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October 6, 2009

Finance tips – Gaining capital for your new business without getting a loan

Filed under: Finance — Tags: , , , — admin @ 1:25 pm

You might think that you have to have good credit to start your small business. Actually, this is not the case. In fact, if you are willing to put in some extra time, there are several ways in which you can raise hundreds, or even thousands of dollars, in a relatively time-efficient manner.

How do you do this? Well, here is one way. First, you can simply go on a hard-core budget. Stop spending money on ANYTHING that is not necessary… crack down on the extras… stop buying soda and drink water. By enacting a very strict budget, you can easily save a hundred dollars a week. That is four hundred dollars a month, and within a year, that is $5,200! Does a year seem like a long time? Maybe… but think of it this way. You will probably make it back in the next year without budgeting! And then the next year you can simply put that money into your pocket, or use it to expand your business.

What is another way in which you can start a small business? Well, pick up some extra hours. This might be a pain, especially if work is scarce where you live. But, it can be done. For instance, you could volunteer to work extra shifts at your job, and put away that money. Or, you could pick up a side job and work there until you are ready to start your business, all while keeping your full time job. Or, you can do odd-jobs for cash on the weekends… like hauling wood, cleaning yards, or helping a friend bale hay. There are a lot of ways in which you can earn extra money for starting your small business without taking out a loan.

I would also like to recommend you to read a great post on how to make money online.

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