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Turning a great idea into
a business is both exciting and challenging. Small businesses are the
backbone of South Carolina's economy, providing needed services, products,
and most importantly employment opportunities. Beware, however, of the
pitfalls! According to the U.S. Small Business Administration (SBA) over
half of all new businesses fail within the first five years in operation.
Owning your own small business requires many sacrifices: most importantly,
time and money! (Contact your local SC SBDC for detailed information on
business startups - Steps to Starting a Small Business.)
Nearly
all-successful entrepreneurs possess the following attributes that have
made them successful. As you begin to formulate your ideas and business
plan, keep the following questions in mind.
Do
you possess:
- A strong desire for responsibility?
- A need to accomplish goals?
- Strong organizational skills?
- A high degree of commitment?
- A tolerance for uncertainty?
- The ability to be flexible?
- A desire to work hard?
- Total dedication to your business or idea?
- A family history in small business?
And finally:
·
Is there a strong market demand for the
product or services you are offering?
If
you answered yes to these questions, you're on the right track!
If
you have questions about market demand or need more specific information on
starting a small business, please contact one of our 14 regional or area
offices.
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