I do not have relatives who are well off or overly willing to co-sign a small business loan with me. My own credit is crap and I am unable to work a second job because I need to take care of my kids. I have a solid business plan, budget, and experience in the field. Any suggestions on getting money for start up.
2006-12-10 14:11:40 · 2 answers · asked by Anonymous in Business & Finance ➔ Small Business
To get started, I suggest contacting the Small Business Administration Financing Page (SBA) – links below. Entrepreneur also offers a great site dedicated to money & finance – see below.
Research, research, research – this cannot be stressed enough. Read as much as you can. Here are some book titles that are relevant:
* Free Money for Small Businesses and Entrepreneurs by Laurie Blum
* Finding Money: The Small Business Guide to Financing (Small Business Series) by Kate Lister, Tom Harnish
* Financing Your Business Dreams With Other People's Money: How and Where to Find Money for Start-Up and Growing Businesses by Harold R. Lacy
* No Cash No Fear: Entrepreneurial Secrets to Starting Any Business with No Money by Terry Allen
* Starting on a Shoestring: Building a Business Without a Bankroll by Arnold S. Goldstein
There are plenty of free informational resources out there. Check the source box for links to articles.
Hope that helps! I wish you much success & happiness in all your ventures!
2006-12-11 03:44:31 · answer #1 · answered by TM Express™ 7 · 0⤊ 0⤋
You should incorporate a company and sell the share to you relatives or friends. It is the best way to generate start up capital.
It is very easy to form a limited company if you know how. If you don't, you can get a lawyer or an accountant to do it for you.
A lawyer would probably charge $1,000. An accountant would probably charge $500. Good luck.
2006-12-10 22:27:16 · answer #2 · answered by Anonymous · 0⤊ 0⤋