Question

Small Business Administration Many of you will work for a small business. Some of you will even own your own business. In order to operate a small business, you will need a good understanding of managerial accounting, as well as many other skills. Much information is available to assist people who are interested in starting a new business. A great place to start is the website provided by the Small Business Administration, which is an agency of the federal government whose purpose is to support small businesses. Instructions Go to the Small Business Administration website, search "Is entrepreneurship for you," and then answer part (1) below. Next, search "10 steps to starting a business and then answer part (2) below. 1. What are some of the characteristics required of a small business owner? Research this question on the SBA website as well as other sites. 2. What are the 10 steps for starting a business? Prqvide detailed information for each step. 3. How do you grow your business?

Answer 1

o Following are some of the characteristics required for a small business owner. Those are being explained in detail below are toate (i) Goal-oriented : bod to one must set goal. before he/she takes an action Goals helps to achieve the targets in an effective manner and assist in where one has to go. ut di Self-confidence : Confidence help oneself to build trust and taking him/ luh to the peok, у Илмий. (iiis Interest buts love tot para o bar when one has an interest or passionate about the business then only he/she can stand in the market

als Market research is a way to gather information about the potential buyers and about the businesses being operated in a particular locality. (ii) Planning: planning plays a key role vetting up of business and even after. Upto now there is no proper procedure for planning. planning helps to utilize funds in an effective manner without occurance of unnecessary expenses. chin Capital Inuestment : from Planning one will get to know how much has to be invested. If sufficient

by Partnership to korean (c) Company (d) co-operative souety. (vi) choice of business name: The name selected must be pronounciable, short and sweet, must include only alphabets, should not be other Stki СВироли № 4x busing name wii Registration of business name: once the name has been choosen then its time to get it registered so that no one can use the business name viis Get Federal and state tax Ils : One can use employer Identification number for

③ following are the ways to grow the existing business • conducting a market study participating in Trade Shows • Diversification of business, launch of new products with same brand name. sales promotional activities can attract more customers • Grining back to the society in one of the other manner. • Get to know about customers interest. • аларе у Калі аl mеdiа.
In order to operate a small business, one has to pocess some characteristics. Following are some of the characteristics of a good owner and 10 steps for starting a business and to grow a business.Those are being explained in detail below.