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5 Startup Business Myths in Small and Home Based Businesses Business Articles | September 6 Cheap Air Max Flair , 2008

Discussing a few of the myths that cloud the


concept of starting a small business, going over


the most common myths that typically surround the


small business owner and discuss their merits and


the facts in each instance. In short many of the


things you will hear and run into are not facts -


they are urban legends, misconceptions about


starting a business that have been repeated so


often now that many people believe them to be


true even when they ought to know better.



To give you an example and discuss a few of the myths that cloud the concept


of starting a small business. Let us go over the most common myths that


typically surround the small business owner and discuss their merits and the


facts in each instance. In short many of the things you will hear and run


into are not facts - they are urban legends Cheap Air Max Dynasty , misconceptions about starting a


business that have been repeated so often now that many people believe them


to be true even when they ought to know better. In many cases as with the -


SBA has money to loan- myth there is a kernel of truth once you get past the


misconceptions


* There is free money available to help you start your business


If something sounds too good to be true it not only probably is I can


guarantee you it is! Our government only gives away money to foreign


interests with whom they feel they can buy loyalty or concessions - not to


their citizens. While it may be true that some state governments have


policies in place to help people such as veterans, minorities or people with


disabilities those special programs have very specific requirements that you


have to meet before you are eligible. If someone claims otherwise, especially


if they want to charge you a fee for a 'list of lenders and free grant


providers' run do not walk away from them!


The Small Business Administration has millions of dollars of money available


to loan directly to small business


The SBA is an independent agency of the executive branch of the federal


government Cheap Air Max DLX , and the government is not in the habit of giving anything away.


That includes loans, believe it or not! The SBA is a great resource for small


businesses, and does act as a guarantor for one of three different loan


programs that can be of use to the small business owner Cheap Air Max Deluxe , but they themselves


do not provide or arrange for the loans.


The three loans they act as guarantors for include the Seven-A (7a), the Five-


O-Four (504) and the Seven-M (7m) or micro-loan as it is known. Details about


these different loans which the SBA will guarantee and oversee compliance


with for small businesses are not in the scope of this article.


What the SBA does in these types on situations is to help arrange financing


through various lending partners including local banks and nonprofit


corporations and to oversee compliance on the part of the small business with


the loan terms, thus assuring to the lenders that the loan will be repaid.


* People are lining up to loan money to startup companies


Venture capitalists DO exist Cheap Air Max Classic BW , and while in some cases they have been known to


finance startup companies that is not what they principally do, nor would it


be wise to do so. Since a venture capitalist entire purpose of investing into


a company is to make money and more then half of the startup companies


created every year go belly-up just leaving that money in the bank earning 5%


would do a better job them financing startup companies hand-over fist.


One of the rules of thumb that investors use is that a good three year track


record needs to be in place, along with a great business plan and the


potential at least for robust growth before they are willing to put their


hard-earned money on the table. If you can show a great strategy with strong


growth potential and have a product or service with a national client base


that has so far been untapped you may be able to get them to bend a little -


but the thought that investors are actively looking for someone to give their


cash to is definitely an urban legend!


* Starting your own business allows you freedom to choose your working hours


Only someone who has never had a job like raising kids Cheap Air Max Axis , or farming that has


tasks to be done whether you are sick or not would ever come up with a saying


like this, and yet it is one of the most common business-owner myths out


there. Unless you have so much money that you don't need your business to


succeed any 'freedom' you have will be going right out the window the moment


you open your small business or shop! You may have a bit more flexibility in


the scheduling of your free time, but starting a small business will


definitely cut into that free time if you plan on making it a success.


* There are many write-offs you can take on things you otherwise can't write


off


The IRS and the government do NOT give away money. Remember that - that is


the reason for myth number one and two above Cheap Air Max 98 , and unless you enjoy being


audited it's never a good idea to write off any expenses not 100% related to


your business endeavors even if they are used in relation to the business as


well as your personal life. The best rule of thumb is to ask yourself whether


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