Deciding to make the move from working for someone else to starting up your own business is both an exciting and yet stressful event. There are so many considerations that have to be taken into account, not least how you are going to finance your new venture, and this is the case whether you have an idea which addresses a gap in the market, a new invention or product that you want to bring to the marketplace, or a service that you think could do well.
There can be many reasons why you need some level of investment. There could be a need for premises for your business, or a need to employ staff if you are offering a physical service. If you are in the creative/manufacturing industry you may need stock, equipment, or might want to import actual products ready for sale. Even if your business is an online venture, relevant software and online internet costs for hosting and support could be something that you are not able to fund yourself, clearly there is a need from funding from another source.
Self Employment Loan
If you are at the start of your new venture, and are a sole proprietor, then you may need to consider a self employed loan. Self Employment loans like the kind offered by Associates Home Loan can be a great way of getting that initial leg up. Finding a traditional loan may be difficult if your business is a start up, especially if you are lacking in any capital of your own to invest, and this can often be the case if you are self employed and can still trying to support your family and pay your traditional bills as you develop and grow your business idea.
One of the best things about a self employment loans is that it gives a small business or an entrepreneur quick access to capital and funding at an early date in the business development. The start of the business is when funding is needed most urgently, and probably in the highest amount, as you have all those initial outlays to fund that wont be there once the business is set up, the premises and the equipment for example. Bringing in an actual partner or an investor could mean giving away a portion of your business a la Dragons Den, but this may not be what you want to do, you may simply want to take on a loan that you can pay back once you are up and running.
The good news is that there are now plenty of lenders who will offer self employment loans to those who need capital for that start up. This is probably due to an increase in the number of self employed businessmen, and the rise in the number of internet entrepreneurs making the most of the demise of the traditional High Street.
A Self Employed loan could be the shot in the arm that makes your dream become a reality, and avoids you having to cut corners, or rely on friends and family for investment.