Take The Plunge, Start Your Own Business

Government resources in plain English are getting better by the day thanks to the Obama Administration’s tech forward thinking.  Small Business Matters, an official blog community of the federal government’s Business.gov, provides great advice for those contemplating starting a small business:

Starting your own business may be one of the biggest risks you will take in your life – and the statistics confirm it. According to the Small Business Administration (SBA), two-thirds of new businesses survive for a minimum of two years, with only 44 percent surviving at least four years.

Yet, in good and bad times, the dream of being your own boss and pursuing a for-profit or non-profit business venture can be an enticing one. In fact, when the economy struggles, the number of non-employer small businesses tends to increase at a higher rate than the number of employer businesses (Source: SBA Small Business Advocate, July 2009).

But how do you make that dream a reality and take the plunge into the risky waters of small business ownership?

Small Business Matters suggests:

• Take this quick Small Business Start-Up Assessment from the SBA to help better understand your readiness for starting a small business.
• Fill out this checklist: “10 Steps to Starting a Business” – that guides you through the basic steps of planning, preparing and managing your new business.
• Get help on how to “Write a Business Plan” guide for small businesses
• Consider low-risk start-up options such as
  • Starting a Home-Based Business
  • Starting and Growing an Online Business
  • Start Part Time
  • Look for Recovery Act – SBA Loans

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