Top 5 Cash Saving Ideas For Company Start-Ups

It's no secret that we are in the midst of a touch economy. Just because times are hard does not mean that people should throw in the towel and wait until the economy turns around. There are jobs that are actually growing and thriving in this economy and well as businesses you can start if you are the entrepreneurial type.

Obviously, we must invest in gear and personnel at some point if we hope to grow. All I'm asking is that you be very conservative when doing so. I've had as many as 7 people on my payroll and over $200,000 in equipment loans at one point in my video production business.



What I'm going to suggest is not difficult or very time consuming-but necessary. If I had a master's degree in business admin probably the first thing I'd tell you is to create a business plan. Is it necessary right now? I don't think so. Should you decide at some point to rent studio space or get an equipment loan, it'll be required; first things first.

There are numerous cash flow businesses including factoring, mortgage brokerage and equipment finance. Lawsuit tractor financing bad credit (simply click the up coming web site) is another cash flow business, and a lot of the usual suspects who do one business will do this one too.

Do you have a business line of credit? If not ask your banker about setting one up. Do you have equity in your home? If so, talk with a couple of banks or mortgage companies about taking out a home equity line of credit. Regardless of how you do it, only draw enough cash needed to get you through to the next period. When you get the checks in, pay off the line immediately. Treat this kind of debt very seriously. It can bail you out when you need it but it can also cripple you if you use it before taking all the steps listed above. Don't use your line of credit as a crutch!

A window of opportunity is still open. No one knows when this amazing window of business funding opportunity is going to close. Spiffy up your business plan and go for it. Now.