Am currently in business and I started with very little capital, and its really causing me to be in debts help

Question

I deal with indenting whereby I do marketing for international companies and get paid on commission. since am still new in the market I have to wait for a long time before I get the next commission. How can I be helped? Can I get a sponsor to help me for like 3 months, by paying my rent of US$ 200 per month

Answer 1

Lack of sufficient startup capital is one of the main reasons most businesses don't last more than 1 year. Raising the startup capital is can be challenging because you need to be able to clearly articulate your business plan. You need to know how much you will spend, how much money you are likely to make in the next year, 2 years and 5 years. You also need to demonstrate an understanding of the risks and have a strategy to acheive everything you set out to do.

Once you have that business plan, you search for people to either invest in the company or give you a loan. If you set up your company to be independent of your personal finances (you should always do this), then an investor will lose the money they provide if the business fails. Most likely, though, a loan will be tied, at least partially, to your personal finances as a bank will require a personal guarantee.

Common sources for the initial funding, be it a loan or an investment, are friends and family, banks, angels and venture capitalists. Your business sounds like you'd need to stick to the first two. An "angel" is an individual investor who is willing to invest in an early stage company and not expect a lot of control over how it is run. You might call them suckers but I'm an angel investor in several companies and you can get nice returns sometimes.

Bottom line is to understand your business then start talking to anybody that could help fund you. You make it profitable for them by paying interest on the loan or paying a percentage of the net income.

Answer 2

properly in case you do it you're bootstrapping! in case you went to school for organisation then you definately might want to already understand it is a very undesirable idea, and in case you didnt you should. when you're having doubts then you definately might want to save on such as your instinct. in case you want to augment some capital take a even as to do it and keep keep keep. this can be the worst mistake of your existence and being youthful you dont want to start up your existence that way. you'd be left without credit and no destiny. in case you imagine your going to start up an empire in a espresso save your incorrect! perchance you should in basic terms both receives jobs at one first, develop some funds and learn the ropes. there's no shame in that. i needed to be a hairstylist once and own my own salon some day so I were given a job sweeping hair for $6/hr in basic terms to be around the surroundings and learn a touch. Your likely to youthful to throw your existence away. in case you in common words have $10K then i'm sorry to say yet you're undesirable. those who in common words have $10K are not any further going to blow it on a dream, properly i desire no longer. $10K is more effective like an staggering starter for saving. this does no longer advise you wont have this interior the destiny yet with proper saving, making plans and time you may do it interior the destiny. also, with todays monetary gadget dont imagine you may value someone $2.50 for a espresso and $4 for a bagel to make some income.....they are going to easily eat bagels and drink espresso at living house. area is each thing in a organisation like that, yet you'd be paying out the wazoo for a robust one. Dont do it! also, no monetary organisation is going to lend you $100K in case you in common words have $10K because when you position down the $10K you have not any funds or resources left to pay lower back the month-to-month personal loan!!!!!!!!!!!

Answer 3

Get a second job until your business reaches a point where it can sustain you.

Anyone who opens a business has been in your shoes at some point or another. We do what we have to in order to make our businesses a success and sometimes that means getting a night job

Good Luck

Answer 4

$200 pt work

Answer 5

you could become a part- time ''dancer''