Business loans

Once upon a time in America, you could start a small business on a shoe string. A modest street vendor could build their business into a merchandise empire. If you do not believe me, look into the history of Texas Billionaire Ross Perot. Somewhere along the way, people with small start up business ideas were convinced that in order for them to get their business ideas off the ground, they would need to borrow money. People with small business ideas were convinced that there was no way a person could start and maintain a small business without first taking out a Small Business Loan.

Even today, with the so-called Banking crisis and Banks tightening up on small Businesses loans, there is still a better way for the small entrepreneur to get their business ideas launched. There is actually no reason why a person with a good idea cannot start small and build their business one customer at at time; especially with the Internet and the simplicity of building a website.

The advantage to financing your business venture for yourself is that you will actually own your business and you are not starting your business with a huge debt. The second thing to consider when borrowing money for a business is that when you have investors, you do not own the business and therefore, you do not have full control of every decision made for the direction of the business. You must always take the investors into consideration before making decisions that will effect the bottom line of the business. “He who pays the piper, calls the tune.”

Many successful businesses started out of someone’s home or Garage. Businesses like Microsoft and Apple are perfect examples. While it is true that these mega corporations quickly went public, they started with a simple idea and that is really all it takes... a good idea and the desire to have your own business, oh yea and the willingness to put in the work. The fact is that many businesses start out as hobbies or small weekend projects. Then, the next thing you know, there is more of a demand than you were expecting and before you know it, you are applying for a business license and registering your business name.

One of the biggest mistakes a lot of men and women make is they get impatient. Everyone wants to start out as big as Bill Gates is now and that is not realistic. Plus one of the joys of owning a business that you have built from the ground up is remembering what you started with. You will get a lot joy from knowing that you built your business from the ground up and that you did it all without going into debt.

By: C. C. Turner