Financial Options for Small Business Owners

The American dream, the dream of starting your own small business, buying a home with a white picket fence, and raising a family. Yes, many Americans are still starting small businesses everyday, taking huge financial risks. However, most inspiring entrepreneurs never even have the chance to take the first step towards entrepreneurship due to the biggest problem that even this entire country is facing; financial backing.

Luckily, there are tons of websites that are dedicated to helping inspiring entrepreneurs obtain the financial backing they need to start their companies, finding small business owners a mentor or counselor, and offer professional help and advice on company advancement. A couple of these websites are websites such as www.eda.gov (U.S. Economic Development Administration), and www.microenterpriseworks.org.

The first website, www.eda.gov, offers a few different financial funding options to small business owners. Federal funding is available through the government to businesses that qualify for specific federal funding options, as well as grants and special programs to help small businesses reach success. The website also contains an application page that details exactly what is needed and expected from small business owners to achieve financial backing.

The second website, www.microenterpriseworks.org, also known as AEO (Association for Enterprise Opportunity), is a national organization that consists of hundreds of member organizations. They have helped over two million small business entrepreneurs support their businesses and well being through business ownership. These organizations offer different funding options for small businesses as well as help business owners plan ahead for their target market, and to set goals to achieve success.

In today’s economy, small business owners need as much help as possible to reaching financial funding even for the simplest of businesses. Some small businesses may achieve financial backing by a small business loan, or some may need only as much as a credit card with enough of a spending limit to purchase lawn care equipment. However, for other small businesses that require more funding to launch off he ground, websites such as these are a secret weapon.