Many potential entrepreneurs may have a great idea and the dream of a start-up business but not know how to finance it. Starting a business can sometimes be unquestionably difficult. There are many considerations and potential challenges associated with a business start-up. Nearly eighty percent of the estimated 27.5 million small businesses in the U.S. obtain their financing through bank loans, lines of credit and credit cards. In today's financial climate it can sometimes be a challenge to finance a start-up company. Potential sources of funding include banks - commercial, community and credit union, government-assistance loans or relatively new crowdfunding.
A downtown Baton Rouge building will soon be re-developed as a mixed-use building that will include apartments and commercial space. It was announced that the conversion will begin soon. A commercial real estate trust, which holds a long-term lease on the state-owned building, will be conducting the conversion. The trust is expecting to spend $6 million on re-developing the building that will house 28 one- and two-bedroom residential units. Below the apartments will be 5,600 square feet of commercial space. The building is expected to reopen in the fall of 2014.
Many questions, including business formation, face the fledging entrepreneur beginning a new business. An experienced business lawyer can provide critical guidance when one decides to act on the dream of starting a business. With ninety percent of all start-up companies failing in five years, it is important that a potential start-up have a well-thought out plan.
Running a business is often a complex endeavor. Knowing when and how to pursue the sale of business can be even more complicated. Business owners large and small obviously want to get the best return on their investment when selling their business, especially when they have worked hard to build it from ground-level, and it can be difficult knowing exactly how to do this. A smart plan and contract for the sale can produce significant financial reward for a savvy business owner, however.