By Colon Bolden

The number one reason that businesses fail is under capitalization. The way you build your business capital is very important but normally all small businesses require some capital to get started. Depending on the business, you may only need the capital for a short period of time to develop an inventory or pay salaries. Other businesses may require facilities and equipment purchases in addition to some operating capital to cover business expenses until sales and revenues can support the business. Here are 7 sources of capital you can use to get your business on the right track:

– Personal Capital. This is the source of capital that entrepreneurs turn to first because it’s the most easy to use. It’s the cash on hand, bank accounts, stock, and other sources of personal wealth that you can tap into for your business.

– Your Home. A home equity line of credit will allow you to transfer the equity in your home to equity in your business. The difference between the value of your home and what you owe could be enough to cover your business start up expenses for a year.

– Bank CD. Do you have a CD in the bank that isn’t matured yet? Instead of taking the penalty for early cash out, consider borrowing the money back, securing it with the CD.

– Retirement Accounts. You can borrow money from yourself because it’s easy money to tap into, and some of the interest that you pay goes into your retirement account.

– Friends and Family. Try to avoid this source of capital because of the potential relationship troubles if the business fails. Your decision to borrow from friends and family is a personal one, but it is often the easiest way to obtain investment capital.

– Commercial Banks. When funding your business, commercial banks provide the greatest flexibility for types of loans. They will want to see your business plan, and usually six months to a year of track record.

– Small Business Administration – Also known as SBA, is an independent government agency formed in 1953 to help small businesses. They provides loan guarantees, participates with bank loans, and makes a limited number of direct loans.

I think the biggest problem that business owners have is that they are perfectionists. They have started a business doing something that they are good at but it is difficult to get staff that can duplicate what you do. Therefore many business owners tire out and after a period of time they are burned out because they try to do everything themselves.

There are so many sources of capital out there to get your business started but I hope you get the point with the few that is mentioned. As a business owner and you’re borrowing money at the start of your business, you must be careful of what you’re trying to accomplish because if its not thought out properly this can cause a strain on cash flows and income in order to make debt payments.

About the Author: As the Author of this article, Colon Bolden is a dedicated business coach. His passion is working with people around the world helping them to use a

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Being able to go anywhere anytime is one of the benefits everyone wants to enjoy. TheAviation Expert Servicessuggest you get a private jet when you have a hectic travelling schedule. It benefits in multiple ways and brings luxury in a package. Buying a private plane is not a big deal at all. It involves some of the tricks and considerations. Here we are discussing five of the necessary things you need to know before signing a deal for your private aircraft.

Check the business trips frequency

The distances you will be, covering with your jet is something you should assess before buying a private jet. If most of your trips are within the Euro zone. So, there is no need to invest in the private plane in the range of 6000+km. If more than, 10% of your flights are longer than 6000+km range; your broker will more than likely try to find a model with 9,000 km to 12,000 km range at the least investment. If more than, 10% of your flights are longer than 6000+km range, or your trips are regularly outside the Euro zone, so it must be essential to get a private jet.

Typical passengers on board

You should take into consideration the type of passenger that will join you on the jet. What will be the average size of your party? You must consider these essential things before striking a deal with a private jet aircraft broker. Size is the most important thing in aircraft, which should be in consideration as well. Some cabin feels minuscule, which is depending on your size, so you should consider the size of the cabin as well you, should accommodate your passenger of all height and sizes.

A new or used jet to buy

It is the key question that many people thought who are purchasing a private aircraft for the first time. Mostly, people agree on buying a new jet aircraft, which is better than old models because of their comfort speed, fuel consumption’s, and safety. On the other hand, old planes can cost much more for its maintenance.

New aircraft have much more features that make them more versatile. On the other hand, the old jet aircraft can be temping a variety of reasons. It may cause many problems. If you can get any recent model aircraft in the used category with lesser maintenance cost and good performance. Then it is better to strike it instead of a new one.

Benefits that balance the costs

Buying a private jet is not like getting you a smart device. A complete aircraft involves many other things on board such as plane crew, maintenance crew, airport spaces and much more. You will need many people and facilities to manage it. All these things seem to be tricky and expensive. If you look at the other side of the picture, such as the benefits coming out of this deal, then you may feel good. It is necessary to think about the benefits and savings you will be able to make as a whole against a specific cost for one time.

Taking trial flight

Never lock the deal with your private aircraft before having a trial flight. You should see how it looks when you are at a height of about 6,000 ft. Get your crew on board with the broker to ensure it is working good and safe for long-term flights. It helps you to have the overall inspection of the plane. Eventually, you will be able to end up with a better deal.

Bottom line

Purchasing a private aircraft involves several concerns and things to review. It is never too easy and quick to make a decision especially when you are doing it for the first time. Considering some of the necessary and basic things will help you to make a logical and profitable deal out of it. Remember never buy a private aircraft without any need. Just because you want to have, one cannot be proper reasoning of investing huge money into an aircraft. Justifying the need to buy the jet it necessary as it makes your investment valid and satisfactory at the same time.