E-Answer.Net

Hello Marin,



It's not as hard as everyone thinks, "Just Do It". I have owned and operated my own companies for 35 years. Yes you can use your own money, stay away from business loans. Next go to the local city hall where you live and get a business license, usually less than $100. Then go to a bank of your choice and set up your business checking account. There you go, you are in business!

imisidro gave you a very good answer;



I just want to add:



1) register the business on its own legal entity + own liability



so that no one can go after you personally for what you have



2) simply write a note with date stating that you, ____, lend $_______ to this company YouOWN!t.biz for the development and operating of the business



so that later you can do a profit and loss (= taxes)



3) get 1 new cellphone, with new # and dedicate it as your business phone from day1. Answer this phone business like.



4) create business card with the business (fictitious) name + phone # + email address + your name (no tittle, or just Director).



5) keep tract of all expenses incurred for business (even if it has to be the old show boxes)



6) demand for discount when you buy anything using the business forms.



Best of luck,

(I can be of further help, if needed)

The most common type of lender is the commercial bank, credit union, savings and loan companies, or investment companies. These lenders offer business loans, however, often times these loans must be secured. This could mean offering up your personal assets as collateral. Although, the business is yours to do withwilling to loan them business capital. Organizations such as the Women’s Business Ownership, Women Entrepreneurship in the 21st Century, and several others cater to lending money to women that wish to start-up a business, still others actually guarantee them business loans.

Best way to protect your savings and also finance your business is to keep your money in Fixed Deposit and take an overdraft against that security . You can decide how much is your need and can have Fixed deposit accordingkly. You also need helpof a C.A. to prepare your estimatres/project report for the business.

Of course you can start a business using your own money. In fact, it's a good idea that you are starting without a loan from anywhere. It is definitely legal



Read this step by step guide on starting a business in MA from the MA state government site



http://www.mass.gov/?pageID=mg2subtopic&...



If you need help or advice, here are places where you can get FREE support



SBA Massachusetts http://www.sba.gov/ma/

Massachusetts SBDC http://www.msbdc.org/

Beverly - NE Massachusetts SCORE http://www.scorenemass.org

Boston - Boston SCORE http://www.scoreboston.org

Brockton - SE Massachusetts SCORE http://www.scoresemass.org

Hyannis - Cape Cod SCORE http://www.scorecapecod.com

Springfield - W. Massachusetts SCORE http://www.scorewesternmass.org

The legal issues need to be addressed through local, state and federal authorities. I would suggest a business plan form (software or book) from the library to get and stay on track with what you need and don't need. You can get a mentor for free from the agencies below:

Earn money-

http://bucks4banner.com/