The business and economic development center of Midland College provides assistance to small businesses. Written for use by future and current small business owners and entrepreneurs living in a 17-county area of the Permian Basin of Texas, this guidebook describes the procedures for developing a business plan and for successfully starting and operating a small business. Information is provided on: (1) pre-business considerations; (2) protecting the product; (3) developing a business plan; (4) financial ratios; (5) the business organization, including sole proprietorships, partnerships, limited partnerships, and corporations; (6) seeking legal and professional advice; (7) sources of funds, including venture capital, the Small Business Administration, small business investment companies, and grants; (8) sources of assistance and information, including chambers of commerce, colleges, export assistance centers, the Private Industry Council, and small business development centers; (9) permits and registration; (10) the Universal Product Code; (11) federal taxes; (12) federal labor laws; (13) federal government contracts; (14) state taxes including unemployment tax; and (15) state liquor licences. The report recommends establishing a working relationship with a competent attorney, banker, and accountant; and becoming familiar with relevant federal tax forms and policies. The report concludes with a listing by city of offices in the Permian Basin area responsible for permits and for overseeing the operations of specific types of businesses. (GFW)