Personal Finance Resources » small business loans http://www.newgrantsource.com/blog Solving Your Personal Finance and Small Business Needs... Sun, 09 Aug 2009 16:44:41 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 How to Start Your Own Business http://www.newgrantsource.com/blog/how-to-start-your-own-business http://www.newgrantsource.com/blog/how-to-start-your-own-business#comments Wed, 08 Jul 2009 11:18:32 +0000 admin http://www.newgrantsource.com/blog/?p=1180 In this economy, people are realizing that a job is not such as safe and secure option. As a business owner, you control your income and your future, and there are no income limits. That’s why as a result of current economic conditions, whether out of necessity or interest, there is a big surge in new business development. Millions of people are taking the leap from employee to entrepreneur, and you can too. Here’s how to get the right idea, fund your new idea, and how to start your own business.

How to Start Your Own Business

]]> http://www.newgrantsource.com/blog/how-to-start-your-own-business/feed 0 Starting a Business With No Money http://www.newgrantsource.com/blog/starting-a-business-with-no-money http://www.newgrantsource.com/blog/starting-a-business-with-no-money#comments Thu, 18 Jun 2009 19:36:42 +0000 admin http://www.newgrantsource.com/blog/?p=1126 We recently discussed how starting a business in a recession is not such a bad idea, but how can this be done with no money and no financing lined up? The biggest challenge a new business owner faces is the ability to find the cash they need to get their business up and running. Particularly when there is no track record of success to fall back on, there are limited resources that would be willing to take a chance on someone who thinks they can be successful.

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 Should You Start a Business in a Recession? 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.

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