Starting or Buying A Business

Why a Business Plan?

A business plan is an important tool for a new entrepreneur. It is your road map for success. The US Small Business Administration states on its web site: "A business plan precisely defines your business, identifies your goals, and serves as your firm's resume. The basic components include a current and pro forma balance sheet, an income statement, and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make good business decisions. Because it provides specific and organized information about your company and how you will repay borrowed money, a good business plan is a crucial part of any loan application. Additionally, it informs sales personnel, suppliers, and others about your operations and goals."

Help in Writing a Business Plan

There are numerous resources to assist a prospective entrepreneur in creating a business plan. Books can be found at libraries and bookstores. Accountants and business consultants can help structure business plans. There are a number of non-profit groups dedicated to helping new entrepreneurs especially for minorities and women.

Two of the best sources for start-up assistance are the US Small Business Administration (SBA) and the Small Business Development Centers (SBDC's) in your state. Both provide a plethora of information on starting and running a business including creating a business plan. SBA sponsors a business consulting group called SCORE (Service Corp of Retired Executives). Both the SBDC's and SCORE will give you one-on-one consultations about your business at little or no cost.

For more information about business plans and starting or buying a business call or visit the web sites of your local SBA and SBDC offices. For a listing of SBA and SBDC web sites and phone numbers, please refer to the Small Business Resources section below.

Small Business Resources

The US Small Business Administration (SBA), Service Corp of Retired Executives (SCORE), and the Small Business Development Centers (SBDC) can be valuable resources for both new and established businesses. They can provide information and counseling for little or no cost on all phases of business, from starting a business, to finding new markets, manufacturing efficiency, financing, and employee relations

US Small Business Administration

US Small Business Administration web site

Small Business Administration Office Phone Numbers

Massachusetts – 617.565.5590 
New Hampshire – 603.225.1400
Rhode Island – 401.528.4561
Vermont – 802.828.4422
Maine – 207.622.8274
Connecticut – 860.240.4700

Service Corp of Retired Executives

Service Corp of Retired Executives web site

SBDC Office's Phone Numbers

Massachusetts

Amherst – 413.545.6301
Worcester – 508.793.7615
Chestnut Hill – 617.552.2730
Salem – 978.542.6343
Fall River – 508.674.1929
Springfield – 413.737.6712
Pittsfield – 413.449.0933
Minority Business Center – Boston – 617.287.7750

New Hampshire
Littleton – 603.444.1053
Keene – 603.358.2602
Manchester – 603.624.2000
Nashua – 603.897.8588
Rochester – 603.330.1929
Plymouth – 603.535.2523

Rhode Island – 401.232.6111

Vermont – 800.464.7232

Maine – 800.679.7232

Connecticut – 860.486.4135