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Starting A Women’s Business

June 19th, 2013 11:01 pm

Women are leaving the workforce in droves in favor of being at home. Not to be a homemaker, but as job-making entrepreneurs. Women have been starting businesses at a higher rate than men for the last 20 years and tend to create home-based micro (less than 5 employees) and small businesses. For some women, dissatisfaction with the corporate world begins before they have a chance to even enter the workforce. Nowadays, more women are starting their own businesses in order to live the lives they want. Women can start basically any business. If you want to take control of your finances and be your own boss, there are several types of businesses you can start. Choose a business that you know something about and that interests you.

You’ve finally decided to start your own business; it looks like you’re up for the challenge. First, a woman should make a list of all of her strong points and skills that she could offer her business. Some of the most successful businesses run by women developed when they built on their interests or hobbies.

Women are excelling in small businesses. They start businesses faster than the national average, are more likely to succeed and are experiencing dramatic increases in employment, revenues and net income. And while a great number are home-based and sole proprietorships, women-owned businesses have grown significantly in nontraditional industries such as construction, wholesale trade, agriculture and manufacturing. Before you delve into the many possibilities, consider your likes and dislikes to narrow the field. Loving what you do is the key to making any business work and become successful.

The next step is to find some way to finance the best business idea since the invention of the wheel. A female entrepreneur know that there are quite a number of women business grants available, but the trick is to find out which ones will do you the most good. Women’s Business Grants are numerous, but many women are not aware of all of the offerings available to them. Some of the business grants that are available are just for women. There are so many options not only for just to own or maintain a business, but, also to help with schooling to help you with your business. This can help with you bettering yourself to maintain the business.

Getting financing can be difficult, especially in these tough economic times. Traditional banks are still lending money for start-ups. Requirements may be stricter, but you can be successful at getting the money you need to start your business if you present a well-researched business plan complete with financial projections. You must also have a good credit rating.

Whether you decide to start your own business or buy a franchise, create a business plan that includes finance projections, a marketing strategy and an exit strategy. Without a plan you are working blind and unprepared for the challenges that will come with the territory. A business plan will help ensure your success.

Women who surround themselves with other entrepreneurial women are more likely to succeed. When leaving a secure job to become a business owner it is likely that there will be a bit of culture shock. Alleviate the shock of going into business for yourself by starting a part-time business while working a full-time job. This way you can work up to finally quitting your full-time job and be able to afford and sustain your new entrepreneur lifestyle.

What I Should Know Before Calling a Bankruptcy Attorney

January 21st, 2013 9:30 pm

There are millions of Americans who have a large amount of debt. Many of these individuals are unable to repay their outstanding debt. Many people I speak to each day call me about their financial problems, but have no idea what to expect from a bankruptcy attorney. Most people, by the time they call a lawyer, have at least one pressing problem. Like, for instance, a lawsuit, or a wage deduction summons (garnishment). So you will have that on your mind. You need to gather up any papers you got from the lawsuit. But, don’t stop there. You need to look for your other bills, all of them!

Bankruptcy is a process that involves your whole financial picture. So that means you need to have an idea of which company you pay for each thing you own, or are paying for: Your house- name, amount of mortgage payment each month, and whether that payment includes taxes and/or insurance. Are you up-to-date in the payments on your house? If not, how many months did you miss? Your car(s). Which company do you owe? How much are the payments? And how many months are left (or what is the balance)? Most of the time, people want to keep their house and car(s). Even though you want to keep that thing, you still need to discuss the payments with your attorney. This will be factored into any discussion of a possible bankruptcy case. You also need to have ready: how much you owe the IRS and state taxing authority for income or other kinds of taxes. We also need to discuss this, and many times a bankruptcy filing can help with tax bills. Most of the time, you have to pay them, but bankruptcy can help you get a temporary break or a better payment plan.

Then, you need to remember all of those other pesky bills, like credit cards, and medical bills, that you still owe. Some of the credit cards you may still be paying on each month. Some other ones, you may have forgotten about because you stopped paying a long time ago. Regardless, all are important to tell your attorney about. Even if you want to keep a small account with a department store, or other company, you need to include it, and bring it in. Besides, I’ll run a credit report and all of those bills will show up anyway. If you run a credit report, why do I need to give you any bills? Because, not all bills show up on credit reports. It is up to each creditor to make periodic reports on your payment history. But not all companies do this. For example, most medical bills don’t show up on credit reports. They will show up if you are sued, but, before that, most medical creditors don’t report their bills regularly. So have as many bills as you can find ready to talk about. The purpose of the first call is for you to have an idea of whether the attorney can help you, and, if so, what to bring in so we can review it to see what your options will be. If you are well-prepared for that first call, you’ll be ready to set up a consultation with one of our attorneys.

The Showalter Law Firm, P.A. represents individuals and businesses in Fayetteville and throughout the State of Arkansas in a range of debt relief measures. Whether your situation calls for the filing of a Chapter 7, Chapter 11, Chapter 12, or Chapter 13 bankruptcy, they can help you or your business get out from the burden of overwhelming debt and find a fresh start financially. For details about their work with each of these filings, visit the bankruptcy overview.

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