What New Business Owners Need To Know As a new business owner, you need to know your federal taxresponsibilities. Table 1 on page 2 can help you learn whatthose responsibilities are. Ask yourself each question listed in thetable, then see the related discussion to find the answer. Table 1 In addition to knowing about federal taxes, you need to make somebasic business decisions. Ask yourself: What are my financial resources? What products and services will I sell? How will I market my products and services? How will I develop a strategic business plan? How will I manage my business on a day-to-day basis? How will I recruit employees? The Small Business Administration (SBA) is a federal agencythat can help you answer questions such as those listed above. Forinformation on how to contact the SBA, see page 23.