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Financing is one of the most important aspects of starting a new business. Your ability to provide and raise adequate capital will determine the fate of the business venture. Insufficient financing may cause the business to fail. Excess borrowing with easy credit at high interest rates can also put the business at risk.

As you determine your business potential you should ask the following questions: Is there a need for your business? Will your business be able to survive the competition? Once you have answered these questions you will be able to check additional sources and develop a marketing plan. There are many legal and tax considerations that will enter into this decision, so make sure you consult your attorney and your accountant. 

As you determine your business potential you should ask the following questions: Is there a need for your business? Will your business be able to survive the competition? Once you have answered these questions you will be able to check additional rources and develop a marketing plan.

Now that you have read this guide, do you still feel that having your own business is what you really want to do? If the answer is yes, here are some steps you should take to help you get started after you have finished your business plan. 

One of the first steps that you should take before deciding to go into business is to determine why you, the prospective business owner, want to go into business. Have you realistically calculated the rewards and challenges of owning a business? Do you have the essential characteristics to be a successful business owner? Are you ready to handle the common types of problems faced by small businesses? Are you prepared to make the commitment and take the risks? Are you sure that this is what you really want? These are important questions that you need to ask yourself. 

Should I Start My Own or Buy an Existing Business? The purpose of this publication is to help you start your own business. There are alternative ways of going into business.

Information included in this guide is general to the state of California and specific to San Luis Obispo County. This guide outlines the different forms of business organization and the establishment of a basic business plan. It assists you in securing adequate financial support, complying with federal, state and local tax obligations and obtaining necessary licenses and permits. Most of all, this guide tells you where to find assistance and whom to call for answers to specific questions.     

Use the templates below, then meet with a SCORE mentor for expert business planning advice.

A guide to the important steps in starting your business in San Luis Obispo County.