(1888PressRelease)
April 01, 2009 - If you listen to the news reports and pundits, small businesses are having an extremely difficult time obtaining financing due to the mortgage industry’s adverse impact on the banking industry and the resulting tightening of credit.
“Lack of capital is not the real issue, although it is a much bigger issue than in 2007. Capital in 2009 is still available. The primary issue is lack of knowledge of and access to capital. The younger the entity, the fewer the sources,” says Tiffany Wright, author of the new book Help! I Need Money for My Business Now!!. “Most small and medium businesses are completely unaware of the variety of financing sources that exist for their business type or they are highly unprepared to meet the requirements from a relationship and financial packaging perspective.”
Wright contends that there are always several financing alternatives available for any small business. To access these entrepreneurs and business owners must educate themselves and think creatively. “Most business owners think of bank financing when you say debt and venture capital when you say equity. While these two sources provide a significant amount of small business funding, there is a vast pool of working capital for business and other ways to raise capital available from other entities. There are even providers of financing that looks a little like debt and a little like equity.”
Help! I Need Money for My Business Now!!:How to Access Traditional and Creative Financing for Your Business has over 25 in-depth yet succinct case study examples of what other real business owners have done to raise capital to grow their businesses. The material covers not just what is available but the how to obtain it - what works best and why for your particular business type, templates, websites. It includes everything from pursuing business-friendly community banks to forming strategic alliances to tapping supplier financing. This ebook manual shows business owners how to raise the capital they need to survive the economic downturn and grow their business. Help! I Need Money for My Business Now!! helps business owners lay the financial framework to create a viable, sustainable business to sell or pass on.
According to the U.S. Census Bureau, as of 2004, there were nearly 5.9 Million firms with employees in the US and 19.5 Million firms with no employees. 2.8 Million firms had 1-4 employees and another 1.0 Million firms had 5-9 employees. Only 86, 538 companies had 100 or more employees and only 17,047 of those had 500 or more employees. Thus the impact of small businesses on the economy is huge. Wright says, “We must help more small businesses grow into larger, financially stable and viable firms. This way we ensure the return to health of the American economy.”
Help! I Need Money for My Business Now!! can be ordered from Toca Family Business Services; or online at http://www.moneytogrowbusiness.com.
###
