Attorney Blogs|Monmouth County|Middlesex County NJ

How Should I Best Fund My Small Business Idea?

The greatest deterrent to starting one’s own business is likely the question of funding. Following a small business idea requires capital, a commodity that few entrepreneurs have when starting out. With this being the case, they look to outside sources for funding. Sources such as family, friends, and, eventually, angel investors. Let’s go into more depth about what this process looks like, for each source. Sources for Funding Your Small Business Idea Family and friends – While this can be the easiest place to look to for funding, be careful. You don’t want to unknowingly take advantage of the love your friends and family have for you by tying them to a failing business idea. If your friends feel like you used them for money, it could irreparably damage your relationship. Small business loans – Despite popular belief, there are many organizations who are interested in lending to small businesses….
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The 4 Most Effective Strategies for Managing Cashflow

Whether you’re talking about business or personal finances, managing your cash flow well is imperative to financial success. It can come down to weighing the importance of factors against each other, with all of them seeming to be crucial. Effective budgeting may appear tedious, but it comes easier if you focus on the benefits you will get from it. In this spirit, here are the most useful approaches for managing cashflow. Best Strategies for Managing Cashflow Set a timeframe – The period by which you measure your budget needs to be long enough for you to see its effects. Within this timeframe, you should be tracking your finances and keeping them in check. Monitoring them can also be motivating. If your budget is made well, you’ll be able to note an upward trend in your savings. Communicate with all involved – Everyone involved with the management of cashflow needs to…
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When is Selling a Business a Good Idea?

Selling a business doesn’t have to mean that it’s not operating successfully. Sometimes, the best time to sell a small business is precisely when it’s doing well. Doing so can lead to bigger and better opportunities. Here are some factors to consider when deciding whether to sell your company. How to Know Selling a Business is the Right Choice Value of business – Running a business is a risky proposition. Roughly 90 percent of start-ups raise under $20 million and last less than two years before they go under. Realistically, the longer you follow the dream you started with for your company, the riskier it gets. By knowing that the value of your company will eventually peak, however, you will have an edge in knowing when to sell. Potential buyers – You can’t sell your company if no one is willing to buy it. To determine if larger companies are…
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