Metz 1

Tausha Metz

Nate Hellmer

English 1201

7/19/21

Literature Review:

There are a lot of Pros and Cons to starting your own small business as the

article says: “ https://exchangemarketplace.com/blog/owning-a-business”.

While being your own boss defiantly has its own appeal, make your own

hours and using your creativity are at the top of the perks list. With flexibility

also comes being a self-starter and commitment to see you goals through,

which takes patience and commitment. While most businesses will not be a

success overnight and some can even take years to fully develop. “The Small

Business Bible: Everything you need to know to Succeed in Your Small

Business”. I found to be very helpful, what I liked first off was the

Entrepreneurs Quiz. This quiz helps you decide if being an Entrepreneur is

right for you or at least a jumping off point of perhaps where your weaknesses

are located in business. This book also gives you step by step instruction on

how to begin to build a business from even the most basic first steps. As well
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as how to protect yourself and your family from law suites and such. Common

business mistakes business’s make and how to avoid them. A few of the things

the book recommends is talking to business owners who have similar

business’s and looking into local small business support groups. I was

surprised to learn that one of the things the book recommends is to work in the

type business you want to open for six months or so, get an insider look at how

its run.

Laura Stacy of Stacy’s Flooring a local business owner and a friend and over

the years and more recently we’ve had discussions about being a small

business owner and one that is located in a small town as well. What she found

was that for years they (her husband and son) worked on their business prior to

ever opening a store front and with help of family and friends and great word

of mouth they were able to move into a store front which only helped the

business grow. Having a showroom in flooring is essential. She still goes back

to word of mouth is the best advertisement there is and it’s FREE!

Now depending o the size of the business and where you want to

start with it whether or not you need a retail space or storage room or

can simply do a drop ship business all of it boils down to how much
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money you will need and how much savings you have to sustain you. Do

you want to look for Grants or Small Business Loans? Borrow from a

family member or friend, I do recommend a contract to make sure

everything is spelled out exactly the way you both agree to. There are

several sites that can help with grants and loans that you know are legit

here is the government site I used. https://www.sba.gov/business-

guide/grow-your-business/women-owned-businesses. Here are sites that

I used to research Funding and Grants for Women.

https://www.fundera.com/blog/small-business-grants-for-women.,

https://www.fundera.com/blog/small-business-grants-for-women. So

these sites some have different requirement such as type of business.

There is so much different types just start narrowing down what your

after because some you will not qualify for. Despite all that has

happened with the past year with the Pandemic and business of all sizes

struggling to survive It was amazing to learn that it is actually a good

time to start a business in 2021. There were several business’s have

closed up shop due t the Pandemic, so less competition. There also is

less competition when applying for Grants and Loans. Rental space and
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Real Estate for purchase available and perhaps depending on location

get a better deal on rent.

https://www.forbes.com/sites/forbesbusinesscouncil/2021/01/13/entrepre

neurs-heres-why-2021-is-the-right-time-to-start-your-new-business/?

sh=22e2c99829a3,

https://www.forbes.com/sites/forbesbusinesscouncil/2021/01/13/entrepre

neurs-heres-why-2021-is-the-right-time-to-start-your-new-business/?

sh=22e2c99829a3.