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10 MORE Ways to Make Money with your Digital Cameras
1. Pet photos - advertise a Pet Photography business where you photograph pets with their owners. Most owners won't struggle to take a photograph with their pet all by themselves. You can be the one who makes it easy on them. Not only can you...
Get Off Your Butt and Out of the Rut
It's amazing to see so many people who are prepared to sacrifice their lives for the sake of their careers. I'm sure you know of someone like that. They get up at the crack of dawn, drag their weary bodies out of the house and head off for another...
Making Your Purpose Your Business, Step#1
Step#1- Discovering Your Purpose
There is no such thing as a “small” job. Each function within our society aids our detailed technical lifestyles and well being. From a store clerk to a business executive, each position is an intricate part...
Some general information about the small business organisation
Many of the larger businesses in the UK are public limited
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Who Said Small Business Was Fun and Freedom
Who Said Small Business Was Fun and Freedom Learn from Nature - How to Win Fun and Freedom You're working all hours and have no friends or hobbies. Your family think you're a distant relative. You complain about not being able to find time to...
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The Top 6 Ways to get Home Business Financing
Once you have identified the ‘big ticket’ business idea that is going to work for you, it starts raining fire to get appropriate financing for your project. The keystone to building a successful business is your ability to raise hard cold cash. You may be planning a shoestring budget for your start up but even then every business needs some working capital for building inventory, registration fees, insurance, for buying office equipment, maybe even space. For a smart home business owner there are several ways to raise capital for the start-up.
We have summed up some of the most obvious ideas for funding and some not –so-obvious ones as well. If you have a robust business plan at hand and can identify what is the best source of raising capital for you, it shouldn’t be all that difficult to get someone to show you the way to the vault.
1. SBA Loans: The Small Business Administration is a government organization working towards promoting the small and home business segment in the US. Though SBA doesn’t issue grants or make loans directly, it is still one of the best sources of funding for the home business owner. The reason is that SBA guarantees loans made by private lenders to you as a home business owner. One of the biggest problems you will face as a home based entrepreneur looking for funding is trying to prove you are not a fraud and have the capability to return the investors’ money. So the SBA guarantee reduces or eliminates the risk inherent in a new business venture, gives credibility to your business and makes it easy for moneylenders to forward money to you.
For more information visit the SBA site at:
http://www.sba.gov
http://www.sba.gov/financing/index.html
2. Commercial banks: Taking a loan from a bank is a good option because banks don’t require you to turn over equity or company control. However, you must have the confidence and a strong plan to make your business start making profits regularly or else it can get sticky paying the bank loan back. To get access to bank loans you have to have collaterals and must be able to prove your capability in your start up area.
3. Personal Saving: This is a favorite with a large percentage of first time entrepreneurs because it is the easiest way to get money (if you have it!), and you have no liability to any outside lenders. So if you’ve been planning for your home business all along and have set some money aside, use that to kick start your venture. An ex-colleague who turned a home business owner recently decided to have a garage sale of all the stuff they didn’t need in the house anymore. I kid
you not…they raised a sizeable sum in just one weekend!
4. Family and friends: Borrowing from family or friends is a good idea when the amount you need is relatively small. It can be clubbed with part of your own savings and novel fund raising ideas like a garage sale to help finance your business. This is an easy way to raise funds, as these are the people who know you well and need fewer assurances. It is also unlikely that they will drag you to a court if your business takes longer to get profitable and repayment is delayed. But take care that money does not sour your relationships; be professional in your dealings with them and get a formal agreement drawn up in order to put the terms of the loan in writing.
5. Venture Capitalists: Venture capitalists are professional investors who may be in charge of a large pool of capital gathered from a range of sources. These firms invest in new, even high-risk or speculative businesses without a proven track record, with the potential for rapid growth and high returns in a short time. Take a look at www.vfinance.com to get you started on this line of credit.
6. Angel Investors: Angels investors are relative to venture capitalists and usually less demanding in the returns they expect. These are private investors who expect their investments to make more money than through the traditional markets. An angel investor could be your doctor, accountant or attorney who seek out new businesses to invest in return for equity ownership. Also see: www.angel-investor-news.com
Some other good sources of funding are Industrial banks, home equity loans and loans on credit cards. Some other not so obvious ways of raising capital can be equipment leasing and advertising. Another area, which you can explore, is personal grants from corporates. For more information take a look at http://www.fdncenter.org/funders/grantmaker/index.html
So arm yourself with a solid business plan, determination and the right kind of information on what investors are looking for. You will hit the ground running with some of these ideas above.
Daegan Smith is the Ex-NCAA Wrestler Turned Webmaster of Perfect Home Based Business Opportunities - The Net’s Top Growing Source for Home Business Information.
Attention: Webmasters & Web Publishers Make Money with our Free Home Business Content for Reprint at Free Web Site Content
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| United States Small Business Administration |
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| Business & Small Business |
| Online and print small business publication. Information to help start, grow or manage a small business. |
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| Microsoft Small Business Center |
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| Small Business and Self-Employed One-Stop Resource |
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| BC Business Services offers assistance and resources for those running or starting a business in British Columbia and Vancouver. |
| www.smallbusinessbc.ca |
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| Small Business Service | Home |
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| www.sbs.gov.uk |
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| NSW Small Business |
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| Small Business Funding Opportunities (SBIR and STTR) |
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| Small Business Development Corporation |
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