7 Quick Ways To Finance Your Home Business
by BB Lee
Personal savings: The first place many new home business owners look to finance their venture is their personal bank account. Or other personal resources such as savings bonds, stock, etc. One entrepreneur, I know of, used her vacation funds from her regular job to start a part-time home business.
Credit cards: More people than you might think fund their startup with their credit cards. This is risky, but a quick way to fund your nifty biz idea.
Friends and family: Many entrepreneurs look to friends and family when starting up a new business. Often, money is loaned to the party interest free, which can be beneficial when first getting started.
Banks and credit unions: The most common source of funding, banks and credit unions, will consider you a good loan prospect if you show them a sound business proposal.
Garage sales: A few clever entrepreneurs cleared out unused articles in their basements or attics and made quite a profit selling these items at weekend garage sales.
Consignment shop: Clean out your closets. Deliver the clothes you've outgrown in the last few years to a local consignment shop. Arrange a fair selling price. They will display your items and charge you a percentage of the selling price.
Sell your stuff at eBay: That's right! Register with eBay, the online auction site. Dust off a few of your old Elvis records, Beastie Boy's CD's, or how about that Barbie Doll collecting dust in your attic. A handsome profit is up for grabs if you have a hot item.
Your Junk Could easily be someone's treasure!
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About the Author
BB Lee is editor/publisher of SmallBizBits Newsletter
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