Starting a business from scratch

You have a great idea for a business and you want to begin. Where do you start? We've discussed the advantages and disadvantages of starting a business from scratch. Be aware that a large percentage of new businesses fail. You need to be honest with yourself in evaluating whether you have the right personality for taking on a project of this sort.

The most important thing you can do to prepare for your business is to develop a thorough business plan. With this plan you will be able to see the strengths and weaknesses of your business and make decisions accordingly. It is helpful at this point to get some professional assistance, someone who can look at your business plan objectively and provide ideas and insights. Organizations that provide free or low-cost assistance are available in most areas.

After investigating the needs of your business, it is necessary to take care of the groundwork which includes the legal structure, business name, location, licenses, permits, financing, and other requirements. Go through the checklist to make sure you've considered all the main tasks in starting your business.

This document was prepared by the San Joaquin Delta College Small Business Development Center. Send comments to: Gillian Murphy

Acknowledgements, disclaimers, etc.