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| *The Commerce Journal>>>Small Business |
I wanna start a business but don't have capital? |
I have the idea planned out and it is a very good one but I don't have the capital and I don't want to be screwed if it fails if you know what I mean- It will probably be like 85,000 est. to start it. Where can I get this kind of money? Gee, I guess you've noticed that capitalism works a lot better for people with capital than for people without capital. Well, it depends... Your idea might be really really good and you could find some "angel investors". But most probably, you should work for a few years and start it with your own money. www.SBA.org...or call your local SBA office for information about getting a loan. Only thing is, you will need to have excellent credit as well as demostrated history in the field or industry. If you don't have both, it'll be very difficult to get a loan anywhere. You can also advertise for silent investors however you'll need to have a prospectus or business plan before you do anything. In regard to liability, depends on how you structure the company. I advise you speak with a CPA or lawyer about company structure. check for the best bank rates, with best offer. the only thing i can tell you to reduce your chances of failing, is plan everything out to the details. organize and do your homework, don't leave anything to the chance. Get your masters degree. Try this: http://www.sba.gov/ it has information/suggestions on how to raise capital. The first step is to put you plan in a business plan format...this site has guidance on that too. Good luck! Incorporate...about $50.00 on your own, or up to $500.00 with a lawyer. That limits liability somewhat. Then, issue shares, and sell as many as you can. Advertise your plans, and get people willing to buy shares. Use the money from the shares to implement your plan. If it fails, the most any debtor can take is what is in the corporate treasury. Neither you, or the share holders, will be responsible for more from your own pockets. It's great to want to start your own business and I wish you the best of luck. However, it's not a good sign if you're asking this kind of a question on Yahoo Answers. www.earn997persale.com Start with www.Ebay.com Good places to start withouth any money: |
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