| I can remember the time not-so-long ago when a | | | | what you are starting up. |
| woman was unable to get a loan from a financial | | | | If you aren't excited at this stage about your business, |
| institution without having her Father, Husband or | | | | then it is not a good sign. Every entrepreneur is their |
| Brother co-sign for her. Today, getting a small business | | | | own best salesperson and a high degree of |
| start up loan for a woman is easier than ever before. | | | | enthusiasm augers well for a long term successful |
| But there is always a "but", isn't there? Be very sure | | | | business outcome. |
| that you have all the paperwork in place before | | | | The bank manager will want to see a marketing plan |
| applying for a loan simply because they will treat you | | | | and only you can do this. Certainly, if your plan is going |
| the same as any other small business applying for a | | | | to include heavy costs like TV advertising, you will |
| loan. | | | | need to discuss this with your Accountant and find a |
| One of the main things they want to be very sure of | | | | "break-even" point. Otherwise, the marketing plan and |
| is that you have, or will have, the capacity to pay it | | | | strategy is up to you and it does play a very vital role |
| back with interest. | | | | in the outcome of your business. There is no point in |
| Firstly, you will need to have your costing done. If you | | | | having the best and cheapest "squeakers" if no one |
| can't do these yourself, then have your Accountant do | | | | knows where to find them. |
| them up for you and if this is the first time you have | | | | Having a realistic Business Plan will be the other |
| applied to a bank for any type of loan; have your | | | | component of applying for a start up business loan |
| Accountant go with you. This way they can answer | | | | and if you are a family woman and the loan you are |
| any of the questions that you aren't familiar answering, | | | | applying for is substantial with few assets, you may |
| the bank manager will most likely address most of the | | | | have your personal plans gently probed as well. The |
| questions to him at this point and lastly; but certainly not | | | | other thing you will need to reassure your bank |
| leastly, the bank manager will know that you are very | | | | manager about is if you plan to cut back on work in |
| serious and organised simply because you have | | | | two or three years to start a family, you need to |
| already organised an Accountant who is prepared to | | | | reassure them that there will be someone else in place |
| work with you. | | | | capable of running the business successfully in your |
| The Accountant knows figures best; so it is you who | | | | absence. |
| will be the driving force in your business. Your level of | | | | That is one question a woman needs to answer that |
| technical expertise and industry knowledge will be | | | | is rarely, if ever, asked of a man. If the woman is older, |
| gently probed. The discussion is likely to be centred in | | | | this question is asked in the form of "how old are your |
| the degree of 'small talk' with the bank manager, but | | | | children?" because running a family alone and running a |
| this is usually a gentle probing into how well you know | | | | business does have conflicting loyalties. These can't be |
| 'your stuff' and how enthusiastic you are are about | | | | avoided and it is silly to deny that they exist. |