As small business owners ourselves – we understand that starting a business can be daunting. However, with planning, preparation and insight, chances of success can be improved tremendously. The U.S. Small Business Administration (SBA) reports that successful small business owners share a few things in common; they are self-starters, capable of organization, time management, and paying attention to details.
If you are looking to use these skills and open a small business – the next question that a prospective small business owner should ask themselves is what type of business they want to start. Two popular beginning choices are franchises and home-based businesses. Franchising a business means that while you own the business, the business was created by another person and governed by the terms of a contract with that person (a franchise agreement). Home-based businesses are just that – home-based. They offer unique flexibility and comfort that appeal to many.
For those looking to start a business – the SBA many helpful resources, including its resource guide for Virginia small businesses: https://www.sba.gov/sites/default/files/files/resourceguide_3155.pdf. For beginners, the SBA and its tools can help create business and finance plans. For experienced owners, the SBA can help expand businesses, obtain contracts, recover from downfalls, or find lucrative foreign markets.
If you are interested in opening a Virginia small business and have legal questions surrounding small businesses (formation, entity choice, contracts, lease review, licenses to name a few topics) – whether you are considering opening a business or are looking to grow one you already have – feel free to reach out to the small business attorneys at Winslow & McCurry at Winslow & McCurry, PLLC at (804) 423-1382.
