Gary Robinson, April 8, 2022

Want to Start a Business or a Non-Profit, But Don't Know How?

We know there's plenty of excitement but much uncertainty too ... SCORE Memphis can help.

Start Here!

Market Research

  • The main branch of the Memphis Public Library offers amazing resources for startup businesses. The library’s Business and Entrepreneurship area online will help you find out things you need to know about your business idea and your upcoming competition. This link will take you to that area (a library card is required for some of the sections). If you want to learn more, check out the webinar from 4/5/22 in our list of recorded webinars.

  • A SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) is a great tool to determine the status of your business or the businesses of your competitors. Here is a link to a worksheet template that will let you run a SWOT analysis. And this link will take you to a 48-question sheet you can answer to ascertain if you're ready to make the big jump into a business.

Not Sure What Type of Legal Entity to Use?

  • Here's a quick overview 

  • Learn how to form a Tennessee LLC - Limited Liability Company: Download Guide to Starting an LLC in Tennessee

    • ​​An LLC is often a great option for most start-ups, including sole proprietors and partnerships

    • ​But also see other entity types in Tennessee [S, C, or Non-Profit] at Tennessee Secretary of State Registering a New Business

  • Considering a 501(c)(3) Non-Profit? SEE MORE INFORMATION BELOW.

  • We recommend obtaining an EIN for your business from the IRS Get one online at IRS

  • Consider getting Business Insurance for more protection, even though you have a legal entity

  • We also suggest you find the NAICS code for your type of business; the NAICS code is requested by IRS when you file taxes and is useful for market research and financial benchmarking

Wondering about Licenses, Regulations, and Trademarks?

Don't Forget about Taxes!

 Looking for Funding, Legal Help, Accounting Help?

Considering a 501(c)(3) Non-Profit?

Have More Questions?

Looking for more help?

 

 Gary Robinson      Gary Robinson, Volunteer Mentor, SCORE Memphis - April 8, 2022

Since joining the SCORE Volunteer team in 2017, Gary has worked with dozens of entrepreneurs, helping them start up or ramp up their businesses.  He is passionate about education and loves to help entrepreneurs refine their ideas.