Successful Business Ideas – Starting a Business on a Shoestring Budget

In this article we’ll cover how to take successful business ideas into business reality when you don’t have a lot of money to get started. There are three categories of solutions which can help springboard your new business to success. The first is creative resourcing and sponsoring, the next is peer to peer lending followed by government grants and small business loans.Creative resourcing and sponsoringA friend of mine was trying very hard to raise money to buy solar panels which she then planned to install in remote villages to operate basic infrastructure items like well pumps and low energy lighting to allow people to continue working after sundown. After repeated and persistent attempts to raise money she discovered a new company that was manufacturing next generation solar panels. They offered to give her the solar panels in exchange for the public relations they would be able to receive. Mission accomplished.This is a great example of how persistence and openness to solutions can lead you to what you really wanted in the first place.How can you use your creativity to find a warehouse space you need, a call center or even free consulting? If you found someone with office space and an empty cubicle would you be willing to clean the office at night in exchange for a free cubicle, phone and access to a fax and photocopier? Perhaps you can find somebody with empty warehouse space that would let you use some of it in exchange for a percentage of future profits. Given a little bit of creative thinking, you might be amazed at how easily you can collect the resources required to start your business.Peer to peer lendingAlso known as person to person lending and social lending, this form of financing is rapidly increasing in popularity as banks demonstrate a decreasing willingness to lend money. Peer to peer lending does not involve high interest “pay day” lending firms. Peer to peer lending is simply borrowing money from private investors at reasonable interest rates.There are many websites that now allow you to apply for peer to peer lending. In many cases you may find that the people who are lending this money also have business backgrounds and connections which may be helpful in your success. While these people should be looked on as money sources, they also have an interest in seeing you succeed, because obviously that means a successful repayment of your loan and a return on their investment.Government grants and small business loansPerhaps you haven’t considered this before but the government has a vested interest in the creation of new successful businesses. Successful businesses create jobs and pay more taxes. Not only are there a variety of tax benefits specifically created and directed towards the stimulation of small business growth, there are also numerous grants designed to encourage new business creation and growth in a variety of industries. There are grants directed at the creation of businesses around alternative energy and new inventions. Other grants are earmarked specifically to promote women and minorities as new business leaders.To find out about grants in your area, call the office of your local state corporation commission. Get to know the people there and have them send you any materials on what’s available. Ask them if there are any training programs available to help you get grants and how to best write your grant proposal to increase your chances of being rewarded the money.For areas not covered by a grant, there are many small business loans available as well. Sometimes the loans do not require repayment if certain conditions are met.In the end you have to decide how badly you want your business to get off the ground. Read the biographies of some of the greats of business and you’ll see creativity and resourcefulness. If you truly can’t find creative and resourceful solutions you have peer to peer lending and even government grants and loans available to turn your dreams into reality.

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