Tag Archives: business consultants for women

5 Hot Industries to Start a Business in 2012

18 Dec
English: A business centre in Plovdiv

 

 

 

 

 

 

 

 

EMPLOYMENT SERVICES
Today’s business environment is hyper-competitive and constantly in flux. To increase response time, companies have turned to temporary employees, in an effort to stay productive while managing overhead. This trend is projected to continue through 2012, pushing up the employment rate in this sector by 54%. Interestingly, employment services will be a major player in the home healthcare industry, the sixth best industry to start and grow a business, according to our survey. Hospitals and other medical facilities will rely heavily on temporary workers to meet the needs of the aging baby boomers. All told, between now and 2012, the sector should see a healthy output rate of 5.1% each year.

CONSULTING
As the economy expands and the nature of business becomes more complex, the demand for consultants increases, which helps explain the huge 55% job growth expectation for this industry, as well as a healthy 4.1% per year rate of output through 2012.Business consultants are projected to do well, based on the increasing number of businesses that will need help drafting business plans, budgets, and international strategies. Businesses also will continue to need consultants specializing in government compliance to help navigate the federal government’s sea of regulations.

HOME HEALTHCARE
While employment in the health service industry is projected to grow 28% by 2012, employment in the specialized home health care industry is expected to be nearly twice that, or 54.5%. Each year, over 7.6 million people are provided with home health care services. There are two reasons for this growth: demographics and medical advancements. In demographic terms, the number of people in older age groups is growing faster than the total population because of the post-war baby boom followed by a drop in the birthrate of American woman. Secondly, advancements in medical technologies have extended the lives of the very ill and the very old. The combination of these two factors means that the need for home healthcare and nursing and residential care will grow.

CHILD CARE
When women started pouring into the workforce 30 years ago, a new industry was created: childcare. The child day care service industry has become one of the fastest-growing businesses in the U.S. It takes in more than $11 billion annually, and it’s projected to get bigger, thanks to an expected increase in the number of woman between the ages of 15 and 44 entering the workforce. With the 40-hour work creeping upwards, parents will need more childcare services, particularly later into the evening and on weekends. For these reasons, the number of persons working in childcare is expected to grow 43% by 2012.

ENTERTAINMENT
The baby boomers are going to be the richest retirees in our nation’s history. So what are they going to do with their cash? Spend it, of course. With plenty of time and a penchant for enjoying life, the baby boomers are expected to drive the arts and entertainment sector, which is projected to increase in employment by 31.3% over the next decade.The arts, entertainment and recreation sector, which includes anything from golf courses to casinos, will also benefit from a younger clientele. Over the last decade, the saving rate among Americans has fallen, partly because of an increase in the cost of living, but also because of increase spending on discretionary items. This trend, coupled with the demand from baby boomers, provides entrepreneurs with many business opportunities.

For more information visit Inc.com





9 Crowdfunding Websites for Entrepreneurs and Artists

16 Aug

Here are 9 alternative sources of funding for entrepreneurs and artists who are trying to raise capital for their startup or project.

MicroVentures

Also described as peer-to-peer lending, MicroVentures works with investors as well as with those who need money to get a certain project off the ground. According to their website, MicroVentures works with small companies and businesses in variety of areas:
Biotechnology
Business Products and Services
Computers and Peripherals
Consumer Products and Services
Education

Environment
Electronics
Financial Services
Healthcare Services
Internet Technology
IT Services
Media and Entertainment
Medical Devices and Equipment
Other
Retail/Distribution
Semiconductors
Software
Telecommunications
These companies pay $100 to MicroVentures and then send their business plan to the site for approval. Once approved, this idea will be posted on the website for serious investors to consider.

Kickstarter

Kickstarter is a crowdfunding site that is getting a lot of attention these days. With creative people posting new projects that need funding every day, this site is a place where the bohemian idea can turn into a viable possibility. The process is simple and a person can setup their Kickstarter project in just a few hours. A person posts their project details and creates a funding goal. During a certain period of time, investors and individuals are able to contribute so that the project meets or exceeds that goal. The project will only get the funding if the goal is met.
When the project creator reaches their goal, Kickstarter takes 5% of the monies for their service.

Quirky

If you’re a designer who needs to have financial support, Quirky is a crowdfunding site that supports your creative and inventive needs. The most valuable part of Quirky is the feedback you can receive for your project idea. For a $10 fee, you can post your idea and then see what others think about it. This allows you to create a product or service that is going to meet your market needs, increasing your chances of success. Once you have received feedback, then Quirky will decide whether or not they want to make the product. If they do, then you get paid. With the community vibe, Quirky is more of a progressive site than a straightforward investment site.

RocketHub

At RocketHub, you will find there are two audiences this crowdfunding site helps: Fuelers and Creatives. Fuelers are the ones who invest in the projects that the Creatives post. Unlike Kickstarter, there is more interaction on the RocketHub site, with plenty of resources for those who want to refine their idea before or after they post it on the site. Users can earn rewards or badges on the site in order to promote each other.
On RocketHub, there is a flat rate of 8% for Creatives who receive investments from Fuelers.

Pozible

When you look at Pozible, you will notice this is another crowdfunding site that offers many of the same tools as other sites already listed. What users will want to keep in mind is that local projects that are not based in Australia may not be as well received on this Australian website. Like other sites, companies and individuals will post their projects on the site and then investors will decide whether to invest in the projects or not.

Fees for using Pozible include 2.4% for PayPal transactions, 5% for invitees, and 7.5% for everyday users.

IndieGogo

With IndieGogo, you’ll find a creative crowdfunding site that’s interested in everything from performing arts to gaming ideas. Since one of the partnerships with IndieGogo is MTV, this is a valuable resource for those who want to break into the music and entertainment industry, but need the funding to get started with their unique idea. Like Kickstarter and others, you will need to meet your funding request before you can receive the funds. What sets IndieGogo apart is its use of pre-sales and rewards, which can create buzz for a project, even before it is funded and ready for the public eye.

CoFundos

If you’re interested in creating an open source software project, then CoFundos is the right crowdfunding site for you. Here, developers can post their open source software ideas, get feedback, and then request funds to continue to develop the project. You can post an idea and developers can agree to make your idea into a real program. While funding is not the only source of assistance on this site, donations are expected from those who decide to bid on a project idea.

Fans Next Door

Fans Next Door is a crowdfunding site that accepts all types of creative projects:
Visual arts
Performances
Fashion
Video games
Design
Music
Crafts

Here, posters will post their ideas and then investors will come along and help fund the idea. Since there is a reward system in place, investors are compelled to invest more as they will get more for their investment when they do. And the biggest plus of this European (beta) site is that there are no additional fees outside of the PayPal processing fees.

Crowdfunding is a new way to make sure that smaller companies and artists get the funding they need. By spreading out the investors, funding isn’t as difficult to achieve, but success is.

ProFounder

Profounder operates on the basis that inside everyone’s social circle both online and offline – there are people who are willing to support your dream. Each of those people potentially becomes an investor in your company, and equity is split amongst them. Profounder gives you the tools to raise the capital that you need, and the tools to manage all of the associated book-keeping, legals and compliance fillings. Right now, the site is still very much in alpha status, with registrations due to open in the Autumn. Still you can sign up for status as an ‘alpha entreupreneur’ if you want to start earlier than that, and are serious about using the system.

6 Capital Funding Sources for Minority Businesses

19 Jun
pepto pink office

Image by coco+kelley via Flickr

From our friends at  Inc.com.
Here are six  funding sources worth investigating.

1. Individual Development Accounts (IDAs)

These are grants with strings attached. The way it works is that IDAs are savings accounts that match the deposits of individuals with modest financial means. For every dollar saved in an IDA, savers receive a corresponding match. Savers agree to complete financial education classes and use their savings for an asset-building purpose such as to capitalize a business. There is no limitation on how long you can be in business but there income requirements which vary by county. Typically revenues for business owners fall under $50,000. In addition to earning matching dollars, savers learn about budgeting and receive additional training before purchasing an asset. For example, programs in Oregon let participants save $3,000 and the agency can match them with $9,000, allowing them to use a combined total of $12,000 towards building their business and without having to repay the funds. For more info, review the IDA directory.

2. Capital Assistance

The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) recently announced $7.8 million in funding for 27 MBDA Business Centers (MBCs). These centers help minority firms with access to markets, contracts, capital and other strategic business consulting services. MBCs interface directly with minority business owners and managers at the local level. Whether it’s securing working capital from a lender, applying for an SBA loan, or responding to a grant proposal, MBCs help business owners prepare a funding package. Last year, MBCs helped their clients gain access to more than $800 million in financial packages, including working capital, equity investments, and bonding.

 
3. Forgivable Loans

This type of a loan is made with the understanding that if the borrower meets certain requirements, repayment of the loan will not be required. A forgivable loan is actually a grant, says Ough, “because if you do everything right you don’t have to pay the money back.” A stipulation may be that you are required to hire and train employees, Ough explains. She cites for example a particular forgivable loan program that allowed recipients to hire up to five employees. “For every employee you hired you were given $5,000 for each. So, you had up to $25,000 you could use for anything related to supporting the growth of your business.” As a growing business, you are going to be hiring employees anyway. This program gives you an incentive to do so, adds Ough. The Regional Investment Board manages lottery funds in Oregon which are used for economic development purposes. These monies are available to entities in the form of grants or loans to support projects that will create jobs in the region. Just as well, you may be able to take advantage of other state loans programs and loan guarantees.

4. Micro Loans

Poor credit history is a barrier for many entrepreneurs seeking traditional financing. “If you have not positioned your personal credit such that a bank will find you to be a strong enough credit risk, they won’t lend to you,” says Jennifer Spaziano, vice president of business development at ACCION USA, a microfinance institution that lends to 48 states across the U.S., providing loans to upstarts, especially women and minority businesses. ACCION New York is one of hundreds of regional and national nonprofit groups that make micro loans from as little as $500 up to $35,000. Many of these groups are funded by The U.S. Small Business Administration. Cities like San Francisco and New York City have expanded or introduced their own microfinance programs. Each organization has its own lending requirements. ACCION USA has provided over $119 million in over 19,000 micro loans since inception in 1991. To learn more, visit the Association for Enterprise Opportunity’s website.

5. SBIR Grants

There is a lot of talk and excitement around technology, particularly coming from the Obama Administration. Review the possibility of obtaining a Small Business Innovation Research (SBIR) grant or Small Business Technology Transfer Program (STTR) funding. You might not be in a position to go after venture capital, yet you may need initial funding for early stage research and development, says Ough. For instance, “we are working with a client who has developed a new process for providing a better educational tool for kids with autism. We pulled out an application to apply for the grant through the National Institute for Health.” The SBIR program was established by Congress in 1982 as a means of stimulating innovation with more than $ 2.2 billion dollars set aside annually with first phase funding of up to $100,000. Phase two is a $750,000 award. The SBIR/STTR program reaches out to socially and economically disadvantaged firms. The participation rate of minority- and women-owned firms in SBIR/STTR just within the Department of Defense is roughly 21 percent. Two sites to check out are Zny and SBIR.gov.

6. New Market Tax Credit

For companies looking for commercial ownership or to own their own facility, Ough suggests exploring new market tax credits. This federal program is administered by the U.S. Department of Treasury Community Development Financial Institutions Fund. Designed to provide investments to projects and businesses in low-income communities, the program has expanded to include investments in minority business. NMTC permits taxpaying investors to receive a credit against their federal income tax liability for making qualified equity investments in designated Community Development Entities (CDEs). The credit is spread over seven years, amounting to roughly 39 percent of the investment made in a qualified entity. Many states have passed a tax credit for minority business. The provisions and limitations of these credits vary from state to state. Many of them resemble the New Market Tax credit and give tax credits against state income tax to investments that are used to support minority building projects or encourage minority business ownership, which includes women-owned businesses. However, these credits are extremely tough to get and are highly competitive.

In addition, contact your National Chamber of Commerce. There are a number of national chambers of commerce specific to women and minority sectors that offer access to funding sources, including the National Women’s Chamber of Commerce, the Hispanic Chamber of Commerce, the National Black Chamber of Commerce and the Native American Chamber of Commerce.

“To find all the funding sources available in your community, you need to become a great connector so that you get familiar with all the programs available for starting and growing your business,” says Ough. “If that’s not possible, then the next best thing is to find those connectors that can guide you.” Connectors are the top ten businesses, organizations or key players in your community that you get referred to when you are trying to find resources and funding for your specific business.

6 Hot Industries for 2011

27 Feb
DIY Business Card

Image by The Bottomless Paddling Pool via Flickr

6 Top Performing Industries for 2011 according to our friends at Inc.com

The Best Bets

Looking to launch a business in 2011 but not sure where the best opportunities for success lie? IBISWorld has targeted six industries heavily concentrated with small- and medium-sized businesses that are poised to grow in the year to come. The market researcher judged sectors based on a set of criteria including revenue growth, employment growth, current profits, and barriers to entry. Some, like e-commerce and advertising, may be old news at this point. While others, such as real estate appraisal, may surprise you.

 
Debt Collection Agencies

It’s nearly impossible to owe money these days without getting a barrage of phone calls on behalf of your creditors – thanks in large part to the rise of third-party collection agencies. The debt hounds will have plenty to chew on next year, as recoveries in employment and the housing market should free up cash to pay back outstanding loans, says IBISWorld. All they have to do is go get it. While the average agency now generates a profit margin of about 5.9 percent, the number will grow slightly in 2011 and eventually climb to 10 percent by 2015. This is due to some companies not wanting to chase down debtors themselves, instead preferring to give agencies a larger bounty.

2011 Revenue Growth: 4.1 percent
2011 Employment Growth: 0.5 percent
Barriers to Entry: Low

E-commerce and Online Auctions

If record sales during the holidays are any indication, online retail will continue booming and achieve double-digit revenue growth in 2011. Due to the increasing ease in setting up a website, small vendors are further penetrating the market. E-tailers have also upped the savvy factor with widespread discounts, targeted advertising, and elegant, efficient site design—all created to lure customers out of brick-and-mortar stores and onto the Web. Popular product categories include clothing, footwear, jewelry, electronics, sporting goods, toys, and furniture, often sold through online commerce communities such as eBay, Newegg, and Etsy.

2011 Revenue Growth: 11.4 percent
2011 Employment Growth: 6.1 percent
Barriers to Entry: Low

Environmental Consulting

Thanks to the confusion over increasingly strict environmental rules, these consultants should be in high demand. Companies in fields like construction and waste management turn to consultants to navigate the various environmental waters, while others simply hire them to enhance their image. As economic conditions improve, consulting firms will be needed to audit new buildings and the underlying land for environmental safety. And with sustainable homebuilding on the rise, a growing number of homeowners will enlist environmental services as well.

2011 Revenue Growth: 7.5 percent
2011 Employment Growth: 7.2 percent
Barriers to Entry: Low

Real Estate Appraisal

Recovery in the battered real estate market is likely to be slow going, but this area should be among the first to improve. Existing home sales are expected to pick up, giving appraisers plenty of work. Additionally, as the recession wanes and low interest rates persist, businesses looking to expand will boost the commercial markets as well. And don’t let the relatively weak employment forecast fool you: most firms in the industry are single-owner operated or small independents that don’t need to take on employees to grow.

2011 Revenue Growth: 8.8 percent
2011 Employment Growth: 3.8 percent
Barriers to Entry: Low

Advertising Agencies

Agencies that create online, targeted, and integrated ad campaigns will compete for a healthy allotment of ad dollars in 2011. IBISWorld projects improvements in consumer sentiment, and corporate profits in the coming year to drive an increase in media expenditures. Digital media in particular will be the recipient of an increasing amount of ad dollars, with some experts expecting spending in the space to double in the next five years. Companies able to reach the nascent mobile market and targeted niches will be the big winners.

2011 Revenue Growth: 3.5 percent
2011 Employment Growth: 3.9 percent
Barriers to Entry: Medium

Job Training and Career Consulting

With only mild job growth expected next year, workers competing for limited openings will need to differentiate themselves with improved skills or develop new ones if they’re forced to switch careers. The job training industry will also get a big boost from government funding for programs focused on putting the unemployed to work and creating new jobs. Much emphasis has been placed in recent years on gaining new skills, which will both help people get jobs and improve business performance.

2011 Revenue Growth: 3.4 percent
2011 Employment Growth: 2.1 percent
Barriers to Entry: Medium

For more information visit www.inc.com

Hey Rhode Island Entrepreneurs–there’s 150k in Prizes Up for Grabs!

12 Dec
Great seal of the state of Rhode Island

Image via Wikipedia

The Rhode Island Business Plan Competition is the leading community-supported business plan competition in the Northeast, supported by private businesses, colleges and universities, public entities, and nonprofit organizations.

Established in 2000, the Competition aims to further develop the entrepreneurial spirit in Rhode Island and help create growth companies that will increase local employment.

The Competition encourages plans for new businesses, as well as from early stage companies. An early stage, or seed stage, company typically is at the inventor stage where there is an idea, a concept, or even a product, but little or no income has been generated yet.

Winners and finalists will share more than $150,000 in prizes.

Applications to the Rhode Island Business Plan Competition must be submitted online and may be submitted at any time, but no later than by 5 p.m. Eastern time on April 4, 2011.

For more information please visit http://www.ri-bizplan.com

Cheap Hype for Your Business!!

1 Dec

Hello Ladies!

Looking for low cost ways to advertise your business?

Let us introduce you to one of our best kept secrets www.uphype.com

UpHype is a micro-payment marketplace where savvy people with unique talents and resources advertise to take your message and promote it in unique ways. Simply priced at $8, $16, or $24.

Anyone can create a hype or small service ad of what they’re willing to do to “hype” your message. Buyers can purchase hypes and are required to pay for the hype in advance. After the work is completed and accepted by the buyer, UpHype gives the task performer a whopping majority of the fee.

Hypes range from promoting your message to a user’s 300,000 Twitter followers, sending 60,000 traffic hits to your website, creating a video podcast, writing a press release or article for your blog and anything in between.

Hypes are divided into categories, including Social Marketing, Graphics, Writing, Eblasts, Flyers, SEO work, Website Back-links and whole lot more! To ensure that you get a good task performer, UpHype also post buyer feedback on people who perform tasks. Task performers will be given a positive feedback score, which can be seen by users who are considering hiring them for their hypes.

To learn more about Uphype visit their website at www.uphype.com

Top Networking Sites for Entrepreneurs!

28 Jul

Hi Ladies!

Are you getting the results you want for your business on Twitter and Facebook? Although they are both great websites for advertising your business and for networking, you may want to explore other options.

Below is a list of networking sites we feel are best suited to entrepreneurs. Networking is an essential part of any business because it allows you to build new business relationships and generate business opportunities at the same time. Many entrepreneurs agree that business networking is a more cost effective method of generating new business than advertising or public relations efforts. This is because business networking is a low-cost activity that involves more personal commitment than company money.

    LinkedIn.com
    The purpose of the site is to allow registered users to maintain a list of contact details of people they know and trust in business. The people in the list are called Connections. Users can invite anyone (whether a site user or not) to become a connection.

    Meetup.com

    Helps groups of people with shared interests plan meetings and form offline clubs in local communities around the world.

    Ecademy.com

    A business network for creating contacts and sharing knowledge.

    Entrepreneur Connect

    A community by Entrepreneur.com where professionals can network, communicate, and collaborate with others.

    Fast Pitch.com

    A business network where professionals can market their business and make connections.

    xing.com

    The platform offers personal profiles, groups, discussion forums, event coordination, and other common social community features. Basic membership is free.

    biznik.com

    Biznik is an award-winning business networking community for anyone growing a business.

    AmericanExpressOpenForum

    An online community to help business owners grow their businesses.

    Networking for Professionals

    A business network that combines online business networking and real-life events.

    StartupNation

    A community focused on the exchange of ideas between entrepreneurs and aspiring business owners.

    Young Entrepreneur

    A forum-based site for entrepreneurs and small business owners who are passionate about promoting business for themselves and others.

%d bloggers like this: