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Growing your business Understanding credit to achieve business success3Welcome Small businesses are the backbone of the U.S. economy. There are approximately 28 million nationwide, accounting for 54%
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01
Start by gathering all the necessary information about your small business, such as its name, address, contact details, and industry.
02
Determine the legal structure of your small business, which could be a sole proprietorship, partnership, corporation, or LLC.
03
Register your small business with the appropriate government agencies, such as obtaining a business license or permit.
04
Set up a business bank account to keep your personal and business finances separate.
05
Develop a business plan that outlines your goals, target market, and financial projections.
06
Determine your small business's tax obligations and register for an Employer Identification Number (EIN) if required.
07
Obtain any necessary insurance coverage, such as general liability insurance or workers' compensation insurance.
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Set up a reliable bookkeeping system to track your small business's income, expenses, and financial transactions.
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Start marketing and promoting your small business to attract customers and clients.
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Continuously evaluate and improve your small business's operations to ensure long-term success.

Who needs are small businesses really?

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Entrepreneurs and individuals who want to start their own businesses.
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Small business owners who want to expand their operations or improve their business strategies.
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Investors or stakeholders who are interested in supporting and investing in small businesses.
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Local communities and economies that benefit from the products, services, and job opportunities provided by small businesses.
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Consumers who prefer personalized and unique products or services offered by small businesses rather than large corporations.
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Small businesses are independently owned and operated businesses that have a small number of employees.
Small business owners are required to file small business reports.
You can fill out small business reports by providing accurate and up-to-date information about your business.
The purpose of small business reports is to track the financial performance of small businesses.
Information such as revenue, expenses, profit, and losses must be reported on small business reports.
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