I want to start a business.........?

Question

I have a great business idea, and would like to know how to go about starting a business. Like how can i write a grant or are there anyspecial programs for minorities or women or first time business owners in general and in my area(near chicago,illinois). I would like to provide a service for my community while providing a college fund for my children with the money i hope to earn. ANY HELP WOULD BE HIGHLY APPRECIATED.

Answer 1

Contact your local SBA office (www.sba.gov) and find out where they offer SCORE counseling. SCORE (www.score.org) stands for Service Corps of Retired Executives. It's made up of -- you guessed it -- retired businesspeople who volunteer to help small businesspeople with their entrepreneurial endeavors.

They can help you write a business plan, look for funding (loans, mainly, as there aren't really a lot of "grants" available for for-profit businesses... grants are for non-profit activities), and get your business started.

There may be additional resources in your local area, and I suspect the SBA office would be the best central location to find out about them.

Good luck bringing your idea to life!

Answer 2

One of the most important things in starting your own business is to first create a business plan. This is essentially a document that details specifcally your business idea and how you plan to get it to fruition.

This is an excellent starting point for any business as firstly, it forces you really think about and analyse your business idea from many angles and secondly it is a working document which you can update when the need arises or changes to your plan occur or you find new opportunites which you did not see before. Lastly, this document is essential if you seek an grants, financial assistance or bank financing.

Answer 3

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.

Research, research, research – this cannot be stressed enough. Read as much as you can. Here are some book titles that are relevant:

* How to Really Start Your Own Business, Fourth Edition by David E. Gumpert
* How to Really Create a Successful Business Plan: Step-by-Step Guide by David E. Gumpert
* What No One Ever Tells You about Starting Your Own Business: Real-Life Start-Up Advice from 101 Successful Entrepreneurs (What No One Ever Tells You About Starting Your Own Business) by Jan Norman
* Business Start-Up Kit by Steven D. Strauss
* Start Your Own Business (Entrepreneur Magazine's Start Up) by Rieva Lesonsky

* Small Business Savvy: A Woman's Guide to Building a Business by Norma J. Rist, Katina Z. Jones
* The Woman's Advantage: 20 Women Entrepreneurs Show You What It Takes to Grow Your Business by Mary Cantando
* The Women's Business Resource Guide by Barbara Littman
* Powertools for Women in Business: 10 Ways to Succeed in Life and Work by Aliza Sherman

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 4

It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business. And yes, grants mean PAPERWORK - lots and lots of it, that is why a cottage industry of grant writers was born.

Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.

Even if you buy books on "how to get grants" or list that supposedly has information on grants -- all of them are mere rehash of what CFDA has, albeit packaged differently. But still the info is the same - hardly any grants for starting a for profit business.

Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/expanding/grants.html...

"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."

Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business -- THERE'S NONE.
http://12.46.245.173/pls/portal30/CATALOG.FUNCTIONAL_PROGRAM_TXT_RPT.SHOW?p_arg_names=func_cat_cd&p_arg_values=BK

Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program

Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs

For private grants, you may want to check the Foundation Center's Foundation Grants for Individuals Online. It's a subscription based website ($9.95 per month) but their opening blurb only says that the database is ideal for "students, artists, academic researchers, libraries and financial aid offices." Entrepreneurs are apparently not one of them, so I take it they also don't have listings of private foundations who give grants to would-be entrepreneurs.

Answer 5

I advocate you learn "Skip College: Go Into Business for Yourself." It's an e book, and the hyperlink is connected. There are plenty of examples given, and approaches to maintain it practical. You are without doubt historic adequate to begin your possess trade, however you obviously desire a plan. You additionally have got to discover whatever you are passionate approximately - you can be much more likely to experience it, and much more likely to make a well residing. Also, don't forget that you can by no means pass unsuitable serving to different humans make THEIR goals come real.