Conduct a feasibility study to begin developing a plan for a new business. Your study will help you forecast the potential for success of the business. This study will become part of your business plan which you will use to justify your proposal to lenders.
A basic business plan includes the following elements (.pdf from Small Business Resource Center).
[Library Resources to use for each element].
Name and Type of Business* [SBRC, IBIS World]
Description of Product/Service* [IBIS World]
Business History & Development*
Location* [Reference USA]
Market Analysis* [Business Decision]
Competition* [Reference USA & Business Decision]
Business Strengths & Weaknesses
Reports on industries. Provides an overview of industries. Includes a definition, the industry supply chain, main activities, and similar/related industries. Also includes helpful details like jargon used in the industry and a glossary.
This site is the national information clearinghouse of the U.S. Small Business Administration and state agencies that are part of the SBA network. Includes information on all aspects of starting and running a small business. Includes market research information, industry information, and much more.
ReferenceUSA is the yellow pages on steroids! Use ReferenceUSA to find competing companies in your geographic area. It is also a great tool for job-searchers. Provides U.S. company information searchable by name, address, ZIP code, SIC code, and yellow page directory listing. Allows 300 prints or downloads per search.