1. The U.S. Small Business Administration (SBA) aids, counsels, and protects the interests of small businesses. Spend some time investigating all of the benefits offered by SBA. If you hope to sell products or services to the federal government, study the “Business Opportunities” page. If you, as the owner of the business, are a member of a recognized minority, check the 8(a) program. If your business is located in a Historically Underutilized Business Zone (to find out, go to http://map.sba.gov/hubzone/init.asp#address ), check the HUB Zone Program. Both of these programs (and others) offer some competitive advantage in gaining federal contracts. http://www.sba.gov

2. The U.S. Small Business Administration Startup Guide serves as a roadmap
for starting a business, finding finances, doing business with the government, etc.
Learn how to start a business, choose the type of business organization, develop
a business plan, write a loan proposal, and learn about applicable government regulations.  http://www.sba.gov/starting_business/startup/guide.html 

3. The Service Corps of Retired Executives (SCORE) provides “Counselors to America’s Small Business.” This is the best source of confidential and free small business advice and training to help you build your business—from idea to start-up to success. The site offers a variety of free goodies — business plan and financial templates, financing guides, newsletters, online workshops, tips, IRS tax workshops, etc. http://www.score.org

4. Should your new business be a sole proprietorship? Or an S-Corporation? Or a C-Corporation? Or a Limited Liability Company? What are the ownership rules of each? What is the personal liability exposure of the owner in each case? How are income taxes calculated? First seek professional advice from your accountant and/or your attorney. Then visit this site. It will help you to decide whether to form a corporation or a limited liability company, and will, for a fee, prepare all of the paperwork necessary to implement your decision (and that fee will probably be less than your local attorney would charge). http://www.corporate.com

5. The Wall Street Journal Center for Entrepreneurs offers a site to help you research the market, secure financing, open a shop, hire employees and run the business. The site’s content comes from the powerful editorial resources of The Wall Street Journal, industry experts and StartupJournal’s editorial team. This site will help with business plans, trademark searches, startup books available for sale, etc.  http://www.startupjournal.com

6. What common mistakes should you avoid when starting a new business? Concentrate on cash flow. Focus your mind on what you do (and what you don’t do). Keep a lid on overhead. Commit to self-education. Read the complete Entrepreneur Magazine article for details. http://www.entrepreneur.com

7. Inklings Media Company offers an array of written and graphic products for the business community. Inklings Media Company is a small, disabled veteran owned, HUB Zone business located in Talladega County, Alabama. If you need help with press releases, business plans, procedures, manuals, brochures, advertising, etc, visit this site. www.inklingsmedia.com

8. Running a business is an exciting challenge. And a tough challenge. If you hope to succeed, you MUST keep control of your finances. You MUST know where your money is coming from and where it is going to. So, how do you control your finances? First, seek advice from your accountant. You may choose to hire him to keep your books. Or you may choose to keep them yourself using some software package like QuickBooks. Packages like QuickBooks will allow you to enter your invoices, orders, and bills and remind you when they are due. It will fill in vendor information and print your checks. It will automatically track sales and expenses. http://quickbooks.intuit.com

9. If you are required to report employment taxes or give tax statements to employees or annuitants, you need an employer identification number (EIN). The EIN is a nine-digit number issued by the IRS. It is used to identify the tax accounts of employers and certain others who have no employees. You must use the EIN on all items you send to the Internal Revenue Service or the Social Security Administration. You may apply for an EIN online. Do not use your social security number in place of an EIN. If you took over another employer’s business, do not use that employer’s EIN. Get your own. www.irs.gov/smallbiz

10. If you wish to do business with the federal government, you must register with the Central Contractor Registration System (CCR). The first step is to apply for a Dun & Bradstreet number (a DUNS number). This can be don online at www.dnb.com. The process of obtaining a DUNS number takes up to thirty days. D&B will also try to sell you some additional services. These are fine if you need them, but they are not necessary for obtaining the DUNS number. You will receive the DUNS number by email. After obtaining the DUNS number, you can register with the CCR at www.ccr.qov. After you register with the CCR, you must obtain a Trading Partner Identification number (TPIN). This can also be done online at www.bpn.qov/ccr email!. To obtain the TPIN, you must provide your DUNS number and your CCR confirmation number.
www.dnb.com
www.ccr.gov 
www.bpn.gov/ccr_email

Inklings Media Company

2143 Quail Run Road
Munford, Al 36268
Phone: 256-362-9815

fax: 256-362-9814
Email: cbelitz@inklingsmedia.com