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Tell us more. Who are you??
If you want to open a children's boutique, you need a Business and Marketing Plan.
Then I can give you suggestions, LUCKIEST
I'm a full time mom that wants to venture out and open a small business. I have a business plan but don't have the capital to support it.Want to know if i should even consider going to the bank and present them with a business proposal? With this economy and no capital at hand ...What do u suggests?
Hi arkd08,1 of 1 people found this helpful
First thing, don't let a bad economy deter you from starting a
business. The economy is slow but not stagnant. Mothers will still
buy clothes for their children, albeit, not as frequently. Banks too
are still open for business. If you have excellent credit and a sound
business plan, they will lend to you. However the rate you get may not
be as favorable. So do compare rates. A good site for this is
bankrate.com. Also the current state of the economy may be to your
advantage. The weakness of the
dollar should fuel international demand. So think about an online shop to complement your brick and
mortar. Lastly and most importantly, control your costs, be cautious
PS - Banks are not the only source for funding. You can borrow loans
through P2P lending. These are social sites where people lend money to
other people. Most often the rates are better than those offered by
banks. Prosper.com is a good one. I am a lender there. But they have
temporarily stopped accepting loan requests. Others are zopa.com and
virginmoney.com. Whatever you do, stay away from credit cards!!
Thank you, this is very helpful...:)