Must-Have Resources if you Are Planning to Start a New Business

Table of Contents

• Executive Summary:

• Business Plan Outline

  • Business Credit for Startups

    • The Guide to SBA Funding

      • Startup Business Insurance Options

  • Tips & Tricks: Takeaways for SMBs

    • 1. Always Start with a Strong Business Plan

Executive Summary:

This blog post provides a curated list of essential, free online resources designed to help aspiring entrepreneurs successfully launch and grow their small businesses. It serves as a practical guide to navigating the early stages of starting a company by addressing several key areas:

Business Plan Outline

One of the most important documents you will create for your startup is a business plan. In this article about what to include in a business plan, I outline in detail each section you need to outline and provide useful information to help you complete a sample business plan outline for your company.

Business Credit for Startups

Knowing the different characteristics of business credit is essential for the prolonged success of your company. There is a range of reasons you might need credit for your startup. Even if you don’t need credit right away, understanding how business credit works is key. In my article, How to Build your Business Credit Quickly, I cover everything you need to know to give you the best chance of success, and hopefully prevent you having to use your own money to support the business.

The Guide to SBA Funding

If you are new in business and looking for options to get funding, there may be an SBA loan that meets your needs. If you are looking to get funding today or in the future, this comprehensive guide to the SBA Loan Program will help you understand the different government-backed options that form part of this program.

If the SBA program isn’t for you, or you don’t quite meet the criteria for an SBA loan right now, there are many alternative sources of funding for startups in the US. If you want to get some tips before you apply, then this article will help you understand what lenders are looking for and offers some practical advice about how to get your startup loan approved. Whatever type of funding you may consider for your startup, you will need to have a sample business plan outlined for your company.

Startup Business Insurance Options

When you are new in business, you need to make sure you have the right business insurance for your startup. With the myriad of options available, it can sometimes be confusing to know which types of insurance you need. This comprehensive guide to business insurance explains the different types of business insurance on offer, to help you work out what you need and what you don’t.

If there are any other key resources that you feel are missing from this list, then please do let me know and I will update the post and the blog with any information that seems relevant.

Tips & Tricks: Takeaways for SMBs

1. Always Start with a Strong Business Plan

Tip: Use a sample business plan outline as your foundation, even if you’re not seeking funding yet.

Trick: Tailor each section (market analysis, financial projections, etc.) for different purposes: one version for lenders, one for internal strategy, and one for pitching investors.

2. Build Business Credit Before You Need It

Tip: Open a business bank account and establish trade lines with vendors early on, even if you’re self-funding.

Trick: Use your EIN (not your SSN) to register with business credit bureaus and make small purchases you can pay off quickly to start building credit history.

3. Choose Business Insurance Based on Risk, Not Just Cost

Tip: Focus on the coverage that matches your actual risks (e.g., liability for service businesses, product liability for e-commerce).

Trick: Start with general liability, then bundle it with other policies like property or cyber insurance to reduce premiums and avoid coverage gaps.