How to Start Your Own Business

Watch below on how starting a business with no money can be possible:

If your plan is to run a home-based business or another model that does not require any up-front cash, then you are in good shape. Not only can you start right away, but that limits any risk in failure. However, most businesses require at least some startup capital, whether it is just to purchase office equipment, finance office space or hire employees.

Whatever the case, with a solid business plan and determination, it can be possible to run your own show without any money. Whether you are resourceful enough to do it with no out of pocket expenses is another story, but it is possible.

]]> http://www.newgrantsource.com/blog/starting-a-business-with-no-money/feed 0 http://www.newgrantsource.com/blog/should-you-start-a-business-in-a-recession http://www.newgrantsource.com/blog/should-you-start-a-business-in-a-recession#comments Tue, 16 Jun 2009 01:20:00 +0000 admin http://www.newgrantsource.com/blog/?p=1125 If you’ve ever thought about starting your own business before, there may be no better time than now. A recession tends to bring out the creativity in others and pushes people to take chances that they may not otherwise take. Maybe it is a result of necessity or just a desire to make a little extra money, but the idea of starting your own business during a recession is not such a poor decision as one would think.

Small business is the backbone to the American economy. It always has been and always will. Because every individual has an opportunity to be their own boss and build a profitable business, there is an unbelievable amount of support for helping small business owners succeed. And when you do, you’ll realize just how great it can be to run your own show rather than making someone else rich.

That’s not to say there isn’t any risk with making the transition from employee to entrepreneur. There can be incredible risk involved. Unless your new venture is run during your spare time, you may need to fore go a regular income, take out large amounts of debt, and work tirelessly to turn a profit.

But with the recession comes many opportunities. While credit is tight, there are many markets that can be tapped in to that tend to do well regardless if the economy is hurting or flourishing. The important things to keep in mind are:

1. You don’t need to re-invent the wheel. Mimic what has already proven to be a successful and profitable business model.
2. Make sure you do exhaustive market research in order to minimize your risks
3. Get all of your necessary licenses and make sure there are no legal restrictions
4. Create a killer business plan to help you line up necessary funding

One great resource you can access online is Entrepreneur.com’s, 7 Important Startup Steps, which provides you with a checklist and detail on how to go from conception to launching your new endeavor. By following this brief guide and using some of the other resources found on this site, new and existing business owners can get some solid tips on making sure they achieve success.

If you are determined enough to locate the local government agencies that offer this assistance in your area, and determine which types of funding you are eligible to qualify for, there is a great possibility that you can begin operating your new business establishment within as little as a few weeks, without having to spend a single cent out of pocket to cover your start up costs.

There are two basic procedures used while utilizing business government loans. The first, and usually applied to businesses of smaller capacities, is a direct government business loan. This is a moderately sized, repayable cash award that is given directly from the government to you. The interest rate is favorable low and payments are made directly to the government. In some cases the monthly payment amount will fluctuate accordingly to profit margin, of course requiring you to provide monthly progress reports on your business to the government. You, in some instances, may be able to make a pre-set payment amount agreement and forgo the monthly reports all together.

The second commonly applied procedure is to acquire a government secured bank loan. This is a practice generally executed when negotiating business government loans with larger businesses or corporations. This procedure is a bit different. The government itself does not actually loan you the funds. What they do instead is guarantee an outside lender that if you are to default on your loan, the government will back you up and foot the bill. Perhaps not entirely, but depending upon the strength and odds of success your business proves to show, it can sometimes be up to one hundred percent. The larger your government backing, the lower your interest rate will be. In either case, government secured business loans will eliminate the requirement for collateral.

The third and most desirable form of government financial aid is the business grant. While much more difficult to achieve than business government loans, they are much more favorable investment opportunities because they are loans from the government that you don’t ever have to repay. Virtually free government money that is invested into developing your business. The grant writing process is long, tedious, and very detailed, but the rewards are too great to dismiss the opportunity of achieving one, or several government small business grants.

Depending upon exactly what type of business you are interested in establishing, you may qualify for one, two, or even all three of these magnificent free government money opportunities to help get your business up and running. The government is more than willing to help you… let them.

No matter how promising your well thought out business plan may appear to be on paper, and how much hope and faith you may have in your potential success, it is not always as easy to convince lenders of your capabilities. A majority of banks and credit unions will require some form of collateral as a condition of financing, or they may charge additional interest in lieu of material security deposits.

However, should you choose to look to the United States government for financial assistance, a government business loan will most likely be a much more attractive option when investigating investment options.

In many cases, the government will award low interest cash loans directly to the qualified applicants. This method of financing is generally practiced among the small to moderate sized establishments who request small business loans. A simple procedure to create a simple business is ultimately the way it works, eliminating the middle man and enabling a direct payment plan between Uncle Sam and the new business owner or proprietor. In instances where the applicant is embarking on a much larger and expensive endeavor, the government may not be so willing to hand over the money, but, they are still willing to assist you in acquiring it.

For establishments and corporations that require exorbitant amounts of start up funding, the government is often willing to provide government secured bank loans. What this means is that even though the United States government may not be able, or willing to allow you the government business loan that you need out of their funds, they will be willing to guarantee an outside lender, that if you become unable to repay your loan, they may back you.

The government sometimes will back the loan of a promising business proposition up to one hundred percent, creating the opportunity for the borrow to achieve the very lowest interest fees possible, and not having to provide any form of collateral.

The government is willing to help American citizens much more than most people realize. Particularly those who show promise to succeed in the business community because they provide jobs to community members, support American economy, and increase tax revenue. So look to the US government when embarking on any new business ventures, before signing your life away to high interest lenders. A government business loan can make your start up costs, and stresses, a whole lot easier.

What’s even more amazing is that nearly everyone is qualified to apply for these programs. Most people who are American citizens over the age of eighteen are eligible to apply for cash awards in up to tens of thousands of dollars in new business grants and don’t even know it. If you are one of these people, sick of working for someone else, perhaps an online search of available funding in your area is in order. That’s what I did and the opportunities I found myself potentially eligible for are astounding. In one simple search I found so many types of funding, for so many types of businesses, or careers that I would be interested in pursuing.

I’m going to list only the ones that sparked my individual interests, but I must let you know that in addition to these, there are literally dozens of other potential business opportunities one can take advantage of while utilizing funding made possible by new business grants.

Grants for Day Care Centers – You can receive funding to establish an at home or facility based day care center. Cash awards may be funded to purchase books, toys, nutritional and dietary training, staffing and staff training, advertising and inspection costs and fees. This type of business may be appealing to parents, like myself, who have a constant need for child care. Imagine being able to work with your child beside you? Incredible.

Grants for Home Based Businesses – This is amazing. You can actually receive a business grant, or several, to finance the required equipment and supplies to start a business in your home. You can purchase things like office furniture, computer equipment and software, office supplies, and much more, for your home. The government will actually buy qualified individuals these items in order to enable them to work from home. Providing of course that you have some type of verifiable profit generating business that makes use of said items, but what type of business it is, is entirely up to you to decide.

Grants for Real Estate Development – Wow, you can achieve hundreds of thousands of dollars in free government money to buy, rehabilitate, and then rent or sell property. I was floored to find that the US government actually considers this to be an aid to urban development. They are more than happy to dish out millions to people who prove to be able to rehabilitate their communities and provide quality housing in areas where it’s needed. *This is how Donald trump got started.

In a nutshell, the money is there for the taking. If you are creative and resourceful enough to make what you want or need into a job, then you are creative and resourceful enough to make it into a career and be self employed. And new business grants can get you on your way.

Each year, in efforts to help support a failing economy, the US government literally gives away billions of dollars in government business grants for people just like you and I to create small businesses in US communities. There are also a numerous amount of government business grants available to already established local businesses, large or small, who are wishing to expand, or provide advanced training for their staff members.

This is literally free government money that we’ve all already paid for in taxes, so you never need to pay it back. Ever. Although it may seem to good to be true, the government is actually required to give this money away to anyone, of any race, heritage, religion, or sex. As a US taxpayer, you may be entitled to some of this cash. Government business grants are one of the government’s ways of insuring future job opportunities to American citizens, as well as effortlessly contributing to urban development. It’s more of an investment rather than a “hand out”.

Small businesses drive the economy by providing paid services to their communities, which in turn generate profits for the owner, tax revenue for the government, and in many cases more jobs for local community members. For these reasons, the government is more than willing to distribute these funds in government business grants to individuals who prove to have a solid and well thought out business plan. It’s also somewhat of an insurance policy held by all taxpaying American citizens. Even if you’re unaware of it, you’ve already paid for these grants in tax money so it would be there when you need it. Take advantage of it!

If you are an American taxpaying citizen, over the age of eighteen, there are very few requirements to qualify for numerous amounts of government business grants to get you up and running, or expand your already existing local business. Again, this is free government money, and you will never be obligated to pay it back. With a solid and enterprising business plan you are more than likely to acquire the funds you need within a matter of weeks.

If you have an interest in starting or expanding your own business, before you commence the traditional procedure of business establishment by taking out high interest loans, explore the possibility of obtaining government business grants. Isn’t utilizing free government money a better way to start than instant debt?

One of the richest men, and most prominent real estate investors in American history actually got his start by utilizing government business grant programs. And still does! He made his first million (and billions to follow) on free government money, by rehabbing and reselling government properties in Cincinnati, Ohio. Now look at him.

Bill Gates is another one. Another millionaire who received funding through government business grants yet still sports an atrocious hair cut. You’d think these guys could afford a decent stylist since they have  more than successfully benefited from free government money. This guy acquires enough government grant money to help create Microsoft, makes a gazillion dollars, and still looks like his wife puts a bowl over his head to cut his hair. I think that him and Trump should get themselves a business grant to establish a barber college.

Ross Perot, finally someone who appears to have visited a real barber on a regular basis. His ears are certainly something, but I guess there’s not much that can be done about those. Ross Perot made millions of dollars selling businesses he created partly with the use of government business grants, loans and contracts.

What is the difference between these men and you? Besides the lack of interest in fashionable contemporary hair styles and billions of dollars, not much. These business tycoons started off the same as you and I. With little more than ideas, dreams, and motivation. They difference is, they knew where to look for free government money. Anyone like you or I could become every bit as successful as Ross, or Trump, or Gates are if we apply ourselves to succeed and take advantage of all the free grant programs that the US government has made available to us. Government business grants can be acquired by any tax paying citizens over the age of eighteen and you can acquire several. As many as you are eligible to obtain.

If you take the time and effort to research the virtual hundreds of options in free government business grants available to you, you very well could become the next Donald Trump!

Not only is it required by the government to award this free grant money to taxpayers, it is also a significant tax write off for the private institutions that offer small business grants and home grants. In addition, by offering business and home grants to American citizens, the government is actually investing in the equity of our under developed communities, while minimizing their own physical participation in the process. The free government money is awarded to citizens to develop the communities our selves.

By law, the government is required to set aside these funds, to be given away each year to tax paying citizens. By providing American citizens who apply for free government money with grants to start a business, or home grants for property purchases, remodeling, or maintenance, they are essentially investing directly into the urban development of those areas.

For instance, if the government awards you a grant to buy a home, then another to improve that home, this is an insurance policy for them. They know that if you are given free grant money to buy a home or improve your home, this will help to bring up property values in your neighborhood, hence enriching the community. In respect to urban development, it is in the governments best interests to distribute these home grants. Even more so for small business grants.

The government takes a particular interest in small business grants. These are an even better source of urban development investment. Federal agencies couldn’t be more willing to award free grant money to business owners or those who desire to become one. Simply, because small businesses help drive the economy. Small business grants are a preferred method of financial aid distribution for the government because they can potentially lead to quite profitable results for both the recipient and the community, and even the government itself.

By acquiring a small business grant to start or expand a business you are essentially helping your community. The government sees that by helping you create or expand a business will generate traffic through the community, promotes better employment opportunities and builds equity in our neighborhoods. This ultimately means that the government will reap the rewards of their investment in you in taxes. While you reap the rewards as well, without ever paying it back.

So in conclusion, don’t feel like the government is doing you a favor by giving you free grant money. You’re doing us all a favor by taking it!

When looking to acquire financial assistance, you should first put together a list of government business loans and financing programs for which you may qualify. There is an abundance of resources available to you on the inter net to begin your search and learn more about the small business financing programs provided by the government as well as many private and non for profit organizations who offer small business loans.

There are virtually hundreds of government loans available for today’s small business owner. And even some for the not so small. Each government loan program has it’s own individual and unique application process and requirements for qualification. Still, the majority of lenders ask for similar information on all applications. Before applying for a loan, you’ll need gather together some basic documentation that will be required in any government business loan package. You should be able to establish what your basic documentation includes in the initial stages of your search for government business loans, but some of the things that will be required in any basic application are;

• What is your purpose in requesting this loan?
• How do you intend to utilize the funds received?
• Do you currently have any other forms of business debt?
• If so, to whom? Who are your creditors?
• Will you/do you possess sole ownership and responsibility? Or have a partner/management team?
• If you DO have a partner or management team, you may need to make their information available as well.

You will also be required to provide some personal background information such as;

• Former names
• Addresses
• Employers
• Criminal records
• Educational background

You may have to provide a current resume, and most definitely a solid business plan. There are quite a few other basic documents you’ll need to properly apply for all government business loans, these examples are the bare basics. As mentioned, there are certain to be a few others requirements that will be more specific to the particular loans you choose to apply for. Now that you have the basic information, you are ready to do your homework and get out there and apply.