Small businesses make up most of the American economy. They are responsible for over 80% of all new jobs and they account for about half of all private sector employment. So it’s no wonder that small businesses are so important to the economy. In fact, small businesses are the backbone of the American economy.
Unfortunately, there are many problems facing small businesses. One of the biggest problems is lack of funding. Most small businesses don’t have enough money to start or expand. Many people think that because their business is small they can’t get funding from a bank or a venture capitalist. But this is not true. In fact, banks are willing to lend money to small businesses as long as you have a good credit rating. If you do have a good credit rating, you may even be able to get a loan without having to put up any collateral. This is called a “factoring loan”. Factoring loans are very easy to obtain and there are a number of companies that specialize in them.
Another problem that small businesses face is the difficulty of getting started. There are a lot of regulations that small businesses have to deal with and some of them can be extremely complex. It can take years for a small business to get through all of the red tape that is involved with starting a business.
There are a few things that you can do to help you get started. The first thing is to look at the Small Business Administration website. They have a lot of helpful information on the web. The SBA also has a program called the SBA Express Start Program. This program helps you to get started by providing you with a $10,000 grant.
Another thing you can do is join an organization such as the National Federation of Independent Businesses. NFIB will help you to get started by giving you free advice and training.