How to Start a Business
Have an idea to start your own business? Congratulations! Just know that you are not alone. In fact, statistics say that one out of every five people is thinking about starting a new business on any given day. That sounds exciting, but the reality is that of those people starting a business today, only 20% to 25% will still be in business five years from now.
Every year more than 20,000 products are introduced in supermarkets alone. Add to that, the other retail outlets available, the wholesale industry, and industrial component markets and service businesses. The number of products (and the companies who make them) grows exponentially. Sadly, 80% of all these new products will last for less than three years. So why is there so much failure? While there are many answers for business failure, about half of small businesses fail because they are not marketed properly. It is a marketing problem–product failing to reach their target markets effectively. It is a crowded field out there. The true entrepreneur is willing to take the time to plan properly before jumping into a new small business. That leads us to the big question: "Where do you go for help to transform your idea into a successful business?"
Start-up Assistance
MDA’s Industry Assistance team provides financial, marketing, management and technical assistance to entrepreneurs interested in starting a business. Our team of experienced small business consultants will assist you in analyzing your small business idea, your current situation and the dynamic business environment you are about to enter to help you find solutions to many of the most common business situations today. We have also created the Entrepreneur’s Tool Kit to assist you in preparing to launch your small business with guides on:
"Top 20 Most Asked Questions"
"Preparing a Business Plan"
"Reporting Requirements"
"Selective Business Financing Available"
"Business Resources" and much more
There is no cost for our services. Our purpose is to help you think through the process of small business ownership by posing some of the questions you need to address as you proceed in the creation of your small business. It just might save you some time – and money – in the start-up process. So, let’s get going.
For additional information and resources on How To Start A Business call MDA’s Existing Industry and Business Division at 601.359.3593 or contact email us at eibus@mississippi.org.
Entrepreneur’s Tool Kit
A must for every new business owner. A comprehensive manual to help you succeed.
Mississippi Market
The South's premier order-only wholesale show where Mississippi companies can promote their products and services to credentialed retail buyers from all over the Southeast.
MDA Library & Resources
Almost everything you need to know about living and working in Mississippi, all in one place. Find key facts, statistics, articles, maps, forms, data banks, and plenty of important links all at your fingertips.
