Steps How to Start a small

Business
 Determine if you are ready
Assess whether you are ready and
your business skills.
Assess your business idea

 The only way you can know if

your business idea is going to
work is by undertaking market
research.
 Build your business plan
 A well prepared business plan can save
time and money in the long run and help
you secure funding.
 Choose your business structure
 Once you have established the viability of
your business idea, you will need to decide
on the structure that best suits your business
and its particular circumstances.
Check your legal obligations
There are legal obligations
associated with starting a business
including licenses, registrations,
taxation and insurance.
 Build your support team
It is advisable to surround yourself with trusted
and reliable advisers who can help you with
start-up issues and then assist you as your
business develops.
 Figure out your finances

An important part of running

a small business is
understanding how to set up
and manage your finances.
 Market your business
You need to get out and spread the
word about your product or service to
the right people to generate business.
Enumerate the steps on
how to start a small
business. Write in a 1/4
sheet of paper.
Assignment:
Pick one business category from
your answers earlier and create
your own business name using it.
Write in a ¼ piece of paper and
pass it next meeting.