Starting a Small Business SBDC Guide

An extensive guide for steps to starting a business

• Different ways to organize your business
• Key elements of a business plan
• Complying with federal, state, and local tax obligations
• Basics related to management, hiring, and marketing

Starting a Business

• Self Assessment
• Select a Business Idea
• Perform Market Research
• Refine & Re-evaluate Your Business Idea
• Analyze Your Start Up Costs
• Refine and Reevaluate Your Business Idea
• Write Your Business Plan
• Complete the Start Up Checklist
• Secure Financing For Your Business
• Start Your Business

Business Plan Outline

• Company Introduction & Description
• Market Analysis
• Management & Operations
• Financials

Business Legal Issues

• Operating Your Business
• Choosing and Filing a Legal Structure for Your Business
• Selecting and Registering a Business Name
• Protecting Your Business Intellectual Property
• Licenses, Permits, and Business Regulations
• Navigating Michigan Business Requirements
• Business Taxes and Withholding
• Streamline Your State Taxes with Michigan Withholding Online
• Business Insurance
• Special Considerations for Selling to the Government
• Procurement Technical Assistance Centers
• Government Bidding
• Becoming a State of Michigan Contractor
• Small Business Certifications

Financial Management

• The Benefits of Financial Management
• Bookkeeping
• Cash Flow & Cash Flow Projection
• Financial Recordkeeping
• Other Recordkeeping
• Taking Cybersecurity Seriously
• Ransomware Attack's Do's and Don'ts
• Create Separate Bank Accounts for your Business

Marketing Your Business

• What Defines Your Brand
• Setting a Marketing Budget
• Creating a Marketing Plan
• Developing Your Message
• The 4 P's of Marketing
• Publicity and Public Relations
• The Power of Online Marketing
• Using Your Website To Grow Your Business
• Attract Business Through Social Media
• Consider Pay Per Click Advertising and Other Paid Online
• Advertising to Gain New Visitors to Your Site
• Managing Online Reviews

Hiring Your First Employee

• Craft Your Hiring Strategy
• The Importance of Professional Assistance
• Employee vs. Contractor
• Training and Developing Employees
• Create Clear Expectations With An Acceptable Use Policy
• New Hire Reporting Requirements
• Payroll Taxes
• Ensure Your Compliance with Employment Laws and Regulations
• Health and Safety Standards
• Required Workplace Posters in Michigan
• Required Federal Workplace Posters

Michigan Small Business Development Center Resources:

• Business Plan Development
• Market Research
• Raising Capital
• Business Education –
• In-Person & Online
• Training Technology Commercialization
• Financial Management
• Export Strategy
• Strategic Planning
• Human Resources & Organizational Development