If you are a member of a minority, disabled or a woman, you should be aware of special programs that help small and minority-owned businesses get started. The federal government often limits competition for contractors to small or minority-owned businesses. The Small Business Administration also has business development programs for minority business owners. Once you've got your business idea, you can start the process of making your business legal. Your first step should be to decide the legal structure of your business.
Sole proprietorships are the simplest to set up but have the greatest risk of personal liability.
Corporations and limited liability companies are more difficult to set up but protect owners from liability. Getting financing A new business won't go anywhere without financing. Financing can come from many sources, including bank loans, venture capital, private placement and the sale of stock. Naming the business One of your first steps should be to come up with a name for your business. The name should be catchy and not too general.