76. I'm researching a few business ideas. Where can I get statistics and market information for my business plan?
The following should be of help: local library, Chamber of Commerce, state department of economic development, trade associations in that field, bookstore, magazines.

77. What exactly is the definition of a small business?
Less than 100 employees with sales of less than $5 million.

78. What are some of the things I should include in my start-up budget?
In addition to inventory and basic investment on your product/service, consider and factor in the following expenses to help you determine a budget: taxes, insurance, utilities, advertising, rent/mortgage, living costs, transportation.

79. I make a product out of my home. Where can I sell it if I can't afford national TV advertising or national magazine ads?
Consider going the trade show, craft fair or association route. Get yourself a booth at a trade show, sit there with your products on display and wait for buyers to come up to your table and order your goods. Here are just a few excellent selling venues: conventions, auctions, block parties, flea markets, craft fairs, swap meets, shopping malls, school functions, fundraisers, state and county fairs, church events, civic events.

80. Where can I find out where these shows are held?
Contact local convention centers in your region and get a schedule of events. Call associations you are interested in and find out when and where they plan to host their shows. Many libraries keep a copy of Directory Of Associations on hand.

81. What does it cost to rent booth or table space at a show?
A local swap meet could cost $10 a day and you might have to turn over a small percentage of your profits to the organizer. Porfessional trade shows could cost anywhere from $500 to $2000 for a booth. BUT, it could be a good gamble. We know of one entrepreneur who begged and borrowed the $500 he needed to get a booth and wrote up $14,000 of orders in one weekend.

82. I make and sell clothes. Where can I get labels printed?
Check your local Yellow Pages under garment center, labels and/or custom-made goods.

83. How do I organize a home office?
An important thing to have is a filing cabinet. No matter what you think, you will need to turn to research materials, client lists, flyers, etc. Start a good filing system from day one and you won't be overwhelmed six months down the line when you try to organize the mounds of paperwork you've accumulated.

84. Can a home business really make it big?
Absolutely! Consider this list of enterprises that started fromn home: Apple Computers, Ben & Jerry's Ice Cream, Domino's Pizza, Ford Motor Company, Estee Lauder, Lillian Vernon Mail Order, Reader's Digest, Nike, Walt Disney, Hallmark Greeting Cards.

85. I don't have enough money to print up a brochure for my business. What else can I do?
We've covered flyers, but don't underestimate the power of a great letter. Don't make any claims you can't back up, but do outline all of the positive aspects of the product or service you are offering.

86. Is there a national group of home-based entrepreneurs that I can join?
Call the National Association For The Self-Employed. Based in Hurst, Texas, the NASE began in 1981 and has grown to a membership in excess of 300,000+ small business owners, many of whom work from home. The organization prides itself in serving the needs of small businesses: the mom-and-pop shoe store, the one-person show, the solo entrepreneur just starting out. Call or write for details: NASE, 2121 Precinct Line Road, Hurst, Texas, 76054.

87. What are the hot trends in small business start-ups?
Service businesses definitely are booming. Food delivery is very big, mobile car wash and detailing, recycling and other businesses, that related to the environment, health-care services and residential/commercial cleaning all seem to be doing very well. Gift basket businesses don't seem to have slowed down and mail order continues to grow.

88. How can I learn about all the various legal forms I need to start and run a small business?
Consult with your local SBA office. Also, drop by a local stationery store. They sell the forms. A local bookstore could point you in the direction of a book of forms, too.

89. What about a home office?
I work in an office, but often do a lot of work out of my home? In 1991, the IRS introduced Form 8829, which taxpayers must use to claim a home office deduction. The form asks each home worker to calculate the percentage of the home used for business, based on either the number of rooms or the square feet. Others costs such as insurance, itilities and depreciation on your home, must be included in your calculations for the Form 8829. To qualify for the deduction, a portion of the home must be used as the main place of a business. It has to be usedas a main place of a business. It has to be used on a regular basis and it must be used exclusively for that business. If you file, you must be able to prove this. The business that is exempt from this exclusivity is a day-care business.

90. What is the difference between the service, retail and manufacturing sectors?
These three headings are used to categorize business in the United States. All businesses fall into one of these three. Service is selling time and convenience to busy Americans and can range from a car wash to a catering enterprise. A retail business involves a store or selling of merchandise. Manufacturing is our auto industry, or the making of widgets for a giant corporation's assembly line.

91. What's the best way to approach any type of agreement with a supplier, customer, etc.?
Put it in writing. When it comes to money, a written agreement will spell out the responsibilities, deadlines, prices and anything else that pertains to the matter at hand.

92. How do I investigate or judge the legitimacy of a company offering a new business opportunity?
Here are a few guidelines: beware of companies that request money right away, even before they adequately explain what their biz opp consists of; make sure the company has a number, address you can use to follow-up on their sales literature; call the Better Business Bureau in the city which the company is based and request a "reliability report"--they might charge you for this service, but it is worth it. The cost is about $3. Check with the consumer affiars office and call the post office where the company is based and see if there are any complaints on file concerning mail fraud.

93. How do I charge sales tax?
Just about every state charges sales tax. A business owner needs a "seller's permit" in order to collect sales tax. You can get this permit from your local state sales tax agency. You must make a deposit or post a bond which the state will keep if you fial to pay the taxes you collect. You might want to predict low sales for your business when you go to apply for the permit. This could reduce your deposit fee. You must file monthly or quarterly sales tax returns with the state agency. Who needs to charge sales tax? Anyone who sells an item on a retail basis directly to the consumer.

94. I'm starting a sports collectibles business. Can I have people buy the goods right out of my house?
You'll have to check local zoning laws on using your home as a shop. Your nieghbors might object to cars parked on the street.

95. I have a lot of computer equipment at home. How can I discourage a break in?
Leave a light on or set a light on a timer. Put a few in different rooms. Illuminate the outside of your home. Connect a radio to the timers. Don't inform the police that you'll be away. They are not the best deterrent from robberies. Tell a trusted friend, neighbor or relative. Ask them to pick up your mail (and water your plants).

96.What types of documents should I save?
Save the following: cancelled checks, deposit slips, purchase invoices, sales slips, invoices (copies), receiving reports, receipts for cash paid out, any type of record or receipt that backs up knowledge about your business recordkeeping systems. Also, save all of your tax returns.

97. What is a balance sheet?
A balance sheet tells you at any time what your business is worth. It includes liabilities (what you owe); assets (total value of your business); and capital (claim on the assets of the business). Your balance sheet basically looks like this:
liability + assets = capital.

98. I need to hire someone to help me out during the busy seasons. Any suggestions?
Maybe you should call a local temp agency in your area. You might not need to hire a full-time employee. Also consider part-time help from students or out-of-work folk or retired people.

99. I've never run a small business and have no formal training. Am I crazy to try?
Everybody has to start somewhere. There are no written scripts on what it takes to lauch a winning venture. If you choose a business you'll like, you will enjoy working on it, and if you work on it, chances are in your favor that you will succeed.

100.I have a small child who wants to work in my business. How will this work tax-wise?
A child with no other income can earn uyp to $3000 tax free. If your business is unincorporated, your child's wages will be exempt from Social Security and unemployment taxes (until they reach 18 years of age).

101. How can I teach my spouse about my business without sounding bossy, pretentious, obnoxious?
Have your spouse work in your small business for 2-4 weeks a year. If for some reason, you get sick, he or she can step in and keep the ball rolling until you return to the line of fire.

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