How to start a small business? STEP-BY-STEP

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Starting a small business can seem intimidating, but it’s not impossible. Here’s what you need to do:
1. Do your research: Research the market, industry and competition to ensure that your business has an edge.
2. Write a business plan: A thorough plan will help you stay organized and motivated.
3. Choose a business structure: Decide on an LLC, partnership or sole proprietorship based on your goals.
4. Register your business: Register with the IRS and your state government as required.
5. Obtain licenses and permits: Fill out forms and complete any necessary applications.
6. Get funding: Apply for loans, grants, investor funding and other sources of capital.
7. Find a location: Examine local zoning regulations and find the right spot for your business.
8. Get insurance: Shop around for business insurance that meets your needs.
9. Purchase equipment and supplies: Invest in the technology and supplies you’ll need to get started.
10. Market your business: Create a website, use social media and spread the word about your business.
11. Hire employees: Recruit and train qualified staff members to help grow your business.
12. Take care of taxes: Stay on top of taxes and other legal requirements to stay in compliance.
13. Track progress and review performance: Monitor your progress and adjust as needed for optimal results.
14. Keep growing: Expand your offerings and reach new customers to increase sales.

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