Most entrepreneurs get their enterprises off the ground by financing them with personal funds. Although this is a tried-and-true method, what's not quite as widely known is how it might impact your credit rating. Starting a new business is exciting but also intimidating, especially when it comes to finances. Finding the right mix of capital requires educating yourself on the … [Read more...]
There are several reasons why your business may be classified as a high-risk business. When you, the owner of the business, has a bad credit score, your business will be seen as high-risk. Other reasons include the nature of the business, being in a volatile industry, and the risks faced by the business in its operations. When a business is classified as high-risk, there are … [Read more...]
U.S. military veterans and reservists have developed personal attributes such as determination, adaptability, and a willingness to take calculated risks. They’ve learned and developed these attributes through study, hard work, implementation, and by experience. These attributes are also the characteristics that make for successful entrepreneurs. One key hurdle for veterans … [Read more...]
Lots of hopeful entrepreneurs have an idea that could make a great business, but unfortunately, lack the money needed to get it started. While the logical next step would be to look to banks to launch a business, most new establishments have a hard time getting funds using this route. Banks are often reluctant to lend funds to individuals who have no proven track record of … [Read more...]
You’ve heard the horror stories about recent college graduates. There is an unprecedented amount of student loan debt and despite an improving economy, 10.5 percent of recent grads are unemployed (as compared with 8.4 percent in 2007). As the Economic Policy Institute put it in a May 2015 article, college graduates have been “idled” by the economy. Here is a quote from the … [Read more...]
What does the typical entrepreneur look like? If you are like most people, you probably picture someone in his or her 20s. Maybe someone who is fresh out of college or maybe even still in college. Right? Wrong. According to the 2014 Kauffman Index of Entrepreneurial Activity, the largest age group for entrepreneurs is 45 to 54, and it is growing. In fact, the percentage of … [Read more...]
The financing part of starting a business can be completely overwhelming. From finding a lender, all the way through the application process, until the sweet (or bitter) end of approval or rejection, the whole thing can wear a person out. While it may seem that getting a startup loan or any type of business loan is as simple as filling out an application and having the right … [Read more...]
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