get regsitration process completed.

While completing the documentation process in registration the basic thing required is the business liscence.

It helps to improve credibility in the market.