Many entrepreneurs will attest to the fact that finding funds for a startup can be one of the most challenging parts of the process. A new financial regulatory bill proposed by Senator Dodd might mean entrepreneurs have to get more creative than ever in finding funds for their startups.
According to the Small Business Administration, small businesses have generated 64 percent of net new jobs over the past 15 years. Now, as the national unemployment rate lingers at 9.7 percent, Congress is taking measures to help entrepreneurs find tax relief with the hopes of boosting job creation.
Intel recently announced an initiative in which it will partner with venture capitalists across the country to give $3.5 billion toward the advancement of tech companies in the U.S.
According to a report from the Kauffman Foundation, many entrepreneurs fail to capitalize on opportunities for business formation because they fear risk-taking endeavors. But what if an online resource could help an entrepreneur determine the risk of their new company?
Economic hard times can still be a good time for business formation; the SBA reports success of entrepreneurial pursuits heightens in recession. But finding startup funds can be one of the biggest barriers to business formation in a downturn, so entrepreneurs should think about how to cut costs on founding finances.
A report from the Small Business Administration suggests that an economic downturn might be a prosperous time to start a new business. For those contemplating business formation, Entrepreneur magazine’s biggest tip is to plan.
Incorporation is an important process in starting a new business. Still, business formation doesn’t end simply when the initial shares are sold to stockholders and the entity is legally established. It’s important to properly document all corporate decisions.
Entrepreneurs who are undergoing business formation might be interested in learning about those who will join their ranks thanks to a contest hosted by the Chamber of Commerce and Industry of Saint-Laurent. The competition will award startup funds to promising business plans.