Connected Business Communities

minority business ownership program

Financing Your Franchise

In the current economic climate, financing your new franchise may be more challenging than it once was.  With less easily available credit, it is more important than ever to take stock of what is available to you from the onset.  Work together with your franchisor to find what options will work best for you to ensure that your business is established on a firm financial foundation.
Personal Resources
If you happen to be fortunate enough to be sitting on enough capital to start your business and float it through the rocky terrain of start-up then so much the better.  However, that ideal situation is not a reality for most, nor should you be constrained by it.  Nevertheless, the more capital you can generate on your own, the better off you will be.
Take a look at what you can realistically bring to the table.  Home equity is always a good start and can be leveraged as collateral for a loan to start your business.  Creating a C corporation from your 401k or (other type of retirement fund) can also provide you with a source of funding.  Rallying the support of personal private investors is also an excellent way of generating capital for your business.
Lenders for Business
Traditional lenders are still an option for starting up your business.  In the wake of the subprime collapse, many major lenders shut their doors, but those gaps in available credit have begun to be filled by alternative lenders.  Gaining the backing of the small business Association can dramatically improve your chances of finding a loan for your business.  If you haven’t committed to a franchisor yet, the SBA’s Franchise Registry also offers a great starting point and can help you find a franchise with strong credibility.
Site Specific Sources
If you have already committed to a franchisor, you might wish to explore sources specific to your state, area and even specific site.  Many states and cities offer financial incentives to encourage new business in the interest of economic development and job creation.  If you already have a site in mind, you would be wise to explore what financial incentives might be available through your landlord during the lease negotiation stage.
Other Sources
There are other available sources of capital targeting specific groups of business owners.  There is a wealth of support to be had by veterans, minorities and women (much of which is offered by the International Franchise Association).  These programs exist to increase the presence of these under-represented groups in the business community and to promote diversity.
Regardless of your financial background or situation, if you are determined and realistic in your approach to new business ownership, then you stand a reasonable chance of being able to fund your business venture.  Bring the same enthusiasm to your quest for capital that you intend to bring to the operation of your business.  Commit yourself to the same level of diligence and research in your investigation of available financial sources as you did in your search for the perfect franchise.

About the Author

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Are minority set aside programs morally acceptable?

It is often very difficult for a woman or a minority to start a business. Banks and other service companies are often not receptive to supporting new businesses with diverse ownership. Or so the claim is made. As a remedy, many states have taken to requiring certain set aside programs, where a percentage of business must go to minority or women-owned businesses.

Once worked at a bank-still have friends there. Yes they are set aside certain programs from minority. Because they do face different situations that make it difficult for some. —-

example– the foreigner would have different surroundings with no family support being away from home. Another would be language until one learns to communicate with a business world how would they buy a business (or work)to sustain himself (or herself) How would he buy so it was done to a legal standard. So we don’t have sustain him . Race doesn’t cut to much loans-one way or the other (unless you used a facility that caters to some–usually private) Now on to Women no real help there- neither–unless you go to Women Institution just like race. The numbers seem pretty even -on loans given to race or sex-very even- -not a bank issue. But some very good Bank loan officers who give loans-know where these extra loans can be found to help you get a loan through them (who will take part responsibility) -they will find them for you (for them)-if you have reason. Many smaller (sometime Private but Rich) are very good places to go. They want you and they will try harder. So there are programs for more foreigners than there would be for American Citizen does not matter what sex or race . And other program could be found got to look harder. And the banks do have to “account for” if none of these programs or avenues are every used at their bank. It does happen. Sometime with reason. These program has been in for quite a few years now-not new. How do you think we got so many of the Franchises .

No sure what you mean morally acceptable-what is immoral about programs?
Best Wishes if your looking for one

The Small Business Administration’s 8(a) Minority Business Development $28.13 Title: The Small Business Administration’s 8(a) Minority Business Development Program : Hearing Before the Committee on Small Business, United States Senate, One Hundred Fourth Congress, First Session, April 4, 1995 Publisher: Washington : U.S. G.P.O. : For sale by the U.S. G.P.O., Supt. of Docs., Congressional Sales Office Publication date: 1995 Subjects: Minority Small Business and Capital Ownership Development Program (U.S.) Minority business enterprises — United States Federal aid to minority business enterprises — United States Government purchasing — United States Notes: This is an OCR reprint. There may be numerous typos or missing text. There are no illustrations or indexes. When you buy the General Books edition of this book you get free trial access to Million-Books.com where you can select from more than a million books for free. You can also preview the book there.

Minority Broadcast Ownership $52.95 Minority Broadcast Ownership

Sba’s Minority Business Development Program; Hearing Before the Commit $21.88 Title: Sba’s Minority Business Development Program: Hearing Before the Committee on Small Business, House of Representatives, One Hundred Third Congress, First Session, Washington, Dc, September 22, 1993 Publisher: Washington: U.S. G.P.O.: For sale by the U.S. G.P.O., Supt. of Docs., Congressional Sales Office Publication date: 1994 Subjects: United States. Small Business Administration Minority business enterprises — United States Public contracts — United States Federal aid to minority business enterprises — United States Notes: This is an OCR reprint. There may be numerous typos or missing text. There are no illustrations or indexes. When you buy the General Books edition of this book you get free trial access to Million-Books.com where you can select from more than a million books for free. You can also preview the book there.

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Sba’s Minority Enterprise Development Program and the Proposed Busines $23.01 Title: Sba’s Minority Enterprise Development Program and the Proposed Business Development Opportunity Act of 1994: Hearing Before the Committee on Small Business, United States Senate, One Hundred Third Congress, Second Session Tuesday, August 9, 1994 Publisher: Washington: U.S. G.P.O.: For sale by the U.S. G.P.O., Supt. of Docs., Congressional Sales Office Publication date: 1995 Subjects: United States. Small Business Administration Minority business enterprises — United States Finance Federal aid to minority business enterprises — United States Small business — Law and legislation United States Notes: This is an OCR reprint. There may be numerous typos or missing text. There are no illustrations or indexes. When you buy the General Books edition of this book you get free trial access to Million-Books.com where you can select from more than a million books for free. You can also preview the book there.

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Capital For Minority Business Owners Made Easy $74.99 CAPITAL FOR MINORITY BUSINESS OWNERS MADE EASY P4 Audiocassettes Amazon Version PWritten by one of America’s leading experts in the industry, Mervin Evans, the author of NEW YORK VENTURE CAPITAL DIRECTORY! Capital for Minority Business Owners Made Easy! will teach you what are the best methods to search for investment capital. This exciting program forces you to research and plan for the future. The package provides the user all of resources needed to locate investment capital. You will find Merv’s presentation style refreshing.

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Media Diversity: Economics, Ownership, and the Fcc $5 pMedia Diversity: Economics, Ownership, and the FCC provides a detailed analysis of the regulation of diversity and its impact on the structure and practices within the broadcast television industry. As deregulation is quickly changing the media landscape, this volume puts the changing structure of the industry into perspective through the use of an insider’s point of view to examine how policy and programming get made.brAuthor Mara Einstein blends her industry experience and academic expertise to examine diversity as a media policy, suggesting that it has been ineffective and is potentially outdated, as study after study has found diversity regulations to be wanting. In addition to reviewing diversity research on the impact of minority ownership, regulation of cable and DBS, duopolies, ownership of multiple networks and cross ownership of media on program content, Einstein considers the financial interest and syndication rules as a case study, due to their profound effects on the structure of the television industry. She also poses questions from an economic perspective on why the FCC regulates structure rather than content. Through the presentation of her research results, she argues persuasively that the consolidation of the media industry does not affect the diversity of entertainment programming, a conclusion with broad ramifications for all media and for future research about media monopolies.brThis volume serves as a defining work in its examination of the intersection of regulation and economics with media content. It is appropriate as a supplemental text in courses on communication policy, broadcast economic andmedia management, broadcast programming, political economy of the mass media, and media criticism at the advanced and graduate level. It is also likely to interest broadcast professionals, media policymakers, communication lawyers, and academics. It is a must-read for all who are interested in the media monopoly debate.

Tax-Wise Business Ownership $12.82 DIVITax-Wise Business Ownership/Iis an easy-to-understand tax guide for business owners. Written by an attorney who is also a business owner,ITax-Wise Business Ownership/Iis easy to read with plenty of examples of how the tax laws work and includes an alphabetical list of the various business deductions and how to take them. Readers will also learn about the various business structures that exist today and how those structures impact the bottom line./DIVDIVBToby Mathis/Bis a lawyer, business owner, and investor from Seattle, Washington. His practice focuses on helping businesses and their owners prosper./DIV

Employee Share Ownership: Winning Strategies For Business Performance $37.9 Employee Share Ownership: Winning Strategies For Business Performance

Bringing Your Employees Into The Business: An Employee Ownership Handb $7.44 Bringing Your Employees Into The Business: An Employee Ownership Handb

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Women and the Business Game: Strategies for Successful Ownership $3.24 Women and the Business Game: Strategies for Successful Ownership

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Capital For Women & Minority Business Owners Made Easy: Funding Worksh $242.99 ISBN: 0914391348 is Set of 2-DVD, 4-Audio CD and 1 1,100 Page Workbook formattted on CD in Adobe Acobat File -CD-ROM. You Must have a Computer with a PDF Reader or a Adobe Acrobat software package to use this product. PCAPITAL FOR MINORITY & Women BUSINESS OWNERS MADE EASY FUNDING WORKSHOP PWritten by one of America’s leading experts in the industry, Mervin Evans, the author of NEW YORK VENTURE CAPITAL DIRECTORY! Capital for Minority Business Owners Made Easy! will teach you what are the best methods to search for investment capital. This exciting program forces you to research and plan for the future. The package provides the user all of resources needed to locate investment capital. PYou will find Merv’s presentation style refreshing. PCommunity People Press BRLynette A. Bigelow BRPublisher BRPO BOX 71351 BRLos Angeles, CA 90071

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Employee Ownership $60.09 Employee ownership occurs when a business is owned in whole or in part by its employees. Employees are often given a share of the business after a certain length of employment or they can buy shares at any time. A business owned entirely by its employees (such as a worker cooperative) will not, therefore, have its shares sold on public stock markets, often opting instead for mixed ownership arrangements involving a trust. Employee-owned companies often adopt profit sharing where the profits of the company are shared with the employees. They also often have boards of directors elected directly by the employees. Some corporations make formal arrangements for employee participation, called Employee Stock Ownership Plans (ESOPs).