Funding Your Startup After the Bank Says No


small business loanFor several years now, walking into a bank looking for a small business loan has been like walking into the desert looking for a drink of water: You might find one, but it’s likely going to be a long walk before you get there.

“We knew that,” said Aidan Augustin, whose start-up company, Feathr, is going on its third year of operation without a dime of help from a bank. “We knew banks would want us to put up collateral and do a lot of things we weren’t going to be comfortable doing, so we didn’t even bother asking them for help.” Instead, Augustin and his college roommate and co-founder, Neal Ormsbe, combined some old-school business funding techniques (tap friends, family and personal savings) with some new-school innovations (enter contests, do crowd-funding, seek grants) to get Feathr crawling and now, finally, walking on its own. “We sort of hopped, skipped and jumped our way around from one funding source to another to get us going,” Augustin said. “Then we started generating some revenue in May, and revenues have kept building up to the point where now we’re self-sustaining.” Read the full entry


Greening Your Business: 10 Ways to Save Money


eco-consciousWith all of the products and services consumers have to select from, it’s never been more important to make your business rise above your competitors.  Greening your business is a way to save money – a top priority for most companies with the high amount of business debt many have incurred.  Take a look at these easy steps your business can take to save money and decrease its impact on the Earth. Read the full entry


How to Choose a Legal Structure for Your Small Business


b corp LLCBusiness structure formation is not exactly a topic that business owners clamor to read about, but it is important for entrepreneurs to understand as much about it as possible. Sole-proprietorship is typically the default business structure entrepreneurs wind up working with and while it’s easy to form, it doesn’t provide you with much fiscal or legal protection. If your business doesn’t take off quite like you expected, or if the business is sued, debtors could seize your personal assets to pay for the business’s liabilities. I know firsthand how it feels to stare into the unknown and wonder if the gamble to start up your own company is worth taking. Though turning your business into its own, separate legal entity may seem daunting, it does lower the stakes, especially when you research the structures beforehand. So, when you look into choosing a legal structure for your business, ask yourself these three questions before choosing the one that meets your needs. Read the full entry


How To Grow Your Small Business with Microfinancing


Small Business Finance TipsAs an entrepreneur you may find yourself having difficulty launching or growing your small business because you lack the funding you need. You may also have trouble finding and acquiring capital simply because you don’t know your options. The good news is that it is possible to acquire the funding needed to launch or grow your small business. Read the full entry


Is Finding a Business Loan a DIY Kind of Thing?


small business loan brokerMany of us are avid “do-it-yourselfers” (DIYers).  There are television networks and countless internet sites that celebrate and encourage those of us who are predisposed to “do it ourselves.”  I find that business owners, independent by nature, skew heavily towards the “do it yourself” end of the spectrum.  Many times, that approach benefits them greatly; they save money or get a better outcome than if they had hired someone.   However, there are times when many of us underestimate the amount of time we will have to invest in a task or overestimate our ability to do it well.  (Anyone else ever wandered the aisles of Home Depot looking for that tape you use to fix the pipe you just punctured while installing a new faucet?) Read the full entry


Tips You Need to Know to Secure a Government Contract


small business loanGovernment contracts can be lucrative, with billions of dollars’ worth of contracts being awarded to small businesses every year. But with significant competition, how can you get your small business in on the action? Here are some guidelines for getting noticed for the next contract in your field. Read the full entry


The Shocking Reality of Business Debt


debt financingIt is safe to assume most people hope their businesses will be profitable. Owners often hope to become wealthy because of their vision and work. That, however, does not always happen. The reality is that not all companies are successful. Starting an enterprise can drag business owners deep into debt. It’s common for businesses to go into some kind of debt when they first begin. Taking on debt is necessary to pay for daily operations or even expand a business. However, problems arise when too much debt is racked up. Half of small businesses fail within the first five years because of issues like poor credit and exceeding debt, according to the U.S. Small Business Administration. If a business owner borrows too much and doesn’t make enough to pay it back, it’s easy for them to get in over their heads. Read the full entry


5 Ways Your Small Business Can Save Money on HR


human resourcesConsidering today’s uncertain economic climate, it is crucial that you cut costs in any way that you can. Many turn to their advertising spend, business software or even their employees. Although your HR department may seem off-limits from cost-cutting because of the important role it plays, there are, in fact, ways you can save on human resources without affecting overall operations. Here are five suggestions. Read the full entry


7 Items Small Business Owners Can Write Off That Most People Can’t


small business taxesIf you are a small business owner, you need to familiarize yourself with the Internal Revenue Service’s information on all the ways in which your small business can write off certain costs – expenses that, in many cases, most taxpayers aren’t allowed to deduct from their individual tax returns. You can check out IRS Publication 535, among others, for specific rules and regulations. Here’s a list of seven items that a small business owner can write off that other people can’t: Read the full entry


Trep Tuesday: 10 Tips to Run a Small Business on a Budget


10 Tips to Run a Small Business on a BudgetLooking for ways to cut costs and boost profits for your small business? Here are ten tips to trim the fat from your expenses and turn your business into a lean, mean, money-making machine. Read the full entry