Business Financing : Ready, Set, Finance! Types of Businesses That Attract Low Start-Up Funding
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By: Jimmy Cox
Date Submitted: 2009-10-26 22:43:23 - Article Views: 47
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If you're ready to realize your dream and head down the highway of starting your own business, you may find some roadblocks when it comes to business start-up funding. New business start-up funding can be very difficult to acquire because many commercial banks and lenders will not even look at new business start-up unless; 1) you have plenty of money sitting and waiting in a bank account; 2) you have a long and successful business track record; and 3) you have a fat and juicy balance sheet.
Another thing to consider when looking for business start-up funding is the type of business you are trying to start. Your business idea and plan of action may or may not appeal to lending sources. When you consider small business ideas, it's important to weigh the different types of small businesses, whether a home-based business or something more concrete, like a gift shop at the local strip mall, house painting or a small cleaning services company.
Any business that provides a useful service or a specialized skill is more likely to succeed - and attract business start-up funding lenders. Businesses that provide high-demand and needed services such as house or office cleaning, repair work, printing, painting and consulting will more than likely succeed, as long as you also provide great customer service and high standards of excellence. If your business revolves around skills that are definitely marketable such as car repair, hanging wallpaper, building shelves, as well as landscaping and yard work, are also more successful because people who use these services are much more concerned about the job being done right the first time than what it costs. For consumers, these are "good to have" businesses - and for lenders, these are "good on paper" businesses.
Whether good to have or good on paper - here are a sample listing of types of new businesses and new business ideas that seem to attract more financing opportunities:
* Construction
* Contractors
* Dentists
* Doctors
* Industrial
* Lawyers
* Manufacturing
* Restaurant
* Retail Apparel
* Service Contracts
* Sub Contractors
* Wholesale
If you're business dream - or idea - is not on this particular listing, don't be discouraged. There are ways for new business entrepreneurs to secure that business loan - personal financing, outside sources or Angle Investors, Small Business Association, as well as other government loan sources. There is business start-up funding out there ... just waiting to help you open for business. |
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