| The first thing you need when you start a business is | | | | bank loan. Remember that banks charge interest for |
| money. The next thing you need to keep your | | | | their loans. You'd have to pay back the principal sum |
| business going is more money. There are lots of | | | | you borrow with interest. Though the interest rate |
| guides online to help you start up a business, but you | | | | might sound managable, the interest you have to pay |
| have to pay to read most of the good ones. Seems | | | | can accumulate to a frightening sum time, |
| like you need money to make money. A sad fact of | | | | A better bet is to try and get a grant. You can get |
| life. | | | | grants for business development which can mean the |
| The good news is that you still can run your business | | | | difference between a successful business or giving up |
| even if you are strapped for cash. You'll have to be | | | | before the business takes off due to the lack of funds. |
| resourceful though. Lazy people need not apply. | | | | Grants can even tide you through tough times. |
| Once you've got a great business idea, do your | | | | On the other side of the equation would be the cost |
| feasibility study. Plan ahead. How much would you | | | | cutting measures. Try not to pay for anything if an |
| need for this business. How much might you expect it | | | | alternative is available for free. In my web business, I |
| to earn? What is the long term potential of the | | | | went for the free operating system Linux and the free |
| business? Do you plan to run this biz for life and hand it | | | | database Mysql and saved tremendously on software |
| down to your heirs or do you want to grow this | | | | costs. Instead of microsoft office, I went for open |
| business and sell it off? | | | | office which you can download for free online, or you |
| If you want to sell it off, you could search for venture | | | | could buy staroffice from computer stores for a |
| capitalists who are willing to fund your idea in | | | | fraction of what you might pay for microsoft office. |
| exchange for a share of your company. When you do | | | | Sure, free versions may not have as many versions |
| sell it off, they get their cut and their profits from the | | | | as the costly, more popular software, but do you really |
| venture. Bear in mind there is no such thing as free | | | | need all those bells and whistles? Wouldn't the money |
| money. They fund your venture and they would want | | | | be better spent on other business essentials? |
| to make some of the decisions. You'll have to comply | | | | Do you really need an impressive office in a |
| with their wishes or at least work out some | | | | prestigious district? Is that really necessary? You could |
| compromise both parties can live with. | | | | save substantially if you work from a home office or |
| Alternatively, whether you want to sell or keep your | | | | relocate your office to a place where the rental isn't |
| business, if your savings can cover the business costs | | | | so high. |
| and have enough for you to live on for the next | | | | How much do you spend on the printing of your |
| twelve months then you can fund it yourself from your | | | | materials? Business cards, mailers for marketing your |
| savings and keep full control of your business. Or you | | | | business can be rather expensive. You shouldn't |
| could borrow from family and friends but make sure | | | | compromise on the quality as these materials |
| you return the borrowed cash. | | | | represent your company image. Here's where I got |
| If you can't muster up enough funds or you'd rather | | | | Free Marketing Materials which are beautifully printed |
| save that money for emergencies, you could take a | | | | on quality paper. |