Comments on: Small Business Startup?

By: DMarie

DMarie — Thu, 09 Jul 2009 11:09:59 +0000

Contrary to the previous post, the SBA does not offer grants; they do however have lots of information pertaining to loans. One thing you need to keep in mind is that if you are going to apply for a business loan, you will need to have a business plan in place.

If you haven’t already done so, consider writing a business plan. Many entrepreneurs overlook the necessity of creating a business plan. After all, this is a project that requires much time and deliberation. However, if you’re considering seeking out investors for your business you will need to come up with a business plan.

A business plan supports your theory that your business is destine to succeed. Your goal in writing a business plan is simply to prove that your business has as few risk factors as possible. The more detailed your plan is, the more comfortable potential investors will be in considering investing in your business.

When you write your business plan, you will need to evaluate the profitability of your business, and what you expect your operational expenses to be. You will need to include a profit and loss analysis, and show your potential investors what you expect your assets, liabilities and net worth will be.

In essence, you are giving your potential investors a visual of your businesses potential to succeed in order to convince them to become a financial partner for your business.

The SBA does offer a wide variety of advices and services to people who wish to open their own business… Go to
http://www.sba.gov/smallbusinessplanner/index.html to learn more about what the SBA offers… Good luck in your future endeavors!
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By: smoofus70

smoofus70 — Thu, 09 Jul 2009 10:24:59 +0000

From what I've seen, the only grants for minorities and women are for businesses that help the community and nonprofits. I've never seen a grant that could assist with for-profit businesses, but I could be wrong. There's always the option to get a business loan.
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By: Gerald S

Gerald S — Thu, 09 Jul 2009 09:44:59 +0000

Go to http://www.score.org/index.html and in the upper left hand corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a SCORE counselor to discuss starting your business and loans and grants.

SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA).

SCORE has 389 chapters in locations throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors.
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