How to Start a Business

Posts Tagged ‘business’

Question: I need to have a business plan written up for my new startup business?

Is there a service or someone who writes these plans…. I know i should do it myself but I do not have time or the skills. I believe in outsourcing! It would relate to real estate and flipping homes.

Answer: contact SCORE…It is an organization of retired business people who give free help…

In Business, Any Decision Is Better Than No Decision

Every so often a promising entrepreneur seems to freeze in the oncoming headlights and gets run over by his competition. Why is it that his idea which seemed so fundable only months ago fails to dazzle investors today? The team is the same. The company’s market is the same.

Small Business Startup Checklist – Small Business Plan Template Part 5

Question: Anyone have any really good ideas for a business start-up in Western Washington?

I have some ideas of my own, as well as friends & colleagues inputs, but now I am looking elsewhere for fresh new ideas.
Here is some info that might be helpful: total start-up costs…trying to stay well under $8,000.00, would like to start right away, would like to start seeing profits immediately.
If anyone has any good ideas, please let me know.
THANKS!!

Answer: It is very difficult to stay “well under” $8,000, so consider how that limits your choices:

1. You can’t have a business that runs out of a store or office. Equipping a place like that would eat up much of your capital. You need to choose something you can do from your home, at least at first.

2. Most businesses that sell a product are going to be difficult as well, because you will have costs for inventory.

3. An earlier answer suggested a hot dog or pretzel stand, and you might be able to do something like that, but you need a good location, with lots of pedestrian traffic. Mostly, that means you need to be in a large city. If you include Seattle as part of Western Washington, then it might work. But forget about any location that people would have to drive to. No one is going to get in a car to drive to buy a pretzel from a stand. That lets out most suburban locations and all small towns. There is also the problem of weather at this time of year. With winter coming, fewer people will want to eat outside at a stand, and fewer people will be strolling by wherever you set up.

4. So, given your small amount of cash, your best bet is a service business. What do you know how to do? Can you teach a skill? Can you fix or build something? Are you a great baker? Figure out what you know how to do very well, and advertise your service.

Starting a business is hard work and frankly, immediate profits are rare. That’s why more people work for a business than have their own. But it can be done, and I wish you very good luck!!

Broadband spurs new businesses and ideas in Kenya

When Kenyan graduate Roy Wachira, 25, set out to start his first business, he turned to the Internet, whose growth in the east African nation is spawning opportunities unthinkable even a year ago.

Free Start Up Business Ideas: Apartment Locator

Question: Business startup loan/grant?

I am in the process of starting up a small business. I heard that the government offers loans and grants to start new businesses. How does this work, and how do I go about getting one.

Answer: You stand a greater chance of getting a government-guaranteed loan through the Small Business Administration http://www.sba.gov/financing than a government grant. Read the SBA Financing page to learn about criteria needed for borrowing

It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for starting a for-profit business.

One possible exception is for companies developing or exporting agricultural goods, including food and forest product. Another exception could be the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs http://www.sba.gov/aboutsba/sbaprograms/sbir/index.html , which fund the research and development of technological innovation that meets specific government needs.

Your best bet actually will be from the states if they offer grant programs for women (or any other special interest groups — minorities, women, disabled, veterans, etc). Or check with non profit organizations, particularly women organizations if they offer grants. Examples include

Iowa Women’s Foundation http://www.iawf.org/
New Mexico Women’s Foundation http://www.nmwf.org/guidelines.html

Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/mostrequesteditems/CON_FAQ2.html

“The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments.”

Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov – these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.

Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business — THERE’S NONE.

http://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show

Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT – Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program

Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women’s Business Ownership Assistance that are given to those who will create women’s business center that will train women entrepreneurs

For private grants, you may want to check the Foundation Center’s Foundation Grants for Individuals Online http://gtionline.fdncenter.org . It’s a subscription based website ($9.95 per month) but their opening blurb only says that the database is ideal for “students, artists, academic researchers, libraries and financial aid offices.” Entrepreneurs are apparently not one of them, so I take it they also don’t have listings of private foundations who give grants to would-be entrepreneurs.

How your U.S. lawmakers voted this week

How state members of Congress voted on major roll calls in the week that ended Friday.

~JUST MAKE IT~ (small business start up grants)

Question: Refund for business startup expenses with no income?

In 2008, I did not generate any income at all, either from an employer or from my own business start up. I incurred expenses (paid from savings) from efforts to get this business off the ground. If I take deductions for these expenses, my AGI is negative. Does that mean I am entitled to a refund?

Also, is rent for a location considered deductible? What if this location was overseas?

Answer: Rent for the business is deductible. Rent for your home is not.

A negative AGI does not automatically result in a refund. A negative AGI does result in no income tax liability. (In some cases, but not yours, self-employment tax might still apply. Various other taxes, such as the 10% penalty for premature IRA withdrawals might apply.) In any case, you qualify for a refund ONLY if (a) you had income tax withheld from your income (not the case because you had no income), (b) you had sufficient “qualifying income” to receive the “rebate recovery credit” (not the case because you had no income), or (c) you qualify for certain other credits that also generally apply only to persons with income and/or children.

Eastday-Californians open city office

The Bay Area Council, a business-sponsored advocacy organization for the San Francisco Bay Area, has opened its first overseas office in Shanghai, officials said yesterday. The office will promote bilateral trade and investment between the two regions, officials said.

Kochie’s Business Builders: Trading overseas

Question: How do I start-up my own online competition business?

are there any sites that can give me some useful tips/advice because i cannot seem to find any on the subject??

Answer: Can you give us a little more information about what exactly you want to do ?

Competition websites come in various guises ?

This is probably why you’re not getting much response, its to vague.

Ashley

acknowledgedsolutions.co.uk

Business Briefs for June 18

On Wednesday a U.S. District Court judge in Roanoke agreed to speed up the process of approving the personal injury claims received in PCA’s bankruptcy case. In January 2009 salmonella was found in a jar of peanut butter made by PCA. That led to the recall of thousands of food products, several lawsuits and PCA’s bankruptcy. “We will probably need to change the design of our pricing where it …

5th Annual Great Valley Business Plan Competition 2007 – GVTA BPC