Chapter 8, Student Web Activity, Economics Today & Tomorrow, Glencoe, 2005

Chapter 8: Business Organizations
"Sister Sue Sells Seashells By the Seashore"

Introduction
Your sister Sue has always loved to collect shells that wash up by your beachfront home. For ten years she's been collecting, and now there are boxes in the attic, boxes in the garage, and boxes in Sue's closet. Sue has thought about selling her seashells to sightseers who come to see the salty seaside, but she doesn't know how to start a business. Since your pickled pepper picking business has prospered, she asks you to give her some business advice. You get her started at the Small Business Administration Web site on the Internet.

Destination Title: Small Business Administration

Note: Clicking on the link above will launch a new browser window.
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Directions
Start at the Small Business Administration Web site.

Find the "Starting" topic and click on it.
Read through the site, taking notes as you go. You may click on topics in this site such as "About SBA," "Tax Topics," "Legal Topics," and "Business Plan Basics" to complete your research.

Using the information you gathered from this site, answer the following questions.

1. What is the mission statement of the SBA?

2. What is a business plan, and what are its components? Why should a business owner have one?

3. What other kinds of assistance, besides financial, can the Small Business Administration provide through different programs?

4. What government regulations can affect a business?

5. Most new businesses need cash for startup supplies. Use this Web site's tips on making an effective presentation to write a proposal to a local banker asking for a small loan to cover startup costs for a small business that you would like to establish.