Business Research
Business research can vary depending on the industry or field. In general, your research should cover the following:
- The product or service you will provide
- Existing and potential demand
- Target customers
- Suppliers
- Marketing and advertising
- Industry and local labor markets
- Funding and financing
- Creating a business plan
- Business structures
- Location
Check out the SizeUpSC tool from the South Carolina Department of Commerce for information about competitive benchmarking, customers, suppliers, marketing, and advertising.
Find industry and local labor market information from the South Carolina Department of Employment and Workforce Development (SCDEW).
Business Funding
Funding a small business or startup can be a tough task. The truth is that there is no free money to start a business. Most business funding is obtained through loans, banks, venture capital/angel investors, or personal savings. The following organizations can help untangle the funding process with reliable information about loans, venture capital, and other sources of equity for businesses:
- U.S. Small Business Administration (SBA) – Helps match lenders to businesses and bank loans.
- SBA Lender Match – Connects businesses to potential lenders that offer SBA-backed funding.
- Southern Rural Development Center – Provides Information for rural areas.
- South Carolina Jobs-Economic Development Authority (JEDA – Helps small businesses grow, expand, and create jobs in the state with loan programs.
- USA.gov – Provides federal information on business financing.
- Small Business Innovation Research (SBIR) – Highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization.
There are also economic development grants for small businesses offered by nonprofits and government programs. Typically, requirements must be met to apply for these grants. Find business grant information and resources at: