In my recent Council for Small Business meeting, we took at look at the hottest topics impacting small businesses this month. As usual, the topic of finance came up repeatedly. Banks simply aren't lending like they should. Some banks and organizations like the SBA are leveraging stimulus funds to make it easier to access capital. Venture capitalists and angel investors are also looking for entrepreneurs and startups with solid business plans. This uplifting article tells of how six small businesses owners financed their dreams through various sources.
If your bank isn't lending to you, consider microlending programs, family members, personal credit lines, and grants in addition to venture capitalists and angel investors. A word of advice: don't use your HELOC for any purchases not related to improving or maintaining your home. If you need assistance identifying the right financing sources, your local SBA, SCORE office, or chamber of commerce can provide you with counselors and financial expertise.
I will post the notes from our meeting on the Greater Seattle Chamber of Commerce's LinkedIn group later this month. If you are a chamber member, please join this group to get the details of the discussion and to learn about next month's exciting program and opportunity exchange.
If you need resources for your small business, drop me an email. I can point you to some of the right resources you need to get your business off the ground and keep it moving forward.
Keeping the world connected through issues that impact urban and regional policy and development.
Enjoyed your articles about small business in this economy. To share with your entrepreneur readers, in the Greater Seattle area, Washington C.A.S.H. (Community Alliance for Self-Help) is a
ReplyDeletenon-profit micorlending organization, their unique niche is to provide the first step on the ladder to small business ownership to underserved individuals. Washington CASH provides the supportive community, business training, tools and capital to help enterprising individuals with limited financial resources gain self-sufficiency through small business ownership. As a client, board member and volunteer of this organization I recommend anyone with a passionate business idea and the burning skills to be an entrepreneur check out Washington CASH. They have taught me the skills to read and understand a profit and loss statement, marketing and how to price and sell my product.