photo credit: Felix Francis

There are four critical areas causing business plans to change. All are changing trends in the business environment. The four areas we will examine are: 1) government trends, 2) economic trends. 3) technological trends and 4) cultural trends. Each one causes a specific impact on our decisions and requires us to make adjustments. Some changes are dramatic and require dramatic reactions to minimize their effect on our business.

First are government trends. There are several different sources caused by changes in regulations, tax policies and new legal precedence. Most of these are not a direct result of what we are doing in our business, but are the result of political and social shifts. On the legal side, changes result from court cases. It is absolutely necessary to address these changes because of both the financial and legal jeopardy. The result will be changes to not only our business plans but also our business conduct.

Second are economic trends. These changes occur because the local, national and international environment changes. Typical of these trends are changes in inflation rates, interest rates and the comparative value of currency (foreign exchange rates). Notice that all of these changes are directly and indirectly effects of government actions. These trends require us to adapt our business plan to the new conditions.

Next are technological trends. The amount of effect that these trends have on our business depends on how directly the changes impact our present operations. For instance, if we are making vacuum tubes when integrated circuits arrive, we will have to make some major changes. Note that the changes in our business plan may mean acquiring or learning new technologies, retraining our people, or seeking new customers and products. Inventors, with changes in product lifecycles or adopting new ideas, normally trigger these trends. We can prepare for these changes by keeping up-to-date with trends, new advances and what our competitors are doing. It may mean new sources of raw materials, different marketing techniques, or perhaps the loss or emergence of a new market.

Finally, cultural trends have a direct impact on our business plan and the business environment. The demographics of our customers may change, new social concerns can arise and new lifestyles evolve. If our customers move from the cities to the country, our business will be affected not only in what we sell, but also, in how we deliver it. Too, as social consciences change, acceptable business practices will change. These could include environmental and social programs. For example, government might require a business to provide a certain level of retirement benefit. These trends often burden businesses with new and unplanned costs but must be assimilated into the business plan to remain a viable enterprise.

Notice, these trend types have definite impacts on our business plan. They are all threats to present business operations and also present new opportunities. If we make changes in our business operations to become environment friendly, employee friendly, or technologically modern our business accrues new public interest leading to new sales. Too, we receive free publicity that positively impacts our business credibility and stature. Regardless of the fringe benefits to our business, we must continually be aware and open to new directions so that our business plan and operation doesn’t stagnate or become less functional in the changing environment.

Michael Russell
Your Independent Business Plan guide.

photo credit: Kevin

When looking at what are the most profitable small businesses, there are many avenues to explore. One of the challenges small business owners and home business owners face is marketing their business effectively. In addition to sound marketing methods, marketing to popular trends and markets with growing interest is important.

Advertising can be very expensive, but there are very effective ways of generating free exposure, especially today. With the technologies available via the internet many small business owners are generating massive profits with little or no marketing expense.

There are many opportunities right now for having a profitable small green business. This is a growing trend and most likely will not subside anytime soon. With the awareness level of the public on a constant rise regarding the environment, health and sustainability this niche is easily tapped in to with the right marketing techniques. Here are a few tips on how to capture this audiences at little or no cost:

1. Join social networking sites like Facebook and Myspace and network with like minded people. Here you can build relationships with green minded individuals through customizing your page and joining groups. As you build relationships you can introduce many people to your product by including information in your profile.

2. Write articles about your green products and include a link to your blog or website. This is free and doesn’t tale much time to generate an article that will show up in search engines and market from an educational perspective, attracting qualified prospects rather than cold calling.

3. Set up an autoresponder on your website. This can be done through Getresponse and will allow to build a targeted email list of customers that you can market to through an automated message campaign that does the selling for you.

Theses are just a few methods that can create a profitable small business. The customers are out there and you can attract them with proven methods at little or no cost.

Learn more about online marketing techniques at http://www.teachmeprofits.com

photo credit: x-eyedblonde

photo credit: gadl

Grants are given in various levels of government. There is the federal, state and then those being offered by non profit organizations.

The application process in any of these is the same. The difference will be in the requirements so the person has to get a brochure or do the necessary research online to pre-qualify.

The amount that a person can get from a US federal grant is not fixed. This means that Mr. X can get more than Mr. Y depending on the merits of the proposal. When this is awarded to the recipient, every penny spent must be recorded because the government would like to see where the money went.

People should remember that the money used to fund the project came from the taxpayers. It is only right to follow the terms of the agreement rather than paying hefty fines or penalties and in some cases be sent to prison.

If there is some money left, this should be returned so someone else who is applying for the grant is able to use it.

People can apply for a US federal grant in person or online. In any case, the person does not have to pay anything because it is free.

After the forms and the proposal has been submitted, the only thing for the individual to do now is wait. The news of the application may come in the next few weeks or months so all the applicant has to do is get the check and then use it in whatever project.

One way of checking on its status is by keeping the CDFA or the funding opportunity number that is assigned to each person applying for a grant.

The competition for a US federal grant is intense. Sometimes, the budget for a small business grant that amounts to $150 billion, is not enough for everyone in the entire the country.

This is the reason that people are also advised to apply for another grant through the other federal agencies. After all, there are no limits here so someone may be fortunate enough to get three or more.

Again, the only thing the government asks for is for the recipient to use every penny wisely.

The key to getting a federal grant is in the documentation. The proposal must have a purpose, a timetable, the objective, the probable out come and most importantly the amount that will be needed for the project.

The difference of getting a federal grant from those being offered by colleges and universities is that the person does not have to argue the case in front of a committee. The papers will speak for itself and hopefully, people will see its importance and decide grant the request.

Hundreds of federal grant applications come in through each of the 57 agencies every year. Each document is about 10 pages long so it takes time to read and review each one before giving the green light.

If the request was not approved the first time, as the saying goes, ” try and try again.” There are many reasons why it was rejected the first time so it wouldn’t hurt to review everything again so that next time, it can work.

There is money out there and this can come in the form of a grant from the federal government.

To access the internet’s most comprehensive grant directory, please visit http://www.us-government-grant.info

photo credit: wearitdotcom

The world is becoming extremely environmental conscience. With great pushes to save the environment and reminding everyone that they can do their part, the market in green has become huge. By the “green” market we are speaking of items that are environmentally friendly. There are several areas where the opportunities for small businesses are huge.

One area is the search for green apparel. Individuals are looking for eco-friendly clothing and the market in this area is growing. This means using organic materials such as cotton and using environmentally friendly dyes. Small businesses can find a market in this area because they can offer unique environmentally friendly clothing. More and more designers are becoming eco-friendly and the need for the service is growing. Getting your foot in now on this type of green business could be very beneficial for you.

Another green market which is growing is the use of solar energy. Many experts see this use of this growing, meaning that those who can install it will be in high demand. Starting your own small business in this area can tap into the green movement and hopefully provide a large and successful market for you.

Also, if you can teach a business what areas they can become more eco-friendly in you can start a small business in this area. Individuals who can advise businesses on making environmentally friendly choices and decisions are growing in demand. You can get your foot into the green market by providing the information to those who want to go green but aren’t necessarily sure how.

Going green is rising in popularity. If you are looking to start a small business looking into this growing market would be a very valuable starting point.

If you need money now, like I mean in the next hour, try what I did. I am making more money now than in my old business and you can too, read the amazing, true story, in the link below. When I joined I was skeptical for just ten seconds before I realized what this was. I was smiling from ear to ear and you will too.

Imagine doubling your money every week with no or little risk! To discover a verified list of Million Dollar Corporations offering you their products at 75% commission to you. Click the link below to learn HOW you will begin compounding your capital towards your first Million Dollars at the easy corporate money program.

Quickest-way-to-make-money-on-earth.com

photo credit: robertnelson

As any experienced marketer knows, differentiating your business from your competitors is a primary key to attracting new prospects and customers and retaining them once they decide to become your customers. But will the same “hook” that attracted them to become your customer be enough to maintain their loyalty? Let’s examine a few strategies:

Low Price: As people are always price conscience, especially in this slow economy, this can be an excellent method to attract new customers. However, unless your company plans on being a “discount house” operation, you will need to evolve a different strategy to retain those customers, otherwise they will simply seek out the next big discount elsewhere.

Great Products: Every business advertises great products. Why is your product better than your competitor? Provide your prospects with a reason to walk in your door. Then make sure your products are updated and tweaked regularly to ensure a competitive edge.

Great Service: This strategy typically does not attract new customers, unless you detail how your service will exceed your competitors. On the surface, there is nothing to differentiate your company from your competitors. Of course, great service is a major key to customer retention.

There are many other innovative marketing strategies being employed in the marketplace which are based upon surveys. These studies can give you an understanding of your target market’s concerns as well as focus on the latest trends. One such trend which every major survey (Harris, Nielsen, Mintel, Intellitrends) has been following is Going Green. With unstable fuel prices, new energy tax credits, and the promise of an upcoming New Green Economy, there has never been a better time to incorporate Green into your company’s business practices and products.

Will Going Green help attract new customers or members? According to Intellitrends, nearly 35% of those surveyed considered a company’s environmental policies before purchasing. Monster Trak reported that, for college graduates, this number was above 80% and 92% of these “Gen Y’s” were seeking to work for a company with a solid environmental and corporate social responsibility policy.

Even with all of the news and surveys on Going Green, business journals have estimated that less than 2% of all small and medium sized companies in the U.S. have begun any green initiatives at all. Pity. According to the Makovsky Green Gap survey, people are looking for businesses to take the lead in improving the environment. That could be a once in a lifetime opportunity to differentiate and really make a difference.

Joseph Winn is the President/CEO GreenProfit Solutions, Inc., an environmental consulting and benefits firm specializing in assisting small and medium size companies in Going Green. You may contact Joseph at:

jwinn@greenprofitsolutions.com

http://www.greenprofitsolutions.com

photo credit: Choubistar

In today’s global market place people are looking to go green for many reasons.
One good reason is the environmental impact going green has.

If you consider the impact of fuel burn in the daily commute to work the overpowering reason to go green is the cost of gasoline.

More and more the ability to stay at home and telecommute is taking first choice for many people.
Inter the home business arena and the ability to have family time when you want it, work in your sweats and slippers, not have to suck the exhaust fumes of the traffic ahead of you on the daily commute is another environmental plus.

Now the dawn of going Green really makes sense to the stay at home business. With the event of webinar conference calls, instant messaging, email, the access to the internet on every form of communication and the blossoming down turn of corporate jobs has awakened the drive of many home businesses.

The ability of high technology to interface with down home values has driven one home business to record setting growth. This is good news to those looking for a home business in this maze of global confusion.

To have a successful green home business you want to be sure that you do not jump on the wrong ship. Several things must align for green be effective.

The product should be toxic free with a wide range use (usable for animals and humans alike).

The return on your work should be substantial with no hard qualifying to keep your check coming in each month.

There should be no breakage on commissions that go to the company ever. Avoid the company that says in their income statements “we pay Up To” a certain amount this is a sign that they may not pay that much unless you qualify.

The company should have a strong vision of where they are going long term and should have a strong policy of enforcement.

There should be a global bonus pool that all the top distributors can share in which helps the many groups of distributors work together for the common goal of the company (IE, they all share in the global growth eliminating competition.)

Last but not least there should be many events tied to the internet for training the new growing business builders who want go green and make lots of green from home.

One company has accomplished all of that in one sweep. Growing at a rate in its first four years faster than Wal-Mart, E-bay, and if you think back that far even Microsoft.

This going green and high-tech for this company had created some income figures that out pay some if the top government paying jobs in the white house. This company has made more millionaires than the famed show Deal or No Deal. Going green can really change your life and life style. Try it you might like it!

Keith Hiebert has over 25 years of experience in the home business arena and as aligned himself with Xango a company that in five years is doing business in twenty five countries so far. Keith Hiebert can be reached by accessing his web site http://StreamLineQuick.com

photo credit: kevindooley

Grants come in a wide array of sizes, for a broad array of purposes, from a myriad of sources. While most grant information rests at the Federal level, there are plenty of other sources of funding for a business startup out there. This article will focus on getting grants from your local community.

First, there are sound reasons for your local chamber of commerce and better business bureau to offer grants for businesses to start up – businesses employ people, and boosting the local job market is one of the important things your city government does. Even if your business just employs two part time shipping clerks, it still makes sense for your local business development center to host a grant program to help new businesses start out.

Likely candidates names for your local municipality’s business development center will be Chamber of Commerce, Economic Development Council, or Small Business Development Corporation. In addition to grant proposals, most of them have extensive libraries on things like local tax regulations, federal and interstate and state regulations you need to concern yourself with, local labor laws, and how to get your jobs listed in the want ads and local unemployment center. There are also organizations run by retired businesspeople that offer classes in starting a business, including step by step instruction on how to set up a business plan, how to handle your first two years taxes (where the capital put into the business can offset the revenue generated) and more. You can find out more about what resources your local area has for instructing small businesses and incubating them by going to the public library, or checking out your city’s web site.

To get a local grant, you’re going to have to demonstrate a mixture of enthusiasm and hardheaded business sense. Passion counts, but so does a demonstrated ability to plan, as does focusing attention on how your business needs will tie to local suppliers and supply chains, and will provide jobs for local people. Many municipalities have something analogous to the Community Development Block Grant Loan Program. How this works is that the municipality or county applies for a grant (called a block grant) from the Federal Government to do local spurring of business development, and then uses that funding as seed capital to make low interest or short term loans to local businesses to help them start out, provided they hire low income people from the area.

Many larger cities have programs like the one in Seattle, where for businesses that will employ more than 100 people, and will need new construction, can get grants for new construction if the buildings are Green, or LEED certified, minimizing construction waste and power usage.

Many grants are tied to non-profit organizations. You don’t have to be a non-profit organization to benefit from such a grant; you can work with a local NPO to get the grant, under an agreement where they’ll use your firm for goods and services – this represents a triple win for the underwriting grant agency. It helps a non profit organization work on a project that ameliorates a problem they’ve been assigned money to fix, it helps you, by giving your company contracts for work to be done, and it helps the community by allowing you to hire more people to get the job done. The local restrictions on this sort of partnership are varied and numerous, and it’s worth it to talk to someone at the local city hall to see what can and cannot be done without conflict of interest or collusion complications.

The last place to dig for grants (or the first one in some situations) is a local trade organization. If you’re in a field with a vital services niche, and it’s going unmet, it’s not unreasonable to get grants from a business organization to open the type of business they support; it helps bring their profession into a higher profile, or represents moving into an untapped market to them.

All of these should help you find local grants that help you achieve your goals.

Every year, the government– local, state, and federal–gives away millions of dollars to people just like you for business ideas. Leon Edward shares information on government funding, Federal, State ,Local Grants , where to find start up grants, sources, free grant money cd, how best to fill out applications, grant management step by step tips, setting up a business steps at his website http://www.business-idea-grants.com

Get A Free Legitimate Home Based Business Report and Free Internet Business Library with Online Business Ideas, Free Training Newsletter at Leons Home Business Website http://www.homebusinessit.com

Leon Edward Helps people to start, grow legitimate Internet Based home business income with business structure, small business legal service information, step by step guides and online business training articles, reviews, marketing blog and newsletter… with legitimate business ideas and opportunities as top BBB rated home businesses, turnkey internet business, a 3 steps to internet income business proven mlms, even a start free work at home program.

There are many small business owners who have shied away from the concept of venture capital in recent times, for three main reasons. The first reason tends to be a general uncertainty as far as the economy is concerned. With global financial institutions and national banks collapsing in ruins as a direct result of risky or foolhardy investments, how is it possible to find a good, solid investor? The last thing any business needs is an investor promising the finance and then failing to deliver.

The second concern that entrepreneurs tended to have lately is that the investment itself is unlikely to be easy to obtain. Investors are clearly much more cautious when approaching potential business investments. This has tended to encourage small business owners to make assumptions about their own business model which may or may not be true. Specifically, one assumption is that their business is not likely to win the interest of investors, and therefore there is little point in trying.

The third issue facing business owners is the long term viability of their own business. Are their plans and hopes more than simple misguided dreams? If they have any doubts or worries about the future strength of their business, then clearly investors will see that lack of enthusiasm and pass them by. Any self doubts should be dealt with thoroughly before any capital is sought.

Venture capital as a concept has been around for at least a couple of hundred years, but it is only in the last couple of decades that private venture capital investors have sought to invest in smaller businesses. There are some venture capitalists around today who have a heritage much greater than a decade or two. For this reason there’s little point in a small business trying to secure funding from an investor who has generations of experience in venture capital.

Ultimately, however, potential investment will rest on a couple of aspects: the long term viability and profitability of the business model. For this reason it is essential for any business seeking venture capital to make sure that the core viability of their business is sound and has growth potential.

This makes sense, because in a world where businesses cannot take anything for granted, regardless of their size or heritage, it is essential that they are not deluding themselves into thinking that they have a profitable business in the making. Any good investor will have the experience and understanding to ask questions which pierce any flowery presentations and establish exactly how viable the business is, how profitable it will be, and what evidence and market research has been provided which does corroborate these facts.

It is facts, not fluff, in which the investors will be interested, and for exactly the same reason, so should the business seeking funding. To gain interest, today more than at any other time, it is essential for businesses to look critically in the nuts and bolts of their company, the potential, the market research and facts which can support their long term plans and predictions. Once they have achieved this then they are closer to gaining the interest of a venture capitalist or private investor.

Naz Daud is the founder of CityLocal. This Franchise Opportunity is for people who would like to work from home and be their own boss.
UK Business Directory
Ireland Business Directory

Copyright information: This article is free for reproduction but must be reproduced in its entirety, including live links & this copyright statement must be included.

photo credit: Digiart2001 | jason.kuffer

photo credit: Exothermic

If you are determined to make a go of building your own business, then you will be faced with a major challenge because of the lack of an established business track record. Most brand new businesses require some capital in order to get started, but without past business financial information it can be difficult to secure a loan for that purpose.

Banks and other types of lending institutions rely on receiving a variety of fiscal information from small business borrowers in order to make a decision about loaning money to them. If you are just starting out and your business is brand new, then you will not have cash flows or dividends information, or financial statements for your business that you can supply to the lenders. Without that detailed history of business operations and financial reports it is difficult to secure a loan.

Because of this situation, the banker or loan officer handling your small business loan will have to rely on your personal financial information. This means they will be primarily evaluating you, your business plan, and their estimation of whether or not you have the potential to become a successful business owner.

When it comes to new businesses, the lenders are very much aware that a very large percentage of new businesses fail in the first two years of operation. This fact, combined with the lack of a business track record, fiscal information and financial statements that lenders prefer to rely on are what makes the lenders so wary about approving loans for brand new businesses.

In addition to the failure rate during the first two years, the monetary information of most of the businesses that do survive that initial period rarely make a profit and are even considered lucky to break even. For this reason, it is strongly recommended that the person starting a new business venture has enough current assets set aside to cover their living expenses during at least the two years start up phase.

The good news is that in this day and age, with the many advantages that a small business owner can enjoy thanks to the internet and technology solution tools, they are often able to reduce overhead, and as a result, there are more and more companies that are able to become profitable more quickly. In these cases, when an entrepreneur is able to use their personal fiscal information to secure a loan for start up costs, then much of the success of the business will come down to wise and effective working capital management.

When applying for a small business startup loan, you should do as much as possible to make sure that your personal financial information is in as good a shape as possible before turning in an application. It is a good idea to get a copy of your credit report and make sure you know your credit score. Also, having a complete list of your personal financial statements and current assets, along with a detailed business plan, will help the lenders look favorably on your loan application.

Enrich your knowledge further by reading more great financial information articles from Mike Selvon portal. We appreciate your feedback at our financial planning blog where a free gift awaits you.

photo credit: Torley

There are various business finance plans open to a new start-up, but they all fall into 2 major categories, namely, owner financing and borrowed business finance. Each of these 2 major categories has an upside and a downside that every entrepreneur seeking business finance should be aware of. The key to success in business finance would then be finding ways to exploit the advantages of one’s chosen financing option, while also mitigating against its downside.

The first major business finance category is owner financing. Owner financing refers to money that the entrepreneur and other promoters of the business contribute to start it. In most cases, owner financing comes from the entrepreneur’s savings. The main advantage of owner financing as a source of business finance for a new start-up is that it comes at no cost (except possibly its opportunity costs) . As it were, the other major business finance option – credit – can usually only be had at a cost called interest. That is, all money which is borrowed, especially for business purposes, has to be paid with interest.

But it is a common occurrence to find the interest demanded on a loan being equal to all the earnings from the loan (especially in low margin businesses), thus crippling the business. A business built through owner financing does not have to suffer this interest cost. Thus money which could have been spent on paying interest can be ploughed back into the business, further strengthening its capital base. An added advantage with owner financing is that should the business fail -which is a sad but real scenario every serious entrepreneur should think about – the owner would not be left with debts pulling them back. With owner financing also, the entrepreneur doesn’t risk messing his credit history. This could occur in the event that the business picks up but does not perform as well as initially projected, and is thus unable to meet its obligations to lenders on time. The downside to owner financing as a business finance option is that it is usually very limited in scope, and is thus usually not an option for business that require huge capital outlays.

Turning to borrowed business finance, the credit options available to new start-ups include business loans and trade credit lines. The main advantage with credit as a source of business finance option is that it opens a larger pool of capital than is typically available through owner financing. This is significant because many entrepreneurs who attempt to start a business based on its alternative – owner financing – only often find themselves severely constrained financially. This lack of proper financing is in fact one of the leading causes of failure for many new start-ups. The downside with credit as a business finance option is the interest cost it comes at, which can prove to be a major cost for the business, especially during the business’ incubation and initial growth period when the business does not earn much.

Moreover, securing credit for a new start-up can be an uphill task, as most lenders openly prefer to give business loans to established businesses or at the very least businesses that have practically proven their viability rather than to new start-ups. And then of course there is the sad reality that if you start a business with borrowed funds and the business fails for one reason or another, your credit history could be messed forever. You can, however, mitigate this by registering your start-up as a limited liability company. This way, the business stands as a legal person, and you cannot be held responsible for the business loans it takes.

Now you have discovered the various finance plans is a great way to finance your start up company. Go to http://www.businessfinancesa.co.za to find out more.