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If you dont have the initial funds needed the pitching starts with whatever you have. A simple way is to find a partner with funds and maybe with knowledge about the business area you are in. Good luck. Flemming Publicada el 11/02/am
February 11, 2019
Check out peer to peer funding. A good site is lendingclub.com...hope this helps. Publicada el 11/02/pm
February 11, 2019
Getting money to use money to get money sounds like the way starting and operating a business works, but I would caution against it. Shift your focus from money to your product and service. Develop a unique value proposition and build strong connections. This will provide a strong foundation for your business to grow and will, hopefully, leave you debt-free. Good luck! Publicada el 12/02/am
February 12, 2019
Hello Donte, You have listed an LLC in your business question, but your profile fits is more tailored to a non-profit organization. There are funding avenue available through both venues, but you must choose one or the other. Here are some tips that may help: NON-PROFIT ORGANIZATIONS: Most small business government grants go to non-profit organizations because of the nature of the work such entities do. A non-profit organization operates in much the same way that a for-profit company does except that the founder (s) work for a board of directors that pays them a salary and, upon registration with state and federal governments under IRS provision 501 3 (c) or a similar designation, the business pays no taxes.What would normally be considered profit in a for-profit company is re-invested back into a non-profit to further its work. Annual reports are required by the IRS to demonstrate the re-investment and maintain a tax-free status. Non-profit organizations are usually initiated to pursue a religious or socio-economic endeavor serving the public, such as churches, health care, public information, communications, high technology, or similar undertakings. No one owns a non-profit organization. A board of directors, a charter, articles of organization filed with the state and the IRS designation with the federal government establish it as a public entity. In the event it is discontinued, all proceeds and assets are distributed by the government for public use and no one individual benefits. A non-profit charter must include that provision.The following link at NOLO provides the chronological process between a state registration and the IRS in applying for non-profit registration and tax-exempt status: ******** http://www.nolo.com/legal-encyclopedia/form-nonprofit-501c3-corporation-30228.html ******** FOR PROFIT ORGANIZATIONS: A for-profit organization is founded by individuals specifically defined by name as owners in the articles of incorporation with the state and registered with the federal government for tax purposes. There are many different types of for-profit entities (S Corp, Sole Proprietorship, LLC, Partnership, etc.); each type has its own unique tax and operating characteristics. A for-profit organization exists for the specific purpose of providing a return on investment for the owners. All assets on the books of the company are the property of the company, and although certain types of corporations, such as a Limited Liability Company (LLC) reduce the risk and insulate the owners' private assets to some degree, in general what is invested by an owner in the firm is the property of the firm and subject to business risks and the laws governing such matters. In return the owner or stockholder is entitled to the return on his or her investment as an individual in the form of dividends, direct proceeds after costs or other forms of entitlement (conveying what is commonly known as profit). Publicada el 14/02/pm
February 14, 2019
The first thing you need to start a business is not money, it is the idea. That you have. The next thing is an area of interest and then a line of action. Then you draw a business plan. After which you start from where you are and with what you have. Publicada el 26/08/am
August 26, 2019
Firstly, it's not advice-able to get a loan to start a business except you have a record of running and managing businesses that are successful. In most cases, when a business newbie gets a loan to start a business, they lose the money due to lack of experience and not being mentored or guided by someone who is doing the same business they are about to start. Research shows that 90% of entrepreneur fail at their first business, this is because they are new in business and are most likely to make costly mistakes. My advice is that you learn a high paying skill like website development, digital marking or any skill of your choice. With that, you can make money for yourself since providing a service does not require any investing capital. All you need is to invest in learning the skills and keep improving, clients will always pay you upfront to work for them. Then you can invest your earnings into any business of your choice, even if anything goes wrong and you lose your capital you will never go broke because you have a high paying skill to fall back on. I hope my advice helps. I wish you all the best. Publicada el 06/09/pm
September 6, 2019