Planning Your Business
Planning is critical to starting and building a business. We've provided a link to an assessment, and information on the local organizations that can help you get ready—from developing a business plan to developing a business network.
SCORE
Let’s get the bad news out of the way first: there is no free money from the federal government to start or expand your business. Some government agencies provide grants to select businesses, as do private institutions. home-business-savvy.com notes, “they generally direct their assistance toward specific projects, charities, lending institutions, non-profit organizations, educational institutions, etc. Very little money goes to individuals.”
The U.S. Small Business Administration (SBA), an agency dedicated to the growth and success of the nation’s entrepreneurs, is no different. What few grant programs the SBA has are directed mainly to non-profits, intermediary lending institutions and programs administered by states and localities for purposes such as economic revitalization and technology research. SBA does assist entrepreneurs with loans.
Your local bank is another source of financing. Contact your banker to understand what loans they can make and what the requirements are.
Approaching venture capitalists is another approach open to entrepreneurs. Information is available at: www.score.org/article_secrets_unlocking_venture.html
