If nothing else, the questions family and friends will ask you may help you refine your business idea. Given the uncertainty over where we re headed, entrepreneurs are going to have to do an even better job than ever when it comes to developing a business plan. If you re a restaurant operator, you might want to check with your state restaurant trade association, too. You might also want to talk to the folks at VISA, American Express or other credit card companies to see if they have any recommendations. I m not sure whether there s a ceiling on revenues before you need a business sales license.
Banks generally don t finance start-ups.
Financing any business with a credit card is doable, but clearly you re going to be paying some of the highest interest rates out there. Still, its one of the most popular ways of financing a start-up. For any professional service provider from advertising agencies to law firms I think your first step is to ask for references, and then check them out. I d want to know details about how much experience a particular lawyer has in business law generally, and in my industry particularly. The Small Business Administration isn't quite the lender of last resort, so I suspect that a past loan default could be an obstacle.