Four cheap resources to jump-start your small business
Filed under: Borrowing, Entrepreneurship, Career
Even though it's a great time to start a small business, it's not a cakewalk. Funding is still an issue, and accurately assessing your business plan is tricky without an objective party. There are plenty of self-proclaimed gurus and experts out there who are willing to take your money in exchange for cookie cutter advice, but don't go paying up just yet. Here are four free or cheap services that will help you launch your small business and hang on long enough to make sure it's seaworthy. Starting a small business requires planning and paperwork and if you haven't hung on to your college textbooks it can be a pain to find quality business forms for free. Thankfully Office Depot has a section of its website dedicated to small business forms. It offers all kinds of forms, including start-up forms, general finance paperwork, federal and state tax forms, worker safety and many other documents. Having started a small business straight out of college, I can definitely say that access to these forms would have been a huge help in getting started.
If you still need some help after working your way through these forms, set up an appointment with your local Small Business Administration office. They can help you get a better understanding of what you'll need to proceed, and will help connect you with other professionals in your area who will be of service. They can even be a good source of funding if you need capital to get off the ground.
Don't stop there; be sure to search for a local center for entrepreneurs. These resource centers, sometimes called start-up incubators, are becoming increasingly common, and leverage the power of a group to help launch small businesses. For a look at a sampling of services available at such a center, check out the numerous services offered by my local center; including shared A/V equipment, financial and legal help, business planning and access to facilities. And this is all available in a village of 4,000 residents!
If you need to secure funding, banks aren't your only resource. Thanks to the Internet, you can connect with investors anywhere who believe in your business plan, and get funded through a peer-to-peer lender. To learn more about this route, check out WalletPop's past coverage of small businesses funded by their customers.
These are just a few of the numerous resources available to potential small business owners. For more information about small businesses, be sure to check out AOL's Small Business section, where you can stay on top of the latest news and trends.
Reader Comments (Page 1 of 1)
6-10-2009 @ 8:39AM
Alameda County said...
Tired of working for other people? Then, Start your own small business Marketing, Decide on the type of business that you would like to run. Check on your resources Attend Seminars Learn from the experts. About Small Business
Small Business Marketing
Alameda County
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6-11-2009 @ 12:52PM
Brandon R Allen said...
Good tips for people starting out. It's good for business owners to be as resourceful as possible when starting out to ensure that they don't sink thousands of dollars into a business venture.
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6-12-2009 @ 9:16AM
Daphne Robinson said...
This is great information. I'm employed full time and also starting a business I'm passionate about, but I definitely need ideas on funding other than banks. I agree with the SBA advice as I wrote out my business plan and visited the SCORE office (branch of the SBA). I had 3 coaches coming at me from many angles and really helped me become more confident in my business, my plans for growth, and my "elevator pitch".
I would say another good source is simply networking with other business owners at the local chamber of commerce or even www.meetup.com. I got to meetup happy hours sometimes, and you meet all sorts of successful people who are just out to socialize...Yale professors to business owners to engineers, etc. I see so much opportunity by not being so task driven but just enjoying conversation and people and the exchange of ideas. The possibilities are really endless.
Thanks for the advice.
Daphne R.
www.careercougar.com
www.careercougar.wordpress.com
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6-14-2009 @ 7:23PM
Mike Clough said...
Good article! As a volunteer SCORE (www.score.org) counselor, I would just like to add to Daphne’s comment (above) that SCORE counselors are available to entrepreneurs just about any place in the 50 states. Counselors are retired business owners and executives. They will advise and mentor you at no cost. And they know where to secure various resources in your area. I used SCORE to help me when I started a business in the late ‘80s. It grew to be a multi-million dollar business. So as a semi-retired executive, I want to give back for the help they gave me. The other SCORE counselors have similar stories. Considering that the SCORE service is free, I can’t imagine why anyone would try to start a business without their advice and assistance.
Best regards to our entrepreneurs as they are the ones that are going to turn things around in this economy and get our country back on track – not the government!
Mike Clough
www.bestbizpractices.org
www.linkedin.com/in/mikeclough
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6-16-2009 @ 12:35AM
Ivan said...
Small business is one of the backbones of the American economy. Granted, small business owners didn't get many bailouts, because they can't afford campaign contributions, but they are still struggling with the recession, as bank loans and normal funding aren't as available as they used to be. Also, with a high taxation rule being threatened for high income earners, the tax laws are going to make it difficult for the small business taxpayer. As hard as it is to start a business in this day and age, and as difficult as any market is to enter, it's a tragic thought that small business owners will need installment loans to pay taxes, on top of the ones they use for financing. Visit http://personalmoneystore.com/moneyblog/2009/06/11/installment-loans-highincome-small-businesses/ for more info.
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