A lot of people see the economic downturn as an opportunity to start their own small businesses.
It's not easy. Statistically speaking more than 50 percent of all new businesses will fail within the first few years, but that means some 50 percent will make it. So why not you?
Elizabeth Becker's hobby photography is now her job, but turning her passion into her own small business, Seaport Photography, was a little harder than she expected.
"The biggest advice I would give to someone is to sit down and write out your budget," said Becker.
Because to make money, you have to spend money, from business cards to establishing your own Web site. According to small business analysts, a web site is critical to success, with more than 70 percent of the population linked to the Internet. A huge help for Becker was a computer program, Microsoft's Office Live Small Business, which set up her Web site for free.
"Someone can go in and actually at no cost with the basic office live get a domain name, get a Web site up and running have e-mail and have a presence in the marketplace," said Becker.
But before the Web site, the cards, and the equipment, first and foremost create a business plan. For Becker, it's not as much fun as taking pictures but critical for any business to succeed.
"It's a challenge not only to have the technical skills to be a photographer the artistic skills but then the skills to run a business, and that's a challenge because you wear an awful lot of hats," said Becker.
A recent survey found that more than 70 percent of Americans would like to start their own business. And believe it or not this economic turmoil could be the perfect time to launch, as long as you do your homework before you get started.
ROBERTA ROMERO / KING 5 News
Showing posts with label money to start a small business. Show all posts
Showing posts with label money to start a small business. Show all posts
Tuesday, November 4, 2008
Friday, December 21, 2007
Write a Good Business Plan, Get A Loan
Once your bank account, and those of family and friends, are dimished you will need to get an official Small Business Loan. Before any lending institution will consider you and your business for the loan they need to know who you and your business are. A Business Plan is the necessary document for this process. Read this information and then go to my website to find out about loans and other money topics.
Your Success Is Our Success
Toni
TelecommutingPro
=-=-=-=-=-=-=
A Business Plan That Will Get You a Loan
An entrepreneur seeks advice on writing a business plan that will land a bank loan.
Whether you need a small loan from a bank or an investment in the millions from a venture capitalist, your business plan should be thorough.
Getting all of your ideas down on paper will help you to identify the core aspects of your business, including your competition and the existing marketplace for your product or services.
Your Success Is Our Success
Toni
TelecommutingPro
=-=-=-=-=-=-=
A Business Plan That Will Get You a Loan
An entrepreneur seeks advice on writing a business plan that will land a bank loan.
Whether you need a small loan from a bank or an investment in the millions from a venture capitalist, your business plan should be thorough.
Getting all of your ideas down on paper will help you to identify the core aspects of your business, including your competition and the existing marketplace for your product or services.
Sunday, December 16, 2007
How To Get A Startup Loan
In order to start up your small business, or need a shot in the arm to keep it going, here is an article that will assist you in your efforts to get a small business loan.
Your Success Is Our Success
Toni
TelecommutingPro
=-=-=-=-=-=-=-=-=-=-=
Small Business Startup Loan
Small business startup loans are essential for many beginner entrepreneurs. For them, a small business startup loan plays a vital role in providing the business owner a help in building their newly-established business until theirs can already stand alone. This load can be utilized for additional products. It can also be used for business promotion and for employees salaries. Whatever way, a loan is necessary for newly-opened business to poise their venture towards success.
Borrowing money from family and close friends are one of the most common ways to get a loan. This business practice overwhelmed the majority of small business owners to be used as an additional capital and other necessity for newly-established business. It is unfortunate however, this type of small business startup loan causes undue stress, headaches in both parties especially when the process of payment is not that organize. In fact, it can extend to ruining of family relationship. Borrowing from family and friends can also lead to awkward scenario because sometimes, the ones who loan the amount think that they are part of the business and they have the right to manage your business.
Though banks offer small business owners alternatives for small business startup loans, this medium can be stressful and intimidating. The reason is, banks usually impose strict requirements for compliance for small and medium business startup loan. Another is, banks, as always, see to it that the one who borrows, must have or is proven to had been in a successful venture in the past to determine if the borrower has the capacity to settle their obligations when they have already gone through the bank financial assistance. For that reason, numbers of business entrepreneurs chose other option instead of this. Though, banks offer great source for a small business venture, they must also provide a much better and less-stress alternatives for small business beginners.
Using credit card is another option that small business startup owner are turning into to provide them with business capital. Of course, this allows them to utilize their cash advances available for them. To add, credit lines can also be used to buy the products for them to get started. It is common for small business startup owners to use this medium to get capital. However, before getting into this way for small startup way, it is important to note the rate of interests that abound on using these credit cards; neglecting to consider the rate of interest can bring your business in downward slope.
If you are a minority that needs to begin a new business, you can acquire minority loans to help you get the necessary capital you need to start your new business venture. Minority loans have various advantages. If you begin your business based on minority loans, you will also need to find other loan avenues for an added sense of financial foundation.
Small business startup plays a vital role for the total economy. In fact, it provides employments for the majority of people. This may be the reason why more and more individuals are getting into this endeavor- this offers great potentials for economic boom, as a whole. With tis fact, it must be noted that when you engage in this business, business beginners shall consider to choose which small business startup loan that suits best for your own because this paves the way to your business success.
Author: kokuj1n
Your Success Is Our Success
Toni
TelecommutingPro
=-=-=-=-=-=-=-=-=-=-=
Small Business Startup Loan
Small business startup loans are essential for many beginner entrepreneurs. For them, a small business startup loan plays a vital role in providing the business owner a help in building their newly-established business until theirs can already stand alone. This load can be utilized for additional products. It can also be used for business promotion and for employees salaries. Whatever way, a loan is necessary for newly-opened business to poise their venture towards success.
Borrowing money from family and close friends are one of the most common ways to get a loan. This business practice overwhelmed the majority of small business owners to be used as an additional capital and other necessity for newly-established business. It is unfortunate however, this type of small business startup loan causes undue stress, headaches in both parties especially when the process of payment is not that organize. In fact, it can extend to ruining of family relationship. Borrowing from family and friends can also lead to awkward scenario because sometimes, the ones who loan the amount think that they are part of the business and they have the right to manage your business.
Though banks offer small business owners alternatives for small business startup loans, this medium can be stressful and intimidating. The reason is, banks usually impose strict requirements for compliance for small and medium business startup loan. Another is, banks, as always, see to it that the one who borrows, must have or is proven to had been in a successful venture in the past to determine if the borrower has the capacity to settle their obligations when they have already gone through the bank financial assistance. For that reason, numbers of business entrepreneurs chose other option instead of this. Though, banks offer great source for a small business venture, they must also provide a much better and less-stress alternatives for small business beginners.
Using credit card is another option that small business startup owner are turning into to provide them with business capital. Of course, this allows them to utilize their cash advances available for them. To add, credit lines can also be used to buy the products for them to get started. It is common for small business startup owners to use this medium to get capital. However, before getting into this way for small startup way, it is important to note the rate of interests that abound on using these credit cards; neglecting to consider the rate of interest can bring your business in downward slope.
If you are a minority that needs to begin a new business, you can acquire minority loans to help you get the necessary capital you need to start your new business venture. Minority loans have various advantages. If you begin your business based on minority loans, you will also need to find other loan avenues for an added sense of financial foundation.
Small business startup plays a vital role for the total economy. In fact, it provides employments for the majority of people. This may be the reason why more and more individuals are getting into this endeavor- this offers great potentials for economic boom, as a whole. With tis fact, it must be noted that when you engage in this business, business beginners shall consider to choose which small business startup loan that suits best for your own because this paves the way to your business success.
Author: kokuj1n
Sunday, October 21, 2007
Small Business Loans
Here is some advice on what is required to secure a small business loan.
Your Success Is Our Success
Toni
TelecommutingPro
=-=-=-=-=-=-=-=-=-=-
Small Business Loans - Know the Requirements
Posted in: loans in makemoneyclub's Blog
Every American dreams of having their own business and while most of us will never be corporate giants, many of us can more easily achieve the goal of having our own small business. It will certainly mean a dedication of energy and a commitment of long hours to make this dream a reality, but what most of us don't realize is that it will also require a small business loan. We may need some initial funding to open the doors on our new hardware store or barber shop or we may require a small business loan to keep our gardening center operating through the long winter season.
Whatever the reasons for our small business loan there are certain requirements that any bank or financial institution will ask us to meet before they lend us back some of the money that we have deposited with them over the years. Those requirements can be summed up as being eligible and creditworthy in the eyes of the banks and financial institutions. Once we can do that we can then be eligible for a number of forms of small business loans in order to be successful entrepreneurs.
The Small Business Administration of the federal government is one source of funds for small business loans. They make available guaranteed amounts of money for banks to provide to small businesses who meet the criteria noted above. One of the most common small business loans is called a 7 (a) loan. This refers to section 7 (a) of the Small Business Act and authorizes the agency to provide a series of financial assistance options to owners of small businesses. Banks and other commercial lending institutions can access these funds to provide them to eligible small businesses and while the bank lends the money, the Small Business Administration guarantees payment if the lender defaults on the loan. To become eligible for a small business loan the business must be able to show that it has the capacity to pay back any monies that are borrowed. That means that a company must be able to show proof of revenue and customers to the bank in sufficient quantities that they can no longer continue to operate but can also pay back any monies borrowed at the same time.
Once this information is presented to the bank they can then make a judgment on the eligibility of the small business loan request.The second criteria, being creditworthy, is a little more complex and involves research by the bank on the company and its principals to see if they have a proven track record of paying their bills in the past. One document that may be requested is called a "Statement of Personal History" from each owner or operator of the company to verify this information.
Your Success Is Our Success
Toni
TelecommutingPro
=-=-=-=-=-=-=-=-=-=-
Small Business Loans - Know the Requirements
Posted in: loans in makemoneyclub's Blog
Every American dreams of having their own business and while most of us will never be corporate giants, many of us can more easily achieve the goal of having our own small business. It will certainly mean a dedication of energy and a commitment of long hours to make this dream a reality, but what most of us don't realize is that it will also require a small business loan. We may need some initial funding to open the doors on our new hardware store or barber shop or we may require a small business loan to keep our gardening center operating through the long winter season.
Whatever the reasons for our small business loan there are certain requirements that any bank or financial institution will ask us to meet before they lend us back some of the money that we have deposited with them over the years. Those requirements can be summed up as being eligible and creditworthy in the eyes of the banks and financial institutions. Once we can do that we can then be eligible for a number of forms of small business loans in order to be successful entrepreneurs.
The Small Business Administration of the federal government is one source of funds for small business loans. They make available guaranteed amounts of money for banks to provide to small businesses who meet the criteria noted above. One of the most common small business loans is called a 7 (a) loan. This refers to section 7 (a) of the Small Business Act and authorizes the agency to provide a series of financial assistance options to owners of small businesses. Banks and other commercial lending institutions can access these funds to provide them to eligible small businesses and while the bank lends the money, the Small Business Administration guarantees payment if the lender defaults on the loan. To become eligible for a small business loan the business must be able to show that it has the capacity to pay back any monies that are borrowed. That means that a company must be able to show proof of revenue and customers to the bank in sufficient quantities that they can no longer continue to operate but can also pay back any monies borrowed at the same time.
Once this information is presented to the bank they can then make a judgment on the eligibility of the small business loan request.The second criteria, being creditworthy, is a little more complex and involves research by the bank on the company and its principals to see if they have a proven track record of paying their bills in the past. One document that may be requested is called a "Statement of Personal History" from each owner or operator of the company to verify this information.
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