Explore several different aspects of launching a start-up business.

Essay by jcolsonUniversity, Bachelor'sA+, November 2003

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This paper is written to explore several different aspects of launching a start-up business. One of the core aspects of a start-up business is a business plan, the purpose and why a business plan is essential to a start-up company will be fully explored. Another aspect of a start-up business are sources of funding, and the advantages and disadvantages of each. Yet another aspect are the legal issues that entrepreneurs and small businesses will have to face. Finally there are the issues that married couples must cope with in the start-up and operation of a family business. All these aspects are covered in the following paragraphs.

The business plan to a start-up small business is much like a star chart to an early sailor. Without it, a small business is destined to to fail. The risk of starting a new company are high, forty percent of all new businesses can expect to still be in business six years after they are launched (Ebert, R.

J., 2003). With that in mind, it makes a lot of sense to have a plan with clear direction when starting a new business. A business plan consists of many things. First a definition of who the customers of your business will be. Will they be retail, wholesale, corporate service consumers, government agencies or some other type? Location, location, location - where will the new company's customers be located? This has a direct effect on things such as procurement, shipping, and the actual business's location. Now that the who and the where have been answered, how much of the company's product will it's customers purchase, and at what price? The answers to these questions will define production and the way the product should be produced. Finally there needs to be a study on the competitors of...