Engineering and fabrication
I want to start a small machining business, but need help.?
I have the people, but not the capital or work place. Are there government loans/grants? Where do I start to look? My friends/coworkers have seen others branch off and be successful. We are adults with perfect credit, home owners, just looking for a starting point.
Public Comments
- There are no grants for a for profit business unless you are opening a daycare. If you need money, you will need to apply for a loan. No lender will talk to you unless you provide them with a valid business plan. Go to http://www.sba.gov , http://www.score.org or http://www.bplan.com for sample business plans and instructions on how to write a business plan.
Then, go to http://www.score.org/ and in the upper left hand corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a SCORE counselor to review your business plan and discuss various loan options available to you.
SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA).
SCORE has 389 chapters in locations throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors.
- The first question when starting a business is not about the employees, space or capital.
The first question is: "Do I have the customers?".
If you don't have those lined up, the other factors won't matter.
Good luck, though!
- You have no money, no premises, no machines, what you need is your head examining.
- depends what country you are in .
In Australia we have state government run small business bureaus which gives advice on all aspects of starting a business from Employees rights to how to maintain business focus and keep business records.
They can also help with grants and subsidies and finding a premises.
Be aware ..nearly 90% of small business go under in the first year because they have not prepared properly or have been under capitalised.
It is not unusual either for an owner of a small business not to see any profit in the first year as they need to pay off a lot of the debt the business has incurred. Usually smart business owners will only pay themselfs a small wage in the first couple of years until the business has a solid footing.
Going to be your own Boss is a brave and daunting task , you should congratulate yourself . good luck!
