The Small Business Development Center
of Washington State University
This Web site is intended to accomplish
two purposes: 1) help you evaluate your business concept and 2) direct you to
resources.
You should begin by evaluating your
personal goals, strengths, and weaknesses as well as the business concept. Go
through "Tips for Making a Good Business Start" and carefully
address each topic. The next step is to go through the "Developing
a Business Plan" checklist. A business plan is the foundation of your business
concept. It organizes information, aids in data gathering and decision-making,
and enables you to objectively analyze financial risks and benefits. The checklist
will start the process of writing a business plan.
"Starting a Business in Washington State" lists local,
state, and federal agencies to contact prior to starting a business. Read through
the list and contact those agencies relevant to your business. Refer to
"Business Resources" to know where to find information
and assistance.
Note: If financing is required,
a banker/investor will require a copy of your business plan and financial projections.
Often, the risk associated with new businesses prompts the bank to request a
guarantee from the Small Business Administration (SBA). SBA loan criteria are
about the same as the bank's - both have to agree on the credit-worthiness of
the borrower. There are virtually no grants for the purpose of starting a business.
This information should help get
you started! If you want counseling assistance after you go through the business
plan checklist, please call (360) 260-6372.
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