frequently asked questions about small business - gennglobal
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“FREQUENTLY ASKED QUESTIONS ABOUT SMALL BUSINESS”
Being an entrepreneur or a small business owner is no walk in the park.
Unlike conventional business jobs in a large corporation, entrepreneurs are accountable only to themselves (since they are their own bosses) and therefore must find their motivation, determination, and strategic brilliance all from within.
This might cause one to wonder: how do they make the magic happen?
Next, we’ll answer a few frequently asked questions of small business owners and entrepreneurs!
INTRODUCTION
If I want to start my own small business, what should I do first?
All good things first start with a great idea! Start a business that you’d actually like to run—though make sure your concept is reasonable.
Next, try polling local business owners who are in the same industry that you’d like to be in, as well as people you’d target as potential customers.
The goal here is to gain as much information as you can before diving in and creating your business.
SMALL BUSINESS FAQS
What kinds of permits and licenses will I need?This will vary greatly based on where you are doing
business (city, country, etc.) and what type of business you are in (you’ll have more restrictions if you house potentially hazardous materials, for example).
However, here are a few permits and licenses you can expect to have to acquire: Business license Fire department permit Air and water pollution control permit, as well as other
permits and regulations designed to sustain the environment County, state, or federal business licenses Sales tax license
SMALL BUSINESS FAQS
Why do I need to have a business plan?There are two main reasons why you’ll need a
business plan: to organise your business with some form of structure during your early days, and to attract potential investors who can allow your business to grow and flourish.
Your business plan will include details about who is responsible for what in your business, how your money is made, and how much growth you can expect in a given period of time.
SMALL BUSINESS FAQS