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Small Business Startup Tips

Start-Up Tips From the Big Wig Lunch

Business titans such as Gail Simmons and Christiane Lemieux share their best start-up tips during the luncheon for DailyCandy’s second annual Start Small, Go Big contest.

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Startup Loan For Small Business

Business Loans For Startup Companies

Business Loans For Startup Companies You have heard and are convinced that the best way to make money is to start your own business. Besides, you have this great business idea that will rake in the money in fistfuls. However, you need more money as capital than you have saved up for this. You have a few options before you. You can either sell equity in your new company to obtain finance or apply for startup business loans. The Equity Route If you chose the equity route, you need to share control of your business with your investors. This prevents you from having a free hand and slows down decision making – something that can affect the profitability of your enterprise. Moreover, you have to share your profits with the investors. Startup Business Loans You can also decide to obtain loans to help finance your startup. However, this is easier said than done. Most banks consider startup business loans as high-risk loans. This is because many businesses fail within a few years. Bankers consider small business loans for start ups as personal loans. So if your credit history is good, you have a fair chance of obtaining the loan. You other option is to obtain the equipment you need on lease from finance companies. Since they retain a lien on the equipment, the interest rates are low and your credit history need not be very good. Preparedness Whether you choose to obtain a startup business loan or finance from a leasing company, you need to be prepared to answer all their