Frequently Asked Questions

4. What do I need to do to start my own business?

One of the most important things to do before starting your own business is to determine whether or not your business idea is feasible. To accomplish this, you must plan and research your idea to ensure that your business has a favorable chance for success, will meet your expectations, and will provide an adequate reward for the risk involved. It is wise to validate your beliefs about your plans through research and careful planning because you will not have time to do it once you start your business.

As you begin, the ASBDC recommends that you attend a Starting a Business in Arkansas class in your area or participate in the online learning course Starting A New Business.

In addition, the ASBDC offers some excellent resources to assist you in the evaluation and planning process. Action steps for starting a new business as well as information and tools are available on the ASBDC web site under New Businesses.

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The Arkansas Small Business Development Center is funded in part through a cooperative agreement with the U.S. Small Business Administration through a partnership with the University of Arkansas at Little Rock College of Business and other institutions of higher education. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. It is the goal of UALR to eliminate discriminatory harassment and to promote equal opportunity regardless of race, gender, color, national origin, sexual orientation, age, religion, veteran’s status, or disability.