It’s a difficult time for small business owners. As the coronavirus crisis has disrupted business operations, more banks are tightening their standards for lending, making it harder for small businesses to access crucial capital. While the Coronavirus Aid, Relief, and Economic Security (CARES) Act established several temporary programs designed to provide relief to businesses during […]
Crowdfunding
Crowdfunding and Taxes: What You Need to Know
In recent years, raising money online through third-party backers, or crowdfunding, has grown in popularity. Originally utilized mostly by musicians, filmmakers and for other creative endeavors, it has now become a more widespread method of raising money for a trip, medical expense, or startup, and is often a quicker and easier alternative than conventional fundraising. […]
Tax Consequences of Crowdfunding
Crowdfunding websites such as Kickstarter, GoFundMe, Indiegogo, and Lending Club have become increasingly popular for both individual fundraising and small business owners looking for start-up capital or funding for creative ventures. The upside is that it’s often possible to raise the cash you need but the downside is that the IRS considers that money taxable […]
Crowdsourcing for Small Business: Genius or Madness?
Crowdsourcing has been both a success and a failure for my business. I love my new logo design but am disappointed that I failed to raise startup funds. Benefit from my experience and get valuable crowdsourcing tips in this article. Throughout this process, I’ve learned valuable lessons on how to increase the likelihood of positive […]
Revealed: Women Entrepreneurs’ Crowdfunding Advantage
Note to women entrepreneurs: Make society’s gender stereotypes work in your favor! Personal experience and years of observation have taught me that women have a more difficult time winning investor backing for their startups than men. In fact, only about 1.3 percent of startup funding goes to women-owned projects. Since the most in the venture capital […]
How Can a Small Business Benefit from Crowdfunding?
Crowdfunding has been the latest craze in helping people fulfill their dreams and turn them into reality. I am sure many of you have heard of Oculus Rift, a virtual reality headset that allowed for the most immersive video game experience ever. It was brought into the market through the help of generous people via […]
Does Crowdfunding Affect Your Taxes?
Over the past few years, crowdfunding – or crowdsourcing – has been a simple and effective alternative to loans, venture capital and conventional fundraising. Through sites such as Kickstarter, IndieGoGo, and GoFundMe, raising money for creative projects, start-up businesses, or personal causes can be achieved in just a couple of clicks. But since billions of […]
When and From Where Should I Seek Business Funding?
There are many reasons why a business may require an injection of funds. Before you seek finance it is crucial that you establish whether you truly need external finance, how much you need and the most suitable source of funding for your needs. When to seek funding Only seek outside funding when: You have a […]
4 Things Entrepreneurs Need to Know Before Financing Their First Startup
For entrepreneurs starting a small business for the first time, it’s easy to feel a bit overwhelmed by all of the funding options available. Do you go with the first offer made to you or shop around? Is it better to go it alone with your personal savings and bootstrap instead? And what about crowdfunding […]
10 Tried-and-True Strategies for Funding New Ventures
One of the most frequent questions I get as a mentor to entrepreneurs is “How do I find the money to start my business?” I always answer that there isn’t any magic, and contrary to the popular myth, nobody is waiting in the wings to throw money at you, just because you have a new […]
