5. Start-Up

The job seeker (with support) begins implementing the business plan. This includes: registering the business (if required); developing marketing materials; acquiring financing; obtaining materials, equipment or tools; developing inventory; skills training, etc.

The business plan should predict most of the expenses incurred during the startup phase of the new enterprise. Family resources or assets may cover this, but in many cases additional funding will be necessary to help establish and continue the operations of the new businesses. In many cases, assisting with a business plan and training, or even covering startup costs, is not sufficient to get a business going. Often, hands-on practical assistance and mentoring, especially in early stages before things become routine, is critical.