How to start your own business: where to find the money?
Continuing the series, which will help you begin to "work for yourself." In the previous text discussed how to organize their activities and now have to clarify where to find money?
The issue of financing the business often intimidates and hinders even the most ambitious entrepreneurs. World practice novice entrepreneurs to start their business with a loan. Thus, they receive much greater opportunities for a successful start and development.
Of course, if opportunities allow you to start and own funds or to combine several sources of funding.
The most common are:
- Bank credit. This is a loan which is granted by the bank of a contractor to operate. The borrower must provide a bank guarantee that you will repay this loan. This guarantee is most often a bet on any property - property, land, equipment, goods and others.
In addition, the borrower must repay the loan to the bank with interest and deadlines.
- Loan Program to assist businesses. Countryside locally operated various programs to assist small and medium businesses. They lend to better conditions for entrepreneurs (lower interest rates, longer grace period). Besides crediting these programs offer advice on the application procedure for kreyudit and completing the necessary documents.
- Leasing or payment by installments is a convenient form of financing in which you receive the necessary material resources - machines, office equipment, vehicles and more. - As soon as you do not pay for them once, and individual contributions, staggered in time.
Example:
Since I have enough cash to start business, will apply for credit. I checked the conditions of the banks in Pleven and regional programs for lending to private business and decided to submit documents. Will apply for funds to purchase office equipment and to cover the cost of repair and maintenance of vehicles. Part of office
equipment - telephone, fax and computer - will take the payment from a local company.
Plan at a later stage in expanding the business to ask a second loan for the purchase of another lorry with freezer.
Tips:
If you want to apply for credit, look for a program that is right for your business needs and opportunities.
Before you apply for credit, you must prepare business plan in which the lending institution will evaluate.
In the following text will look for an answer to the question: how to make business plan?
Executive Agency for Promotion of Small and Medium Enterprises aims to help small and medium businesses and encourage entrepreneurial activity in the country. Agency issued a manual "How to start and develop small business." There are tips and basic information that every beginner entrepreneur's nice to know. Our team took the trouble to break Handbook of smaller parts that will be published in form of series in eKak-business.
So far we have examined:
- What does it mean to have your own business
- How to start your own business: know what to do
- How to start your own business: what I have
- How to start your own business: the advantages of your location
- How to start your own business, what the market wants
- How to start your own business, what I want to achieve
- How to start your own business: how to organize their activities
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