how do i start a businessand borrow money?

Answer 1

Go to your local SCORE chapter. It's a free resource center for small business' and has business owners as volunteers that teach there. The Small Business Administration has loan programs as well as a plethora of information on their website. I believe it is www.sba.org Good luck!

Answer 2

It is complicated.

You have 3 business structures.

1. Sole trader. That is you start business and just do it, using your name. Nothing legal needs to be done.
2. Incorporate. This is the main legal option for a business. It limits your liability but increases your tax reporting responsibilities.
3. Partnerships...but only works if you have a partner.

Anyway, most people start a small business as number 1 and then progress to number 2.

You should find an accountant to handle your tax and advise you on the best business structure. Structure 2 can be used in a range of ways to reduce your tax burden.

How to raise money? Notice I said raise not borrow.

There are many ways to raise money. One way is to start small and trade your way up.

Another way is to go to the bank and borrow money. But usually you need an asset to borrow against. For example, if you buy stock for a shop, then that stock is bought with a loan and is used as security by the bank if you can't pay off the loan. You can also take a mortage out against your home and so on. Talk to your bank manager about this and they can advice you.

The other way is investors. There are a number of options, depending on your business idea. One way is to get money from family and friends, make them shareholders, or sell your idea to a business person to invest in.

To raise money you should have a good business plan in which you have worked out how much money you need and how long it will take before your have made the money back.

Answer 3

well if you want start business of your own you can ask for loan from any bank thats far more better option... i am a businessman and i have imports & exports business.. so i been dealing with businessmen all around the world...you can ask for some credit from your bank for 3-4 months and then start a business if you are interested to know what sort of business can earn you such money that you can pay back the loan....then feel free to contact me [e-mail]

Thanks & Regards
Khawja Shams

Answer 4

I found a website that teaches you in steps how to build your business credit. They lowered the price of the e-book so you better jump on it before the price goes back up.

I got one already and its very informative. Just an FYI

go to www.ex-ecutivedecisions.com and click on e-books

Good Luck

Answer 5

Check with your local SBA office. The Small Business Administration is there for just these kinds of questions.