Question Details

If you dont have the initial funds needed the pitching starts with whatever you have. A simple way is to find a partner with funds and maybe with knowledge about the business area you are in. Good luck. Flemming Posted on 02/11/19
February 11, 2019
Check out peer to peer funding. A good site is this helps. Posted on 02/11/19
February 11, 2019
Getting money to use money to get money sounds like the way starting and operating a business works, but I would caution against it. Shift your focus from money to your product and service. Develop a unique value proposition and build strong connections. This will provide a strong foundation for your business to grow and will, hopefully, leave you debt-free. Good luck! Posted on 02/12/19
February 12, 2019
Hello Donte, You have listed an LLC in your business question, but your profile fits is more tailored to a non-profit organization. There are funding avenue available through both venues, but you must choose one or the other. Here are some tips that may help: NON-PROFIT ORGANIZATIONS: Most small business government grants go to non-profit organizations because of the nature of the work such entities do. A non-profit organization operates in much the same way that a for-profit company does except that the founder (s) work for a board of directors that pays them a salary and, upon registration with state and federal governments under IRS provision 501 3 (c) or a similar designation, the business pays no taxes.What would normally be considered profit in a for-profit company is re-invested back into a non-profit to further its work. Annual reports are required by the IRS to demonstrate the re-investment and maintain a tax-free status. Non-profit organizations are usually initiated to pursue a religious or socio-economic endeavor serving the public, such as churches, health care, public information, communications, high technology, or similar undertakings. No one owns a non-profit organization. A board of directors, a charter, articles of organization filed with the state and the IRS designation with the federal government establish it as a public entity. In the event it is discontinued, all proceeds and assets are distributed by the government for public use and no one individual benefits. A non-profit charter must include that provision.The following link at NOLO provides the chronological process between a state registration and the IRS in applying for non-profit registration and tax-exempt status: ******** ******** FOR PROFIT ORGANIZATIONS: A for-profit organization is founded by individuals specifically defined by name as owners in the articles of incorporation with the state and registered with the federal government for tax purposes. There are many different types of for-profit entities (S Corp, Sole Proprietorship, LLC, Partnership, etc.); each type has its own unique tax and operating characteristics. A for-profit organization exists for the specific purpose of providing a return on investment for the owners. All assets on the books of the company are the property of the company, and although certain types of corporations, such as a Limited Liability Company (LLC) reduce the risk and insulate the owners' private assets to some degree, in general what is invested by an owner in the firm is the property of the firm and subject to business risks and the laws governing such matters. In return the owner or stockholder is entitled to the return on his or her investment as an individual in the form of dividends, direct proceeds after costs or other forms of entitlement (conveying what is commonly known as profit). Posted on 02/14/19
February 14, 2019