Crowdfunding is the practice of soliciting very small amounts of money from a very large number of individual, non-accredited investors. Small business owners are getting rightfully curious about this new “Crowdfunding” concept, especially since it seems to be a way for small business owners to raise new money over the Internet from non-accredited investors....
We recently interviewed Mary Slane of Slane Financial about why business owners seeking funding could use advice from a financial planner. YMT: What’s a common misconception about financial planning that small business owners have? MS: They think they don’t need it. They think that if they have an accountant and an attorney that they...
We recently interviewed Janet Harrison, a Certified Financial Counselor with Consumer Credit Counseling Service, about credit counseling and how it can help business owners seeking funding. YMT: What’s a common misconception about credit that people in small businesses have? JH: People do not understand the actual cost of the credit. So for example if...
We recently interviewed YMT president Mary McCarthy about YMT’s upcoming funding event. YMT: What’s a common misconception about business plans and strategies that people in small businesses have? MM: I think there’s two: one is they feel that writing a business plan is something they have to do, and not necessarily use, and two...
That is definitely what we need as a small business owner. Just give us as much money as you can and we will make the business work. Our frustration is not that we have a low credit score or have not saved money to fund our business; our frustration is that we know there...
I am sure you have heard the statement that the key to success in real estate is, “location, location, location.” In a small business the key to success boils down to one thing as well, and that is “planning.” While I understand that as the business owner you do not have to take the...
This week I attended a roundtable discussion with Congressman Pat Tiberi and a number of other small business owners. The topic was, “what are the major issues affecting us as small business owners.” Obviously funding was a big point of discussion during the roundtable. The challenge of securing adequate funding was shared by almost...