Sometimes many groups or organizations desire to start a small business at home so as to have an extra part time income. The necessary support can come from personal loans, brokers etc. also, people work on the Internet, starting new businesses online. The answers to their countless doubts and queries are given by the Internet itself and also by many support groups.

The most important criterion for attracting support is to prepare a good business plan and explain it properly to the segments of the marketing industry that may help you in one way or the other. The investors and shareholders should be able to see your commitment to your business and the way you wish to satisfy your goals.

Small business support in the form of capital-

The biggest hindrance to growth is the lack of capital in small businesses, which can be overcome by-

– Asking for loans from banks.

– Trying for the grants sanctioned by the government and other grant bodies.

– Taking your business public and asking local investors and common people to invest in your business.

But for all these, one has to be ready with a proper plan and the necessary strategies. Banks agree with loans only if they are convinced with your methods of repayment and investors invest only if they know you are confident about your own business i.e. how much you have invested from your own purse.

Small business support in the form of solving technical problems-

There are many technical doubts, which the small business entrepreneurs face from time to time. They can use the Internet to solve them or express their doubts in various business magazines. Experts and experienced executives from big industries try to solve them efficiently thus helping these small businesses.

Small business support in form of tax benefits-

The government provides many tax benefit offers to support these small businesses. In this, the government cuts taxes and gives good returns to the small businesses.

There are credit reference agencies and co-partners, who will want to help you in the business. But one needs to satisfy their meager demands of good credit history. Equity websites are present which contains the list of equity shareholders who may be interested in investing in you business.

Small businesses have tremendous potential due to innovative and new ideas, which these enterprises possess. The only need is to help them rise and realize. We have many examples of organizations who grew into huge industries due to the support they got like women’s self help group, Reliance industries etc. the support these businesses get is enough for them to climb the success ladder. Read more here: https://www.entrepreneur.com/article/246400

Standing in front of the crowd at the recent Entrepreneurial Excellence Awards luncheon, I was awed to see so many supporters of the small business community.

This support is exactly what we need to help boost the economy as we continue to watch the Dow Jones Industrial Average fluctuate and read bleak business headlines on a daily basis.

Small businesses and organizations, such as the Northwest Indiana Small Business Development Center, need our support now more than ever. By backing entrepreneurs, we encourage economic activity, creating an increase in production levels and spurring businesses to add jobs. These new employees will spend their earned wages on goods and services that are produced by these firms, further adding to production levels. This cycle continues, prompting additional economic growth. Likewise, any reduction in small business support will decrease overall economic activity and can shrink the overall economy.

But why is it vital to focus on small businesses ideas and not the larger companies? It’s these small companies that continue to adapt and change and grow.

Research by the U.S. Small Business Administration’s Office of Advocacy shows that small businesses create most of the nation’s net new jobs. It also revealed that small businesses are 13 times more innovative, and they bring dynamic ideas and fresh products to the marketplace.

It is this innovative mindset that landed Terry Daniel and Lou Pringle of Exhaust Productions Inc. in the limelight. The entrepreneurs were honored with the 2008 Small Business Person of the Year Award at this year’s luncheon. When manufacturing started to shift to China, the team decided to switch gears by moving into the performance motorcycle industry and Rush Racing products.

By taking the time to recognize companies, such as Exhaust Productions Inc., the Northwest Indiana SBDC is continuing to foster the development of small businesses and spotlight the entrepreneurial spirit. It is our mission to have a positive and measurable impact on the formation and growth of small businesses in the region and state. We have workshops, one-on-one consulting, referrals, training and other essential business tools to help guide small business owners toward success

More info: https://www.forbes.com/sites/groupthink/2016/12/01/43-reasons-you-should-support-small-and-independent-businesses/