Do you have to good credit or an investor to start your own business.?

i would like to start my own dinner and comedy club but i don't have good credit or money i'm a single mother of 4 and i'm in law enforcement /security. i would really like my own buisness so that i'm able to spend more time with my family instead of working for someone else and making them rich.

In my experience it is almost impossible to get a loan to start a business, especially if you have bad credit.

Try friends and family for loans.

Don't give up. If comedy is your thing, try to start a less expensive business with comedy and work your way up. I imagine a club and restaurant must cost a fortune.

The best advise I ever got on starting a business was to create a business plan. It helped me see exactly what I needed and was like a road-map that always pointed me in the right direction.

I did however underestimate the amount of start-up capital by about one half. So whatever you think you need for money....you will probably be off. I have heard this from a lot of business people.

Try searching the Internet for small business assistance. Call your local Chambers of Commerce, sometimes they can point you in the right direction.

Best of luck to you.

no
start small then work your way up

if you use your head and stay determined you can do whatever you want.

Not if you get a goverment loan and your a women. You can find books on how to apply goverment loans and pretty many of them you do not have to pay them back. You have to do a lot of phone work and fill out forms but if you really want it. you will get it.

Yes. The money has to come from somewhere. If it's an industry you want to get into than you either have to have the money to do it yourself, or else you have to have the contacts in that industry (typically through working/managing a restaurant or bar) who are willing to believe in your vision enough to become investors.

I don't believe so with not so good credit.

But what you could do, is start a business from home. You have 4 children, so something that you can make as a "family" business. Teach um' young <smile>.

With a business from home, usually, the company will only require that you have a checking account that you would use to withdraw your purchases from and deposit your commission check to . Most will not accept a check and you wouldn't want to do business that way anyway.. takes too long for you and them.

There are many work from home businesses you can get involved with today that are extremely reasonable, wholesale pricing, include phenomenal training, exceptional support, web site... everything set in place for you to get started and maintain your very own business.

Do a search on the web and take a look see..

Best of Luck to YOU!

for small business the most important factor which will influence your buisiness is your good credit. it is because of your good credit people would willingly join hands with you and support you to the maximam possible extent.and i always belive that its not the money but people and man power you have are your biggest asset

I am the owner of my own business and a lawyer who advises business. Giving you some pointers from my experience, I would say that it depends on how much $ you need for the business. If you have $ of your own to put down into the business, then you have no problems with credit or getting investors. (Think of options like home equity, borrowing from 401(k) if allowed, family loans, etc. You can always get investors or partners to help you in your business, however, be careful who you partner up with. I tell people that choose your business partners even more carefully than your romantic partner b/c you won't have the hormones to help you cool down when problems arise (and they will b/c that is part of life).

If you go the banking route traditional banks that give traditional commercial loans do usually want good credit b/c the theory is if you don't pay your existing creditors, you aren't going to pay your business debts which usually are paid last.

However, don't give up! There are several options for financing your business. Numerous entities that will give loans to people in your category if certain conditions are met. Examples are in my area (WI) Women's Business Iniative, Small Business Association, (Name of County) Economic Development Center, and many other similar entities.

One area to focus on is to gain funding is your "minority" status. Just by being a woman you are classified as a "minority" for many agencies (i.e. Women's Business Initiative, etc.) To find out how to contact these places, you can go to the internet, ask the local chamber of commerce for information, friends, phone book, etc.

You may need to start small and grow from there, but that way you can make sure that this is what you want to do b/4 you get it too deep or if you want to do a different type of business, etc. Owning your own business is a lot of hard work, but well worth it.

Good luck!