According to 2017 data from the Organisation for Economic Co-operation and Development (OECD), companies with fewer than 10 employees make up 70 to 95 percent of all global businesses. In the United States alone, the small business community contributes approximately $8.5 trillion to the economy, roughly half of the total $17 trillion gross domestic product (GDP).
Whether you have an inventive product that will help others or want to pursue a tried-and-true business idea, starting a small business is a dream for many. You could have the opportunity to create your own job, build a business and put others to work.
Being successful can take more than a strong desire or work ethic, although those are important. Having a clear understanding of the steps involved in opening, financing, running and marketing a company could help you determine if you’re ready to be a business owner, and whether your idea could be a success.
Is Starting a Business Right for You?
Learn what it takes to start a business: the important first steps and the keys to success that can distinguish profitable businesses.
Creating a Business Plan
Learn how to turn your idea into a business plan. Your plan will be a roadmap for your business's future and a tool you can use to raise money.
Creating a Business
Registering or incorporating your business with the government can make your company more official. More importantly, it can offer you tax benefits and legal protections.
Understanding business budgeting, saving and financing is critical if you want to run a successful company.