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How Can I Start My Own Business With No Money
November 19, 2017 6:22 am
Like others do, you are excited to start a business. Maybe you enjoy the thought of launching and having your own enterprise or maybe you have some ideas. You are willing to take risks such as leaving your job or pursuing without personal revenues for a while. However, there is a logistical hurdle that stops you and that is you do not have much money.
It might be a major problem, yet lack of personal capital must not stop you from pursuing your goals. As a matter of fact, it is possible to grow and start a business with almost no financial investment if you are aware of what you are doing.
Why Businesses Need Money?
First and foremost, you have to look at the reasons why businesses need money at the first place. There is no uniform fee for building businesses, so various businesses would have various needs. It is also important that you estimate first how much you require before starting to find some alternative methods to fund your business.
Consider these things:
Employees, Contractors, and Freelancers. If you cannot do it alone, you have to hire people on your payroll.
Legal Fees. Are you consulting lawyers throughout the process of business development?
Operating Expenses. You should dig into the crannies and nooks and never forget about marketing.
Memberships, Subscriptions, and Associations. What affiliations and publications will you subscribe to each month?
Office Space. It’s a big expense and you can never neglect the things such as utility costs, internet, and janitorial services.
Equipment. Do you require software or any specialized machinery?
Supplies. Do you buy raw materials?
Permits and Licenses. You might have to keep special paperwork and registry in mind depending on your area’s regulations.
With that in mind, there are only two ways to start a business with no or less money and that includes increasing the available capital and lowering the costs from the outside sources. You also have some options such as:
Minimize Your Needs – Changing your business model is basically your first option to demand lesser needs. For instance, if you’re planning to start a company as a freelancer or consultant, you might reduce the expenses of your employees by being your own employee at the beginning.
Outsource – It’s about getting funding from the outside sources.
Bootstrap – This option invokes the concept of a warmup period for businesses. Rather than going straight to full-fledged business mode, you will start with the basics. You can also launch a blog a niche service, minimizing your scope, your profit and your audience to get a kick-start. If you could start as self-employed person, you will avoid some costs.
With such options, you will be to reduce your own financial investment to almost nothing. You might have to make other sacrifices including starting small, taking on debts or accommodating partners, yet if you believe in your own ideas, none of such losses must stand in your way.
Sumon Business Adventure in Camella San Jose City
October 11, 2017 2:15 am
Mr. Sumon is a Bangladeshi businessman who is very wealthy and has been thinking about expanding his business in the Philippines. So, he decided to carry out a study of places he could invest his money. After careful thinking and carrying several types of research, he chose to invest in Nueva Ecija.
Surrounded by a peaceful charm, and scenic beauty, local delights and modern conveniences, Nueva Ecija is one of the best places to live in the Philippines, especially in Cabanatuan City, the province’s most urbanized city. The city has house and lot communities that is friendly, well established and self- sustaining. At the same time, it is easy to commute to work, shop and dining centers. Cabanatuan’s residential concept is the epitome of smart living and overall, it is wise to conduct business in this city.
With all of these positive findings, Mr. Sumon was now convinced more than ever that Cabanatuan was his best bet for investing in the Philippines. He started off with investing lots of money into the transport business in Cabanatuan City thinking it was a great investment. However, he was shocked with the turnout of events when he was unable to have good returns for his vehicles. In the end, most of the vehicles he bought got bad, and some even crashed. With all of these disappointments, he had made up his mind to return to Bangladesh. When his new-found friend in the Philippines talked to him about investing in real estate in San Jose City, a place close to Cabanatuan. He hesitated at the start and told his friend he was going to think about it, but still left for Bangladesh.
In Bangladesh, he remained in contact with his Filipino friend who kept encouraging him to return to San Jose City and try investing in real estate. So one day, he was finally convinced to return to the Philippines. He made up his luggage and went directly to San Jose City. As soon as he arrived, his Filipino friend told him about some interesting properties he could acquire and put on rent. He listened to his friend’s advice and got the property; he discovered that this was a great investment because the people of San Jose are honest and kept paying his rent in due time.
Currently, Mr. Sumon is excited because there new house and lot communities that are opening for sale in San Jose City. First, Lumina Homes came into the scene. Then now, Camella San Jose City is being built.
Camella San Jose City is a house and lot community of well-designed, Mediterranean- inspired homes and family-friendly amenities set to raise its residents’ lifestyle, such as clubhouse, swimming pool and play parks, confined in a high perimeter fence and guarded entrance gate. Mr. Sumon definitely fell in love with Camella San Jose City’s unique mix of facilities, and an enviable location near business center, malls, schools, churches and significant thoroughfares. So, he is planning to acquire properties from Camella San Jose City to add to his real estate portfolio.
To know more about Camella San Jose City, check the links below:
Bangladesh – Agricultural Advances to Spur Economic Growth
October 10, 2017 5:53 am
The rural economy of Bangladesh, specifically the country’s agricultural sector, has been a very powerful driver for the reduction of poverty in the nation since 2000. In fact, agriculture has been accountable for 90% of poverty reduction between the years 2005 and 2010.
Over 70% of the population of Bangladesh, and 77% of its workforce is living in the rural areas. Almost half of all the workers in the country, and 2/3 in the rural areas are being directly employed in the agricultural sector, and around 87% of the rural households depend on agriculture for at least a portion of their overall income.
The country of Bangladesh has been successful in making such an excellent progress for the past four decades when it comes to attaining food security in spite of the usual natural disasters that strike the place, as well as the notable growth in population. For instance, the production of food grain has tripled between the years 1972 and 2014, growing from only 9.8 to as much as 34.4 million tons.
Being among the fastest productivity growth rates in the world since the year 1995, with the average of 2.7% per year trailing right behind China, the agricultural sector of Bangladesh was able to benefit a lot from the consistent and sound policy framework that is supported by the substantial public investments in human capital, rural infrastructure, and technology.
However, Bangladesh also happens to be one of the most vulnerable countries to the threats of climate change that poses long-term threats to the agricultural sector of the country, especially in the areas that are affected by saline intrusion, flooding, and drought.
More inclusive and faster rural growth with job creations will need greater diversification in the industry of agriculture with more robust development of non-farm enterprise in rural. A production shift, from rice to crops that are high value, will reduce malnutrition significantly, make better and more non-farm and on-farm jobs for the youth and women, and trigger rapid growth in terms of incomes.
Fisheries and livestock also provide a huge potential to reduce malnutrition as well as increasing jobs and incomes in a land constrained economy, yet struggle due to inadequate government support. Expansion and investment in rural non-farm enterprises is a priority for the country of Bangladesh. RFNEs can help some households become more resilient to the climate shocks through livelihood diversification and income. They can also be a powerful source of jobs, particularly for women and young people through more competitive and efficient value chains.
Solutions – Livelihood Diversification, Support, and Stronger Resilience
The agricultural needs of Bangladesh were addressed by World Bank through IAPP or Integrated Agriculture Productivity Project, which is made to enhance agriculture production’s resilience, especially in southern and northern affected by drought, flash floods, and saline intrusion due to tidal surges. The IAPP supports mitigation and adaptation programs as well. This introduces heat-tolerant, saline-tolerant, and drought-tolerant crops, diversification out of the production of rice, and enhanced soil health management.
Other solutions include MFSFP or Modern Food Storage Facilities Project, NJLIP or Nuton Jibon Livelihood Improvement Project, and NATP-II or National Agriculture Technology Program.