Business Start-Up Guidelines


Owning a business is the dream of many Americans. Starting that business converts your dream into reality. Running a business of your own will bring a sense of independence and an opportunity to use your own ideas. You will be boss. You can't be fired. You will have a chance for higher income because you can collect a salary plus a profit or return on your investment. You will experience a pride in ownership and you can achieve the great satisfaction of building a valuable investment for which there will be a market.

By being your own boss you can adopt new ideas quickly. Since your enterprise will undoubtedly be a small business - at least in the beginning - you will have no large unwieldy organization to retain each time you want to try something new. And you can quickly drop any ideas that do not work.

Owning and operating a small business is a wonderful idea, but there are many things to consider. The US Small Business Administration says that over half of all new businesses fail within five years. If you own a small business, you will work more than forty hours per week. If you have employees, you will have a payroll to meet. You must always have the money to pay creditors. You will be responsible for your own health insurance, retirement plan, and may go without a vacation for some time. You will be responsible for all final decisions. You must withstand adverse conditions caused by circumstances beyond your control, such as depressed economic conditions or strong competition.

You can succeed as a small business owner with hard work and a strong desire for success. You must have strong confidence in your ability to succeed. Careful planning is also essential. The following pages contain information to get you headed in the right direction. They contain telephone numbers and addresses you need concerning taxes, licenses, permits, regulations, and miscellaneous items. There are also organizations listed that can provide you with counseling and guidance in the important steps to starting your business. You will also find the Laurens County Chamber of Commerce Small Business Resource Group, a network of Chamber members willing to assist you with legal, financial, and benefit issues.

Good luck with your pursuit of owning your own business.