Starting a Business

Helpful Links

Choosing the Legal Form of Ownership for Your Business
Grant Information
Hiring Employees - What You Need to Know
Marketing - Do's and Don'ts
Marketing for Small Businesses
SBTDC Loan Packet Information - PDF File

Starting a new business can be exciting and challenging. There is much to be done during the idea and planning phase of opening a new business. This stage of business development is critical to the long term success of the business. It is common knowledge that failure rates for new businesses are high. However, business owners that plan properly before opening the business increase their chances of success.

Starting a new business requires extensive planning and preparation which is quite time consuming. To assist in this process, Arkansas Small Business and Technology Development Center offers a variety of services to assist new business owners.

Recommended Action Steps for Starting a New Business

For those of you who are planning to start a new business, the ASBTDC recommends that you follow these action steps. These steps will help you as you determine whether or not you want to start a business as well as consider the feasibility of your chosen business. These steps are designed to help you learn about the critical issues related to starting a new business and guide you through the planning process.

Step 1: Attend the Starting a Business in Arkansas seminar - Live and Online This seminar is offered by ASBTDC on a regular basis at locations throughout the state. It is highly recommended to those who are new to small business ownership. This seminar covers topics such as issues to consider when going into business, business feasibility and planning, license, permits, and tax requirements, and financing considerations.

Step 2: Develop a Business Plan - Writing a Business Plan Developing a business plan is one of the most critical steps in starting a new business. Not only will developing a plan improve chances for business success, but it can also serve as a communication tool for potential lenders in obtaining financing for the business. To view a sample business plan, please click here. Other articles obtaining to writing a business plan include: "Do's and Don'ts of Writing a Business Plan" "Business Plan Outline"

Step 3: If financing is needed, then submit a business plan to a potential lender. When trying to obtain a small business loan, submit your plan to your lender to determine if the lender is interested in financing your project. To find out if you "Can Qualify for a Business Loan", click here. Other articles obtaining to financing include: "Understanding Financial Statements" "Managing Cash Flow" "Sample Cash Flow Spreadsheet" "SBTDC Loan Packet Information - PDF File"

Step 4: Finalize Start-Up Requirements Once you have secured financing for the business, you can take care of issues such as obtaining licenses and permits, signing leases, making purchases, and opening.

Training Opportunities

The ASBTDC offers a wide variety of live and online classes to those who are interested in starting a business. The first course recommended to those who are considering starting a business is "Starting a Business in Arkansas".

Frequently Asked Questions

The ASBTDC provides answers to common questions often asked by those who are considering starting a business.

Arkansas Residents - If you need additional assistance in answering questions about starting a business, please contact your local SBTDC office.