Alma Emprendedora Alma Emprendedora Issue 001 2014 | Page 35

how you will go about starting your own
business as well as the specifics. You will
need to discuss the start-up costs, the
state of the industry, finances, and
perhaps even include graphs and charts
to highlight your research of the
industry. Keep in mind that this business
plan is what financiers or lenders base
the viability of your idea on.

or applying for limited equity bank loans.
You must decide if you can relinquish
some ownership of the business for the
first two types of financing options or be
willing to hand over a monthly loan
payment and a sizable chunk of your
profits to the bank.

3- Financing Your Ideas and
Starting Your Own Business

Once your creative business ideas
have been turned into words and are
approved, your financier will give you the
thumbs-up to begin. Should you need a
place for your business, scout out an
appropriate location and begin the
leasing process. Once you have a
location locked in, you’ll
need to begin spending money on the
business space by purchasing items
according to your needs. If you’re
starting your own business from home,
you will still need to acquire licenses and
permits to operate your business legally.
Proper insurance for your business and
products is necessary so that you will be
covered in the case of an accident or
disaster.
Generally, small businesses have
three financing options: asking friends
and family for a loan, finding investors,

4- The Grand Opening: Advertising
and Marketing Tactics

After the financing is out of the way,
you can concentrate on the particulars.
Next, you must decide on a legal
structure when starting your own

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