If your an entrepreneur looking to start a business I’d say the biggest concern would be the funding. You can apply for an unsecured business start up loan or apply for grants which wouldn’t have to be paid back, but they can be very difficult to get. I guess it comes down to how badly you want to start a business and how hard your willing to work for it and compete for those grants. There’s lots of agencies and even private companies that can potentially provide you with financial assistance. However you’ll have to compete because for every available grant there’s usually dozens of other hopefuls waiting to be the next recipient.

There are many sources for a start up business grant, but usually the requirements are very strict and you might want to think about getting a professional grant writer to help with the application. Also you will need to show that your business has a strong potential for succeeding. I’ve heard that state start up grants are by far the easiest to apply for and then the federal government gets harder, also local government departments have  business start up grants for special needs for women, minority groups and people with physical disabilities.

I know a lot of people dream of having their own business and being able to do whatever they please. Some make it happen and others simply just think and dream. I’m not a mover and shaker but I’ve been thinking about it and I keep my eye on the commercial real estate in my area because I like to see what’s available out there. Sometimes I think about opening up a beauty shop and I’ve even made a list of all the equipment I need. There’s no way I could arrange to have it in my home because of all the code requirements, but it certainly would be convenient to have a set up like my ex brother-in-law’s shop.

I don’t want to work in a salon for someone else again because I have to do all the services and there are some I prefer not doing like perms. If I had my own shop it would be more like a barber shop because I like cutting and even color, I also love giving facials. So I could choose the services I want to provide. Of course there are so many other things to be considered like liability insurance, getting a shop license, getting everything inspected and depending on the type of business any one is thinking about I’m sure there would be lots of other considerations to contend with.

If you’re thinking about starting a business from your home though you absolutely need to keep it legitimate meaning make sure you follow all guidelines for the type of business you are thinking about to avoid any penalties because you didn’t pay attention to all of the legal requirements for your business. You also need to keep meticulous books and record every single transaction because the IRS tends to be more strict with home and online businesses. You need to make sure all licenses are up to date and to avoid penalties you should always file your income tax returns on time and don’t forget all that self employment tax.

There is so much to think about and find out about before you even start that for someone like me it makes my head spin, but if you’re going to do it you need to do it right. Our economy being what it is right now though kind of puts me off of the idea because I see so many companies shutting down around us and the money just doesn’t flow as much especially for start up businesses. If I was a crafty type of person that would be different. I know my exes Mother made good money with her arts and crafts and even did work at home for some big companies, but there have even been some big changes with that so her extra income is way down.

For me I guess I’ll wait and see what is going to happen with Bill’s job and when he is actually going to retire and what our finances will look like at that time before I make up my mind. At any rate I can still add to my list everything that would be required to make it work and don’t forget the advertising end because if people don’t know about you then you wont get the market you’re aiming for. I guess that’s why so many people try to earn a living online because of start up costs and everything involved, but even that has huge drawbacks and whatever you do or are doing I wish you all the best.

Tags: start up business grant