Recognizing Business Opportunities

Written by Laurie Nichol
Bookmark and Share

Some of us just have an eye for business. Perhaps you're naturally inclined to sniff out the best opportunities, and have a feel for what business needs in your community have not been met. Even the most savvy businesspeople among us, however, need to be aware of the details and conditions of the small business game. If you're considering jumping into buying a business franchise, great! Just get familiar with the overall system, and then you can proceed with confidence.

Defining a Small Business

If you want to work the system for loans and assistance, then you need to recognize a few things. This country makes a lot of allowances for and takes care of its small business owners. Small businesses are defined by a strict set of characteristics.

To qualify for federal help under the SBA, or Small Business Administration, then you should visit their website, at http://www.sba.gov. Here, you will find the rules that govern small businesses, as well as the guidelines regarding their loan programs - even caveats for the aspiring small businessperson. They have a chart which can tell you if your particular company qualifies as a small business.

Remember that getting a business license, receiving discounts and deals intended for small businesses, and especially, getting loans, depend on your endeavor qualifying as a small business. Take the time to learn the specifics of the system. Then, making the small business ideas that appeal to you grow into thriving companies will be that much easier.


Bookmark and Share