to download the fact sheet. - Young Invincibles

FACT SHEET • JUNE 2012
Ever fantasize about doing what you love? Stop dreaming and start doing! Great
entrepreneurs build businesses doing what they love and so can you.
How to Start a Business
GETTING STARTED
The first thing you need to do when starting a business is to start with a great idea. It could
be something that you are good at doing or something you’ve been thinking of doing for a
while. When you challenge your mind to continue thinking of ways to make everyday tasks
easier or more enjoyable, you’ll be surprised how fast and frequently ideas come to you.
» You can find a full set of instructions on business models and plans on how to start
up your own business: http://www.sba.gov/category/navigation-structure/startingmanaging-business/starting-business
» Learn how to identify a market need, write a business plan, and set up a new business
venture at: http://www.inc.com/guides/start_biz
Write a Business Plan
A business plan is a roadmap for business success and is an essential part of starting a
business. This living, breathing document generally projects three to five years ahead and
outlines the route a company intends to take to reach, maintain and grow revenues.
» At http://www.uschambersmallbusinessnation.com/toolkits/start-up you will find
strategies and toolkits that will help guide you when writing your own business plan.
Interested in Buying a Franchise?
Do you think that your favorite restaurant or business has a sound business plan and would
work great in you neighborhood?
» Get a franchising strategy and overview at: http://www.sba.gov/category/navigationstructure/starting-managing-business/starting-business/establishing-business/b-0
Start a Home Based Business
Many well-known, successful corporations started out as home based businesses.
» Learn more about home based businesses at: http://www.sba.gov/content/homebased-business
Mentorship and Networking Options
GUIDANCE
When you’re in the initial phases of getting your small business off the ground, you could
probably use some guidance and advice from a mentor or counselor. In order to grow and
accelerate your business you should cast a wide net and network with many different individuals
and regions.
» Find networking opportunities in your region and area of interest at: http://www.
nasbc.org/networks/
» Find a free and confidential mentor in your field at: http://www.score.org/
Y.I. FACT SHEET • RESOURCES FOR STARTING A BUSINESS • JUNE 2012

Resources for Women and Minorities
If you own a business and are a woman or minority you could be eligible for grants. There
are also associations and networks specifically for you!
» http://www.sba.gov/content/minority-owned-businesses
» http://www.wipp.org/
» http://www.nwbc.gov/
Resources for Busy Individuals
Take advantage of these free Podcasts that offer expert insight and guidance about starting
your own business.
» http://www.sba.gov/category/navigation-structure/counseling-training/online-smallbusiness-training/starting-business/podcasts
» http://www.nfte.com/why/multimedia/podcasts
Creative Advice for Entrepreneurs
Get creative advice and ideas from individuals just like you who are trying to start their very
own business. You can find advice on everything from branding image, how to find a mentor
that matches your personality, and even seven businesses you can run from a tropical
island!
Loans
» http://theyec.org/category/business_cat/
FINANCIAL MATTERS
Do you have limited capital and are unsure how you will be able to start your business without
monetary backing? There are many loan options out there for individuals just like you.
» http://www.startuploans.org/
Tax Information for Business Owners
Find out basic federal tax information for people who are starting a business, as well as
information to assist you in making basic business decisions at:
» http://www.irs.gov/businesses/small/article/0,,id=99336,00.html
Income-Based Repayment (IBR) Plan for Student Loans
This plan is best for borrowers who are experiencing financial difficulty, have low income
compared with their student loan debt, or who are pursuing a career in public service. You
may qualify. Get a basic overview of the IBR plan at:
» http://www.ibrinfo.org/
» http://www.sba.gov/startupamerica/student-startup-plan
Small Business Health Care Tax Credit
Worried about not being able to provide healthcare for yourself, your family, and employees?
Thanks to the Affordable Care Act, many small business owners can now offer health
insurance coverage for the first time or maintain the coverage they already have.
» Find out more at: http://www.irs.gov/newsroom/article/0,,id=223666,00.html
» http://www.whitehouse.gov/healthreform/small-business/tax-credit
Sources: Inc.com, the IRS, U.S. Small Business Administration, U.S. Chamber of Commerce,
National Association of Small Business Contractors, Women Impacting Public Policy, National
Women Business Council, and the Young Entrepreneur Council
Y.I. FACT SHEET • RESOURCES FOR STARTING A BUSINESS • JUNE 2012