What are the first steps towards starting a new business?

Answer 1

In the US, the best start is with the Small Business Administration. Their web site has a great deal of information, and links to a great deal more. They also have seminars and counselors and people who can help you organize your thinking and your paperwork.

One of the first steps is what is called a "business plan," and I took an all-day seminar in how to write one for a small fee (may have been as much as $25) sponsored by the SBA at our local community college, and it was really very helpful.

It made the point that starting a new business is a very complicated procedure that really does need a central document, this business plan, to be well-organized. This is the thing you give to potential sources of funding, such as banks or rich relatives.