You could be. One of the biggest challenges for small business owners in need of financing is looking where the odds are in their favor. The Federal Reserve Bank of New York has said the average business owner spends 33 hours trying to secure a loan. I’m convinced much of that time is wasted looking in the wrong places.
If you’re contemplating getting funding for your startup, start by researching your funding options. Once you’ve decided which financing option is best for you, use the following resources to do your homework, find the best company to work with, and position your business as an attractive investment.
So your small business needs access to more money. Whether you have to buy equipment, stock up on inventory, open another location or simply meet payroll, a number of financing options are available. But with so many business loan choices, it’s tough to determine the best one for you, and selecting the wrong option can be a serious misstep. Here are some of the most common financing options, which we’ll explore in more detail below.
If you’re a small business owner, you’re well aware of how many documents you need to apply for a loan. But these financials aren’t just important to have when you’re looking to pay off debt or expand operations--they can help you plan your business, adjust for changes, and understand all the whys and hows of your success. They give you hard-and-fast information and analyses you should never go without.
If you’re weighing your options to get funding for your startup, seriously consider crowdfunding. It’s a great way to rally support around your brand (especially if you have new-to-market products that need a little extra exposure) and get the money you need to grow your business.
When you start a business, it’s inevitable that you’ll need funding: funding for equipment, inventory, payroll, and oh yea, you might want to pay yourself as well! While you’ve got many options to consider for how you’ll get that funding, bootstrapping is one that might move to the top of your list.
Whether you plan to create a crowdfunding campaign, pitch venture capitalists or investors, take out a small business loan, or use your own savings, there are strategies to succeeding in your efforts. Here we have 10 tips guaranteed to make your startup funding a success.
Launching a startup is one thing, but finding funding enough to keep it going through those difficult growing pains can be quite another. If you start a business without enough cash for at least the first year, you could be setting yourself up for failure. Fortunately, there are several funding options for you to consider.
Have a great idea for a small business but need money to launch the idea? Getting a lender to give you a loan isn't as easy as filling out an application. Rather, many lenders are selective in which business loans they approve. Here are five tips to help you secure the small business loan you need.
As a small business owner, you may not have enough revenue to justify hiring a full-fledged human resources department. But this doesn’t mean you can overlook the importance of HR-related tasks. Luckily, there are many companies out there whose mission is to help young businesses like yours tackle the complicated world of HR (without costing you a fortune).