I have some money to start a business and I want to know what are the first steps I need to take?

Do you know what kind of business you want to start?

I agree that it would help in providing an answer for you if you would let us know what kind of business it is that you are wanting to start.

No matter what type of business you're interested in starting, you should write a business plan. This is where to start. There are many, many good books out there on how to do this (everything from "Business Plans for Dummies" to more specialized plans for different industries). The business plan will take you through all the key pieces of information you should have and know before starting your business - projecting income and expenses, evaluating competition, etc.

Years before I opened up my retail business, I knew I wanted to be in business for myself. Every time I came up with a new business idea, I would start writing the plan. If I couldn't get the plan to come together, that told me it wasn't the right business plan for me. The plan for my current business is the one that came together and it's been just about 5 years since we opened the doors. :)

Hope this helps!

-Adeena