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As recommended by the SBA to determine your readiness to start a business. This questionnaire is for your own use in getting assistance with your business start-up. Once these questions are answered, you will have a better understanding of what you need, or the kinds of questions and assistance you will require for a good start.
Print out and complete this form to take with you when you seek advice from your local Small Business Development Center, SCORE office, or other small business start-up resource.
Small Business Readiness Assessment Tool
Answer Yes or No to each of the below question. The more yes's you have the more ready you are.
GENERAL
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Do you think you are ready to start a business? |
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Have you ever worked in a business similar to what you are planning to start? |
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Would people who know you say that you are well-suited to be self-employed? |
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Do you have support for your business for your business from family and friends? |
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Have you ever taken a course or seminar designed to teach you how to start and manage a small business? |
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Have you discussed your business idea, business plan or proposal with a business coach or counselor such as a faculty |
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advisor, SCORE counselor, Small Business Development Center counselor or other economic development advisor? |
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Do you have a family member or relative who owns a business? |
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PERSONAL CHARACTERISTICS |
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Do you consider yourself a leader and self-starter? |
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Would other people consider you a leader? |
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Are you willing to invest a significant portion of your savings or net worth to get your business started? |
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Do you have enough confidence in yourself and your abilities to sustain yourself in business, if or when things get tough? |
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Do you like to make your own decisions? |
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Are you prepared, if needed, to temporarily lower your standard of living until your business is firmly established? |
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Do others turn to you for help in making decisions? |
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Are you willing to commit long hours to make your business work? |
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Would others consider you a team player? |
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SKILLS, EXPERIENCE & TRAINING |
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Do you have a business plan for the business you are planning to start? |
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Do you know and understand the components of a business plan? |
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Do you know what form of legal ownership (sole proprietor, partnership or corporation) is best for your business? |
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Do you know why some consider business planning to be the most important factor determining business a success? |
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Do you know if your business will require a special license or permit and how to obtain it? |
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Do you know where to find demographic data and information about your customers? |
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Do you know how to compute the financial “break-even point” for your business? |
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Do you know how to compute the start-up costs for your business? |
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Do you know about the various loan programs that are available from banks in your area and the SBA? |
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Do you understand how a business loan can impact your credit? |
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Do you know how to prepare and/or interpret a balance sheet, income statement and cash flow statement? |
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Do you know why small business loans are considered more risky than loans made to large businesses? |
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Are you sure your planned business fills a specific market need? |
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Do you know your target market? |
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Do you understand the tax requirements associated with your business? |
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Do you know how to prepare a marketing strategy for your business? |
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Do you know how to learn about your business competitors? |
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Do you understand marketing trends in your business industry? |
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Do you feel comfortable using a computer or other technology to improve business operations? |
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Do you have a payroll process planned for your business? |
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Do you have a customer service strategy in mind or in place? |
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Do you know how to obtain an EIN (Employer Identification Number) for your business? |
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Do you know if your business should have some form of intellectual property protection? |
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Do you know where to obtain information about regulations and compliance requirements that impact your business? |
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Have you sold anything of value before? |
