- Need Help?
(888) 943-1497 firstname.lastname@example.org
Along with a number of other US Government agencies, the Small Business Administration provides help for female entrepreneurs who want to start and grow a business of their own. The organization is committed to assisting women who are economically and/or locally challenged by providing them with a broad range of comprehensive counseling and training in a wide array of subject areas and topics.
For many individuals, the excitement and reward of starting up and operating their own business can be overly tempting because of the numerous advantages that exist. As an aspiring entrepreneur, making a living by being your own boss, doing something you enjoy, and setting your own schedule would be a ‘dream come true’. Unfortunately, it’s a dream that oftentimes fails to become reality. In addition to involving a lot of creativity and extensive planning, it takes a considerable amount of hard work.
What Type of Business will you own?
It’s important to determine what type of business you want to own and operate. The following suggestions will help:
- Make a list of your skills
- Think about your hobbies and interests
- Start a business based on your primary skills and talents
- Determine whether or not there is a demand or need for your type of business
- Search the internet and research home business opportunities as well as businesses that are similar to yours
- Visit forums that have discussions about your type of business
- Narrow your search down to 2 or 3 options
- Choose the one that best addresses your needs as well as your skills
Remember, it is extremely important that you think about the type of business you want to be involved in considering this could be a lifetime endeavor.
10 Steps to Starting Your Business
Certain resources provided by the SBA have enabled many female business owners to succeed in their endeavors. From initially registering your business to hiring your very first employee, the SBA can assist you from the start-up phase through expansion and growth. The following are 10 steps for starting a business:
- Write up a business plan
- Get assistance and training for owning and operating your own business
- Carefully select a location for your business
- Apply and get approved for business financing
- Decide how you want your business to be legally structured
- Register your business name i.e., DBA (Doing Business As)
- Contact the IRS and get your tax ID number
- Register with your local and state tax boards
- Obtain the required business licenses and operating permits
- Learn and understand your responsibilities as an employer
For additional information on women-owned businesses as well as the resources that are available, visit the SBA website page for Women-Owned Businesses