Small Business Information

Discover How You Can Start Making Your Small Business Dream Come True


As a teenager I worked for my father's small business. At 18 I worked for a small video rental business owned by two partners; there were 4 employees. At 23 I worked for an auto body shop, the owner was from Greece; there were 8 employees. At 25 I became CEO of my family's small business; we have 15 employees. Today, I own a 3-employee automotive repair shop; an online business; a promotional licensing business and I still consult for my family's business.

Today working in large firms with hundreds of employees or even 50 employees is rare. Like most people I grew up around small business and worked in small business. The transition to a business of my own seemed a natural progression. The time has never been better to get your feet wet. Small business is booming.

Consider these facts from the U.S. Bureau of the Census:

· 23 million small businesses in the U.S.; 75% of which have no employees

· Small businesses represent 99.7% of all employer firms

· Small businesses employ half of all private sector

employees

· 44.3% of U.S. private payroll is paid by small businesses

· 60%-80% of all new job created annually are by small businesses

Today, small business is the standard.

If you've ever dreamed of owning or starting your own business, clearly the climate has never been better. But making your dream come true takes a few key strategies.

First, before starting any endeavor, do your research, education is the single most important factor to a successful new business. If no one wants your product or if no market exists for your service you will spin your wheels trying to survive.

Know your market, who are they? Does your product or service exist? If so, how can you make it better? What is your competitive edge? What are your competitors doing?

If your service or product doesn't exist, why should it? This is a tough question but if you cannot justify the purpose of your product or service and the need it fills how will you find customers?

The next step is planning. What will you need? How will you get started? What is your first step?

When I'm looking to start a new endeavor, I jot down the goal and then write down each and every task I can think of that will need to be accomplished in order to achieve the goal. Organize all those items into an Action Plan and then get started, one step at a time.

Getting started is probably the most difficult step. We all have fear of the unknown. You need only one ability or skill? courage. Take the step, even if you feel like you're falling from a tall building. I promise once you get started, you'll wonder why you didn't do so before.

Execution is where all the research and planning pay off. You've made your marketing plan; now just take it one step at a time. Keep at it. Even if your first marketing tactic works, keep at each and every one. If you send out 100 fliers and start getting customers, do not stop. Follow through on the next mailer or article. You must continue executing your marketing plan; this tactic will ensure long- term success.

Clearly it has never been a better time to start a small business. There are millions of small businesses out there; you are not alone. Seek out others for support. Start small to get your feet wet and start accumulating accomplishments. With small businesses creating 50% of the gross domestic product you can't go wrong.

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MORE RESOURCES:

USA Today

Republican senator to back Obama small business plan
Reuters
Voinovich, who decided not to run for re-election in Ohio, said he would support the small business package in an interview published in Friday's Washington ...
Obama Urges Congress to Pass Small Business AidBloomberg
Obama urges GOP to let small business bill passThe Associated Press
Voinovich a Yes on Small Business, Giving It the Votes For PassageThe Washington Independent
The Hill (blog) -Seattle Post Intelligencer (blog) -USA Today
all 1,848 news articles »


MyFox Philadelphia

Proposed Tax Breaks Helpful for Small Business?
Reuters
The problem with the small business tax breaks is two-fold: small businesses are incredibly diverse in their craft, and consequently, no single break works ...
Small Business to Obama: Tax Cuts Won't WorkWall Street Journal (blog)
Do SMBs Want Obama Tax Breaks or Fewer Barriers to Business?MSPmentor
Obama's Small Business Incentive PlansMyFox Philadelphia
CNNMoney -Shopfloor -Learning and Finance (blog)
all 74 news articles »


Reuters India

President makes case for his tax plan; urges passage of small-business bill
MarketWatch
The promotion comes as Obama answered questions about the economy, small-business legislation, health care, consumer protection and the Middle East, ...
Wonkbook: Goolsbee to head CEA, Voinovich backs small business aid; yuan(na ...Washington Post (blog)
Obama names Goolsbee to head economic councilWashington Post

all 518 news articles »


InDinero makes small business finances a snap
CNNMoney
... staff reporterSeptember 10, 2010: 12:40 PM ET NEW YORK (CNNMoney.com) -- Managing financial data is often a nightmare for small business owners. ...

and more »


If taxes on rich go up, would small business suffer?
MiamiHerald.com
Republicans are backed by a vocal chorus of small business owners, a formidable lobby on Capitol Hill. "Part of the reason businesses aren't spending now is ...

and more »



Think Small Business Is Job Engine? Think Again
Wall Street Journal (blog)
One economic adage is that small businesses generate the bulk of all US jobs. It's a rule of thumb often cited by politicians. ...



Columbus Dispatch

Here, There, Everywhere a Small Business Tax Cut
Firedoglake (blog)
I want to know who was the genius in the White House who thought it was a good idea to pass around a press release touting the “eight small business tax ...
FACT SHEET: President Obama Has Signed Eight Small Business Tax Cuts Into Law ...Whitehouse.gov (press release)
Senate plans vote on small business bill next weekThe Grand Rapids Press - MLive.com
Tax Foundation: Tax Hike Would Hurt Small Firms, EconomyWall Street Journal (blog)

all 68 news articles »


eCreditDaily.com

IRS Offers Small Business Guide to Tax Audits
Reuters
When the tax man comes knocking at the door of a small business, the visitor can cause an owner to go dizzy with questions ...
Small business gets peek at health care tax credit formKnoxville News Sentinel
Draft Form for Small Business Health Insurance Credit ReleasedJournal of Accountancy
5 Expensive New Business MistakesSan Francisco Chronicle

all 45 news articles »


Chamber announces small business awards
Boston Globe
"Cedar's Mediterranean Foods will receive the 'Business Excellence Award,' and Joanne Chang, pastry chef and owner of Flour Bakery & Café, will be honored ...


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