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Start Your Own Business?

What Kind Of Help Is There For You To Start Your Own Business?

So, you are a single mom and you have a great idea for starting your own business. After all, starting a business isn’t cheap, and your savings are umm, let’s say not quite sufficient for your goal. That’s perfect, because there are several financing options to help you start your business. A a matter of fact, there are certain funds that are ONLY available to female owned businesses.

 

What you need to do to set up depends on your type of business, where you work and whether you take people on to help. Today, tens of thousands of people are considering starting a home based business, and for good reasons. On average, people can expect to have two and three careers during their work life. Those leaving one career often think about their second or third career move being to their own home.

 

Starting a business is a big step. It can be risky – but it can also be very rewarding. This information will help you understand what’s involved and tells you where you can go for practical advice and support. Starting your own business is one of the most powerful ways to take control of your life and make extra money month after month. You can start with just a few hours a week. And best of all, you get to choose your hours, pick projects you find exciting, and meet interesting people. With the help of the step-by-step systems you’ll find here, you can start getting clients faster and boost your earnings when you want to.

 

How to start my own business?

There are several financing options to help you start your business:

#1. The U.S. Small Business Administration

The U.S. Small Business Administration or SBA has been existence since 1953. The SBA offers particular assistance to woman, especially if they are low-income or socially disadvantaged. They handle training and counseling for now and future business owners, but you will NOT be able to able to get grants from them. They do handle some loans, and of course you would be responsible for paying them back.

 

If you want to start your own home-based business, the Small Business Administration (SBA) offers a guide for home-based businesses. This guide includes start-up resources, tax information, and information about buying a home-based franchise. Click this https://www.sba.gov/starting-business/how-start-business/business-types/home-based-businesses.

 

SBA offers a variety of loan programs for very specific purposes. Take some time to study the programs described in this section, to see if you qualify to participate.

 

SBA Advantage Loans include financial help for businesses with special requirements. Read more here https://www.sba.gov/loans-grants/see-what-sba-offers/sba-loan-programs/small-business-loans-sba-advantage-loans-7a.

 

Microloan program

The Microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan is about $13,000.

The U.S. Small Business Administration provides funds to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries administer the Microloan program for eligible borrowers. Click this https://www.sba.gov/loans-grants/see-what-sba-offers/sba-loan-programs/microloan-program

 

If you are thinking of setting up a business there are a number of issues you need to consider. Different supports and regulations apply, depending on your particular situation. You may be employed, unemployed or someone who is coming from outside Ireland to set up a business.

 

You can set up a business as a sole trader, as a partnership or as a limited company. The type of structure you choose depends on the kind of business you are running, with whom you will be doing business and your attitude to risk. It is advisable to get the advice of a solicitor or accountant when considering the structure for your business.

 

#2. Women’s Business Centers

The U.S. Small Business Administration website (https://www.sba.gov) offers a one-stop resource for anyone to start a small business. You can find in-person training, counseling and other resources to start and grow your business.

 

The U.S. Small Business Administration especially Women’s Business Centers (WBCs) provide women entrepreneurs with in-person assistance and business counseling programs that can help them start and grow successful businesses. WBCs can specially benefit for women who are economically or socially disadvantaged and would not otherwise have access to comprehensive training and counseling offered in many languages.

 

WBCs provide you training and counseling service about topics:

  • preparing for business ownership
  • business planning
  • business management
  • marketing
  • how to navigate the loan process
  • opportunities for selling to the government
  • and more

You can start about WBCs here https://www.sba.gov/starting-business/how-start-business/business-types/women-owned-businesses

 

#3. National SCORE Association

SCORE is a non-profit agency that is staffed by volunteers, and has been in existence since 1964.

They provide:

  • Business counseling services
  • Advice to future business owners
  • Workshops
  • Special services

You can also get business advice from experienced executives on insurance and other topics through SCORE. SCORE is a partner of the The U.S. Small Business Administration (SBA).

You can find more about SCORE here: https://www.score.org/

 

#4. National Association of Women Business Owners

National Association of Women Business Owners (NAWBO) is a membership organization that provides resources (including excellent newsletter) and networking opportunity for women in business.

 

The topics of business resources that help women-owned businesses to growth and success from NAWBO:

  • access to capital
  • going global
  • government contracting
  • business publications
  • business certification
  • and more

 

You can find more about NAWBO here https://www.nawbo.org

 

#5. National Association for Female Executives

National Association for Female Executives (NAFE) provides information on an association committed to women of excellence in business, with benefits including success stories, newsletters, discounted services and equipment and much more.

You can find more about NAFE here: http://www.nafe.com

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