A List of Five Small Business Resources You’ll Want to Know About
The Internet is Full of Resources for Small Businesses
As a small business owner, you are never alone, especially if you’re partnering with a successful franchise opportunity. Personal networking, mentorship, and the Internet’s abundance of small business resources are easily accessible. The business world is not as cut-throat as lawyers and your MBA faculty romanticized it to be. There are guides, tools, and resources omnipresent to help address any snags you find yourself in. You might just need to know where to look.
This article will discuss five of the best sources of business knowledge covering topics like tax information, hiring guidelines, and back-office systems.
Filing Taxes as New Small Business Owner
A common mistake many neophyte business owners make is believing that the IRS will overlook their business before profiting. This is far from true. The IRS takes huge bounds to audit small business and start-ups even before they enter the black. Hiring a CPA or tax preparation service is one of the major small business resources that will pay for itself. Organized books and accounting will not only make tax season less of a headache, it will help you find your business’ strengths when time to expand comes.
For support in filing taxes enlist the help of SCORE. This organization is a group of retired executives who have the expertise to mentor you through the toughest business challenges. Local SCORE chapters provide valuable practical advice, tools, and education you will need as you start out.
Finding a mentor is simple through SCORE’s network of experienced entrepreneurs. You can visit a local chapter or access their information online. The SCORE website can be used as a manual. You can find instruction on all relevant business inquiries. Information like how to structure your business for legal and tax purposes, proper deductions, and steps to partnering with a tax preparation agency are a few clicks away.
Where and How to Hire Employees
The internet is an extensive and far-reaching tool for collecting and retaining talented members of your team. Every position, skill-set, and congruous personality can be found for your business. First, you’ll need to narrow down the employees you’re looking for by job title. Then, you’ll need to post job openings throughout various internet forums. There are a variety of credible small business resources where you can post job openings.
Job Posting Forums
- LinkedIn Jobs
Post all relevant information on these sites. Include information like credentials, minimum work experience, expected compensation, and summarize the job description. There are also a number of recruitment agencies that you can use if your business is scaling quickly.
The Small Business Administration
The SBA is an independent agency of the federal government whose sole purpose is to assist small business owners. Whether finding a small business loan with advantageous rates or seeking out free education on segments of business like financing, marketing, or managing—the SBA is a widely comprehensive small business resource. Many of the first time tasks of opening a business from the ground up are outlined in the SBA’s literature. Tasks, like writing a business plan, or picking out a point of sales system are outlined in easy step-by-step guides.
The SBA’s mission is: “The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam.”
Free Online Small Business Resources
The convergence of the online world has introduced new dissemination of information that before only experts had access to. Now, small business owners don’t need to attend massive amounts of school or attend conventions to gain the skills needed for success. Training can come in a variety of free online business resources. Business blogs like Small Business Trends and You’re the Boss Blog give insider tips that can give you a competitive edge. Entrepreneur, INC., and Forbes also publish great articles to keep business owners informed.
LinkedIn is another stream of valuable information. This website is the social media of business. LinkedIn helps individuals network with other professionals. Not only does this boost your chances of partnering with other credible professionals, but it can provide a daily rundown of all the news affecting your industry.
Buying a Franchise
Many choose franchising over opening an independent business so that they will also have the support they need. All the organizations like the SBA, SCORE, and your local chamber of commerce will all be there to help, but it’s a little different with a franchisor assisting you.
The difference is that you own your own business within a company that is 100% invested in your success.
When your franchise unit prevails—-generates huge income—the entirety of the franchise company prevails. This mutual investment is a schematic for huge business advancement. A reputable franchise will be a framework of small business resources. For more information on how franchising can make your entrepreneurial pursuits easier, click here.
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