Choose an organizational structure
The Encyclopedia of Small Business can help you understand the differences between the structures (C Corporation, Partnership, LLC, S Corporation, Sole Proprietorship, Cooperative). NOLO's Small Business Start-Up Kit will help you choose the best one for your plan.
Business Plans Handbook shows sample plans for a variety of businesses. You can search by structure ("s corporation") to see what types of companies choose each.
Recommended resources
The Small Business Start-Up KitISBN: 9781413327243Publication Date: 2020-02-04The Small Business Start-Up Kit shows you how to: choose a legal structure, choose a location, write an effective business plan, and more.Encyclopedia of Small Business
Call Number: e-bookPublication Date: 2017Use search box on the right side that says within this publication. Search terms such as "C Corporation", Partnership, "Limited Liability", "S Corporation", "Sole Proprietorship", etc.
Business Plans HandbookCall Number: E-bookPublication Date: 2021-07-02Actual business plans compiled by, and aimed at,
entrepreneurs seeking funding for small businesses. Updated with new businesses annually.
Who's on your management team?
Research your competitors (or startups in related industries) to see how they've deployed key personnel and their titles.
Recommended resources
- The Official BoardSearch by company name or browse by industry. Try Stitch Fix.
- Nexis Uni This link opens in a new windowThe Official Board's org charts are available in this database. Click on the database name to open the database, then return to this window to open search of all Official Board content.
- CrunchbaseCompany profiles show who has invested, who they've acquired, and who is part of the current team.
- LinkedInTry looking at the Company Page for a competing organization.
Research salaries in your location
The Bureau of Labor Statistics allows you to search for this information for different states or metropolitan areas.
Use O*NET Online to understand the difference between occupations (such as Industrial Production Managers and Transportation, Storage and Distribution Managers) and how that will affect wages.
Help
Recommended resources
Determine employee benefits & costs
The Bureau of Labor Statistics (BLS) tracks employer costs for offering employee benefits like health insurance or vacation time. This data is updated quarterly.
- Definitions of different types of benefits (via Encyclopedia of Management, 8th ed.)What is a 401(k)? Or life insurance? Or an employee assistance program? This encyclopedia entry explains what these benefits are.
Help
Recommended resources
- Employer costs for employee compensation (BLS.gov)This report shows what percentage of an employee's total compensation package goes to leave, insurance, bonuses, etc.
Determine payroll taxes (e.g., SUTA, WC)
Employers pay taxes on their payroll. These rates differ by state and the employer's industry. Look for the rate for new employers.
Recommended resources
- Current FUTA / SUTA / FICA ratesPayroll company ADP maintains this list of current rates in each state.
Help
Calculate business expenses (e.g., utilities, insurance)
Recommended resources
- Data Axle Reference Solutions This link opens in a new windowFormerly known as ReferenceUSA. Use Advanced Search to create a list of companies in your NAICS and location. Then open company records to find estimated business expenditures for categories such as utilities and insurance.
- Detailed Operating Expenses for Retail Firms (Census)Provides breakdowns of spending for retail firms in spreadsheet form. Updated every 5 years as part of the Economic Census.
- Kauffman Indicators of Entrepreneurship: State Report on Early-Stage Entrepreneurship in the U.S.This think tank examines entrepreneurial activity and support in U.S. states.
- Approve's Business Costs Index for U.S. StatesAggregates data about wages, tax rates, electricity and internet rates to rank states by business costs.
- U.S. Energy Information AdministrationEnergy costs in every state and territory