Accounting & Finance
Do You Need a Business Loan for Your Start Up
You may have been having some difficulty procuring a business loan for your start up. In difficult economic times this happens frequently.

You may have been having some difficulty procuring a business loan for your start up. In difficult economic times this happens frequently. But that doesn’t mean you cannot start that business you always wanted. Ask yourself if you really need a business loan for your start up.
The first thing you may have to do is tighten your budget at home. You can’t start out if you have zero credit and have a bunch of debts and maxed out credit cards. So look at your finances right now. Are you living as modestly as you can? Are your bills paid and up to date? Do you have anything to fall back on in case of emergency?
If your reasons for starting this business are sound, and you have the support of family and friends, you should then make a realistic list of what your estimated start up costs will be. Then it is time to start paring down the list to make it more manageable. You can start your business on a shoestring if you get your finances, without loans…even from family.
The easiest way to do this is to start as small as possible. More than likely, you will have to start your business in your own home. You can use a basement, garage, or even just your home office, if it is a service connected business or an online business. If necessary, set up a desk and file cabinet in a corner of the bedroom or family room. Make that move to a storefront or an office building after you have regular money coming in.
You need to start with very low budget advertising. Word of mouth is the cheapest and one of the most dependable ways to advertise. People trust the recommendations of their friends! And don’t forget business groups like the Chamber of Commerce. For a yearly fee, you will get lots of chances to network, meet the right people, and advertise your business.
Go to every meeting, gathering and party with plenty of business cards and any brochures or flyers you have invested in. If a sample of your work is easily transported, bring that, too. You cannot be shy about this…get the word out whenever you have an opportunity.
- Social Media3 years ago
Top 5 Advantages and Disadvantages of Social Media Marketing
- Management8 years ago
The man who destroyed his multimillion dollar company in 10 seconds
- Management3 years ago
The Five Common Materials Used to Manufacture Reusable Grocery Bags
- Management8 years ago
If you fail to plan, you plan to fail
- Management2 years ago
Unexpected Death of a Business Owner: What Happens Now?
- Accounting & Finance8 years ago
Do You Have a Poverty Mentality?
- Management8 years ago
Workforce Planning – Balancing Demand and Supply
- Innovation4 years ago
5 Ways How Globalization Impacts Small Businesses
- Management2 years ago
Have An Eye for Eyewear? Here’s How to Start Your Own Optical Business
- Management3 years ago
7 Essential Tips For Opening a Mechanic Shop
- Management2 years ago
The Importance of Presentation Skills in Business
- Management3 years ago
Pros and Cons of Offshoring