Small Business Financing and Franchise Financing Blog

Laid Off? Start A Business or Franchise

Wednesday, June 3
Guidant Financial Group is a leader in small business financing. The rise in unemployment can certainly be attributed to the spike in interest we have seen in small business ownership. Yesterday, Kiplinger.com published an article called, Laid Off? Start a Business. The article does a great job identifying that there are many opportunities in small business both big and small. An SBA economist, Brian Headd, was quoted as saying, "Non-employer firms have the highest growth when the labor market struggles and the lowest growth when the labor market is doing well."

We were also excited to see that they gave exposure to SCORE. SCORE is a tremendous organization that Guidant has supported for years. In fact, we sponsor the Seattle Score web site. SCORE helps counsel individuals who want to get into business for themselves - but need a little extra help. While SCORE is great as entrepreneurship counselors, other firms can help those who want more information on franchising. Companies like The Entrepreneur's Source, Frannet and FranChoice help individuals identify, evaluate and purchase franchise opportunities. Franchising is particularly attractive to those that have years of business experience and just need a semi-predictable system to follow.

How do you finance a business? Kiplinger pointed out the obvious in SBA Loans. But unsecured loans, peer-to-peer lending and equipment leases are all acceptable financing options. Additionally, if you expect the business to be extremely successful, there is a way to invest your retirement funds into a business without taking a distribution. The Guidant 401(k) is the leading small business investment vehicle.