B. OVERVIEW OF SMALL BUSINESS 1.03 Acquire information to guide business decision-making 1.03 What is the value of obtaining business start-up information ? (The logos used in this PowerPoint were copied directly from corporate websites. They have not been altered in any way.)

The importance of seeking assistance Most entrepreneurs do not possess ALL skills and knowledge necessary to run a successful business. Many forms of support and assistance are available to entrepreneurs from government agencies and private professionals What is the value of obtaining business start-up information ?

Why do we ask?  Start-up information can help answer WHO, WHAT, WHY, HOW, and WHEN  Obtaining start-up information will help develop a road map/blueprint for your business and your potential success  Developing a plan of action is the FIRST step!

Business Start-up Questions  Who is going to purchase your product or service?  Are there already products or services which your customer base would purchase if you offered them?  Is anyone else producing your product or offering a similar service?  Look at the industry - is it a growth industry or is it in decline?

Business Start-up Questions  Look at pricing locally & nationally – are you able to price competitively?  What licenses may be required in order to operate your business?  What will the cost of advertising and supplies be?  Payment of taxes – Are there any Out of the ordinary fees, tariffs, or taxes?

Federal Resources Small Business Administration (SBA) Service Corps of Retired Executives (SCORE) Small Business Institute (SBI)

Federal Resources U.S. Department of Commerce Federal Trade Commission (FTC) Internal Revenue Service (IRS)

Federal/State Resource Small Business Development Center (SBDC)

State Resources Department of Development (DOD) Workers’ Compensation Board The State Department of Labor

State Resources The State Department of Agriculture and Consumer Protection Division The Office of the Secretary of State

State Resources The State Department of Agriculture and Consumer Protection Division The State Sales and Use Tax Division

Local/community Resources Chambers of Commerce

Local/community Resources Colleges, universities, and technical schools Licensing and Permit Offices County Health Departments County Extension Services

Professional Services Attorneys Accountants Insurance agents