Steps To Starting A Small Business
Most successfully businesses start with a good idea. This idea may be your own or may be drawn from any one of a number of available resources, including the following:
Business contacts and acquaintances.
- usiness magazines and newspapers: these often contain business success stories, how-to information for would-be small business owners, and lists of start-up opportunities.
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- pecial interest publications: sector-related publications keep entrepreneurs informed of developments in their area of interest.
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- rade shows.
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- adio, television and the Internet.
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- mport goods list: Reviewing a list of the goods imported into an area might provide clues on a wide variety of business opportunities in import replacement and supplier development. If products are not manufactured locally, find out why not.
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Trend Analysis: Watch for trends in population, consumer or corporate buying behaviour, government legislation, and other trends related to your business sector.
Existing inventions and innovations: Inquire at universities, trade schools and other research centers for opportunities to acquire technologies already developed.
- Government departments, agencies and programs: govt. departments and agencies are often committed to increasing the volume of federal government purchasing in their area of operation.
Departments and agencies offer studies and reports on business trends and opportunities. Boards of Trade and Chambers of Commerce also compile a number of business and investment opportunities.