All a Start-Up Business Needs is a Small Loan

Money: That’s What You Need

Your small business is ready for its start. A small loan can help get it off the ground. (Photo: flickr.com)

Your small business is ready for its start. A small loan can help get it off the ground. (Photo: flickr.com)

When anybody decides to start a business, whether large or small, they must factor in the issue of cash. Without money, a business won’t succeed, let alone lift a few inches from the ground. It isn’t surprising that three-quarters of start-up businesses close within the first year. Many people are left baffled and ask themselves why this happens. Small businesses usually close their doors because they don’t have enough capital to keep things running (lights, gas, Web hosting costs, etc.).

Plan Carefully

Before you start reaching for your credit cards and scheduling interviews with banks to acquire loans, you’ll need to know what your business is and if you possess enough knowledge and passion to build it. What I mean by passion is having enough love and intellect for the field you’re interested in to continue believing in it, even when the money isn’t pouring into your bank account. Here are a few questions to ask yourself:

  • Is my business a store-front, online, or home-based business?
  • Am I offering a product, service, or both?
  • What are the costs for my start-up business?
  • Do I posses enough knowledge and passion to run my business?

These questions are very important to small business success. The costs differ depending upon whether you’re going to have a storefront or home-based business, of course. These days, most businesses operate brick-and-mortar and virtually, offering products and services in person through franchised store placements, throw mail-order and online. Just be careful not to put the cart before the horse. Once you decide in which way to start your business, you can later decide on branching out and using different marketing techniques.

Am I Offering a Product, Service, or Both?

There are lots of businesses that will offer a combination of products and specialized services. You see this type of business function in psychic medium services. They sometimes offer tarot card readings, books, candles and talisman products. Professional speakers will offer their services as well as their own books, tapes and other products to potential customers. Try to answer the question of which your business will offer: a product, a service, or both?

How Much Does it Cost to Get Started?

This question should tie in with the first one, “Is my business a store-front, online or home-based business?” We’ll use an online business as an example. If you decide you want to start a business blog, you will need to factor all of the things necessary to successfully make a profit, or at least break even until things pick up. Web hosting prices could be as little as $80 a year, but others can cost up to $300. The difference in pricing depends on what the Web hosting company’s incentives and benefits are.

Let’s say Web hosting costs $80. You also have to register a domain name for your blog. The cost for a domain name (Web address name) can go for $8.00 at Web sites like GoDaddy.com. Other than the $88.00 spent on a blog URL and hosting, no other costs are needed, other than a computer and Internet connection, of course.

A Small Loan Helps

Even in the case with a small figure of $88, a small online business could use a small loan to help get things rolling. The process isn’t all that difficult. First, seek out places that offer payday loans. In most cases, online cash advance Web sites like Personal Money Store can offer you a small loan that will get your business up and running in no time. These companies will even work with you so that you can decide when to pay them back: one week or two weeks. It’s your choice. Good luck with your new business, and remember that Web sites like Personal Money Store can help.

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