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Starting your first small business requires a lot of steps that you might not fully understand. The US Small Business Association, however, offers numerous tools that can help you create and manage your small business successfully. Before you try to start a business on your own, you should learn more about how the SBA can help you.
Small Business Loans and Grants
Starting a business requires capital. It isn’t easy to find low-interest capital that meets the specific needs of small business owners. That is why the SBA has several loan programs that are designed to meet long-term and short-term lending needs. The SBA can also help you research grant opportunities that are right for your business.
Writing a Business Plan
Before you can get funding from an outside source such as bank or investment capital firm, you will need a professionally written business plan that shows how you can turn your ideas into a successful business. The SBA offers advice on how to write your own business plan. That way, you can save money without compromising your investment opportunities.
Finding a Mentor
If you don’t have any business management experience or you are unsure whether you should try to start your own business, then use the SBA to help you find a mentor that can help you make important decisions. A mentor can help you avoid common mistakes so that you can profit sooner than other people starting their first businesses.
Have you used the SBA to make your business more successful? What tools worked best for you?