Personal Finance Resources » starting a business http://www.newgrantsource.com/blog Solving Your Personal Finance and Small Business Needs... Fri, 20 Aug 2010 12:59:06 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 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 2 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.

]]> http://www.newgrantsource.com/blog/should-you-start-a-business-in-a-recession/feed 1 Grants for Start Up Businesses http://www.newgrantsource.com/blog/grants-for-start-up-businesses http://www.newgrantsource.com/blog/grants-for-start-up-businesses#comments Tue, 13 Jan 2009 19:34:54 +0000 admin http://www.newgrantsource.com/blog/?p=343 grants for start upNeed cash for your new small business idea? Grants for start up businesses are available to citizens who may not actually have a business yet. With a well thought out plan that shows how you expect to profit and grow your business, individuals may be eligible to receive $50,000 or more in free grant money from the government and various private foundations to help turn ideas into real profits.

If you are at least 18 years old, individuals can apply for grant money to help with Phase I of the business planning and obtain  funding to launch the new project. If the business is already in place, there are a number of government and private foundations that can help you withe financing needed to expand as well.

Available Grants for Start Up Businesses

  • Funding to Create Your Product
  • Cash for Office Space
  • Grant Money for Minority Business Women
  • Help Making Payroll
  • Start a Daycare or Home-Base Business

While there is considerable risk with starting a business, even if you venture fails grant money typically does not have to be paid back. You won’t find those terms with traditional small business loans, where you are obligated to pay back every penny regardless if your business fails or succeeds.

Finding grants for start up businesses can be easy with access an up-to-date grant database. Just enter your criteria to search for the available grants, and you’ll instantly see the funding programs that can be applied for today.

Business owners can find grants offered at the national and state level that have the most funding available, but it might be easier to qualify for the small business grants that are offered by local government agencies. Not only do they have the greatest interest in the success of your business, but many people do not know these resources exist.

By obtaining these funds, business owners can get a little financial help to successfully launch their new business. The money obtained may not cover all expenses, but receiving tax-free money can be a big help when it comes to making the leap to become an entrepreneur.

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