By: Evon L. Davis
Essential Images

Several years ago, I decided to start my company. I had an idea, but had little notion of what was really involved in starting a business. I became a voracious reader of anything business related so as to better equip myself as I moved into this new chapter of my life. I soon found myself exhausted by the amount of energy expended daily and weekly as I conducted research at the library, called agencies, found the appropriate contacts, requested forms, completed forms, found support groups and the like. Over the past few years, I've encountered many people like myself who have plans to start a business but have no idea as to how to begin. I soon began giving them advice as to where to go, how to start, how to find licensing information, and so on. In recent years, I have found that government agencies and related entities have greatly improved how they utilize internet and other technologies to provide the tools needed by entrepreneurs. As a result, it is much easier to locate the resources you need to start, manage and grow your business. This is the first in a series of articles designed to assist those of you who have the desire to move from employee to business owner.

The latest statistics from the U. S. Bureau of the Census indicate that the number of African-American owned businesses have nearly doubled in 10 years, increasing 46% between 1987 and 1992, from 424,164 firms to 620,912 firms, and growing to an estimated 820,000 companies in 1997, a 25.7% increase. Although African-American owned businesses only comprised 4% of the nation's 20.8 million non-farm related businesses in 1997, the number of such companies may continue to increase well into the 21st century. Do you dare to be counted among this new wave of entrepreneurs?

There are varying reasons as to why one may choose to start a business. For many, having one's own business represents a way to express oneself. For others, it fulfills the desire to "be your own boss" or represents a way to achieve financial independence. But, whatever you reason, we will explore whether you have what it takes and how to go about achieving that dream.

Next month:
"Do You Have What It Takes to Be An Entrepreneur?"

Evon L. Davis is the owner of Essential Images, a promotional products and stationery company. She is also a partner in City Heritage, a company that celebrates the multicultural heritage of Philadelphia, Pennsylvania through a line of unique gifts, souvenirs and tours.

Business and Professional Development