User:Randy Kenyon/sandbox

A myriad of questions and decisions face anyone starting their own small business. The bursting of the "dot com" bubble in the 1990's and subsequent economic downturns in the U.S. left many professionals unemployed and unable to find jobs similar to their previous careers. As a result, there has been a significant increase in the number of small businesses started in the United States since 2000.

A large percentage of new, small businesses fail in the first few years. Most failures result from lack of preparedness and experience in owning a business. There's much more to it than simply being an expert in the specific trade or industry. Start-up concerns include how to structure the business (sole proprietor, LLC, corportation, partnership), how to finance the start up, and how to compete against established firms in the same field. A business plan is not just necessary to solicit SBA or other business financing, it is also critical to understanding the operation from a third party's perspective. Business plans can be as simple or as complicated as you wish, but the more effort put into them at the outset is directly related to the chances for success.

This article will address the basic reuirements for creating a business plan and launching a small business for the first-time business owner. We will use the real-life experience of Piedmont Technology as a case study to exemplify various concepts covered. 1. How to structure the company. 2. Naming the business. 3. Ownership options. 4. Competitive Analysis of the market place. 5. Financing 6. Starting operations