Business loans are not always easy loans to get, and minorities may find this even more difficult. Many communities and government agencies have created programs to help minorities obtain a small business loan when they need it, but there is still a lengthy process to go through before the small business loan for the minority can be approved. Minority business entrepreneurs must submit a series of loan application materials, get a background check, credit check, and also submit a reliable and cohesive business plan.

The most important thing to get a good rate is to have a strong credit history. Without a high credit score, most lenders are required to only offer specific programs. Some banks and financial institutions may extend higher rates for low credit scores, poor credit history, or bad credit overall. If this is the case, it will be harder for minorities to obtain a business loan with a good rate.

The Minority Business Development Agency helps minorities by providing training and information. This can include loan and grant applications, minority businesses in the area that can provide referrals and even banks that work exclusively with minority businesses to create a custom loan program.

A mentoring service by the National Minority Council helps people receive special contracts through local lenders. Many local lenders work from referrals, and have access to funds where they can offer a lower rate. It’s important for minority business entrepreneurs to network as much as possible. Networking helps people learn about other businesses, and there may be outside investors who are available to extend funding at lower rates than even banks or commercial institutions.

The legal work behind many minority businesses is what can hold up the loan application process. The more well-prepared and ready the minority business owner can be with all documents, financial information, and records, the more likely it is that banks and other lending institutions will want to work with them. Banks can offer various programs that are tailored for certain business needs.

Referrals from key community members can increase the chances of obtaining a minority business loan, and possibly getting a good rate. Another way to reduce a rate is to break up the loan into two separate loans, and use different assets or collateral for each one. Some banks can help with arranging this.

Financial assistance may also be offered by the Small Business Administration. Corporations can help minority business owners. Corporations can assist with the loan, or extend some corporate loan package benefits that are competitive or lower than standard market rates. These corporations may work as sponsors for the loan, and can help the business promote itself within in the community as well.

Minority businesses can get good rates from a variety of resources. Community assistance programs can help pull together the financial plans and business planning specifications, while banks can offer strong rates when there is a strong credit history. Making sure credit scores are accurate can help business owners get a good rate right away. Still, there are plenty of options for assistance from other resources as well.

Louise Michaels
http://www.articlesbase.com/finance-articles/business-loans-for-minorities-get-a-good-rate-101286.html

So, business managers up and down the country are preparing to bid farewell to 2008 and usher in a whole new year. Over the last 12 months, we’ve seen changes to flexible working, dispute resolution and even how companies that cause a person’s death are dealt with. What’s in store for 2009? Well, here are a few changes to business law that we will definitely see occurring, so prepare to update all your employment contracts and business documents as necessary!

Redundancy and Unfair Dismissal Becomes More Expensive

At a time when there may be many thousands of redundancies, the cap for maximum redundancy and unfair dismissal payments have been increased. When it comes to calculating the weekly wage for statutory redundancy pay, the maximum has increased from £330 to £350. The maximum statutory redundancy payment or basic award is now £10,500, up from £9,900, and the maximum compensatory award for unfair dismissal has gone from £63,000 to £66,200.

Right to Time Off for Public Duties Expanded

In April 2009, the rights to time off for public duties will be extended to include membership of a wider range of roles including youth offender panels, court boards and probation boards. It’s worth noting that although they will be given the time off, there is no obligation to pay them for this time.

Right to Request Flexible Working Expanded

Currently, the right to request flexible working hours in employment contracts is only open to parents with children under the age of six or who are disabled. In April next year, this right will be extended to parents of children all the way up to 16, opening up the option for some 4.5 million more parents. Under the legislation, employers won’t be obliged to grant the request but they will have to have legitimate reasons to reject it.

Trainee Doctors get Reduced Maximum Working Hours

In August, the notoriously overworked trainee doctors will have their working hours reduced in the final stage of the phase-in to a 48 hour week. In 2004, the maximum was reduced to 58 hours, and in 2007 it was reduced to 56.

Tips no Longer Count Towards Minimum Wage

Under current rules, employers can process service charges and gratuities paid through the payroll as part of their obligation towards minimum wage. From 2009 this will no longer be allowed.

Minimum Holiday Time Increased to 28 Days

In 2007, the minimum days paid leave for most UK workers went up to 24 days including bank holidays. In April 2009, the second part of this act is passed and it is raised to 28 days including bank holidays. This will have no effect on those giving bank holidays in addition to the minimum holiday day allocation, but if you are only giving your employees 24 days in total at the moment, be sure to update your business documents and employment contracts to reflect the changes.

Acas Code of Practice for Discipline and Grievance Procedures

April also sees the revised Acas Code of Practice on disciplinary and grievance procedures introduced. This means that where there is a breach in the Code of Practice, a tribunal can change the award granted by 25% up or down.

Centralised Vetting System for Workers Dealing with Children and Venerable Adults

In October, the Safeguarding Vulnerable Groups Act will come into force, creating a centralised vetting system for those banned from working with both vulnerable adults and children. Employers will be able to make checks online using a constantly updated database and, where possible, employers will be informed if an individual in their employ is added. There will be fines of up to £5,000 for employers who either knowingly employ people from the list for these roles, or fail to make relevant checks.

Health and Safety Offences Act

At the very start of 2009, the Health and Safety Offences Act will come into effect. As long as you are doing everything that needs to be done with regards to health and safety already you can safely ignore this one, as it only changes the available punishments. From January 16th, a maximum 2 years imprisonment and/or a maximum £20,000 fine will be available to those who breach Health and Safety regulations. Additionally, while such offences were only available for prosecution in the Magistrates Court, from January they can be tried in the Crown Court. With such hefty punishments soon to be available, it might be a good idea to ensure your business documents pertaining to health and safety are fully in order, just in case!

These aren’t the only laws and regulations changing in the next 12 months, but they are amongst the most important to most business owners. Make sure that you’re aware of the upcoming changes that apply to you and get your business documents and employment contracts in order for when the laws change!

Iain Mackintosh
http://www.articlesbase.com/business-articles/one-step-ahead-uk-business-law-changes-for-2009-745631.html

The hardest part about getting into business is the startup capital that you need. Most businesses require a high initial investment that keeps many starting entrepreneurs from being able to get into business in the first place. But, the truly ingenious business ideas are the ones that allow for low startup costs and high potential income.

Looking at the many different franchise opportunities, you’ll be able to begin to see what I mean. Subway seems to top the list of best franchise opportunity no matter which list is comparing it. That’s because they have a great marketing package with a rather famous speaker who can boast of losing a massive amount of weight. New celebrities are joining the ranks and starting to do Subway commercials as well. That’s why a Subway is bound to be successful.

But, look at the startup capital you are going to need to open a Subway for yourself! The franchise fee itself is $15,000. But, that’s not all! That’s just the surface. Your total investment can be as low as $75,000, but it can be as high as $220,000 to get started. And then there’s the little unknown detail that is hardly advertised. A royalty of 8% is also charged for the right to have a Subway. For some people, it’s not hard to come up with that initial investment money. But for most beginning entrepreneurs, that initial investment money takes them out of the running.

For as low as about $20,000, you can get started in a janitorial business that services office buildings. You’ll only need as low as $8,600 for a franchise fee and then another $11,300 is about as low as you can go for the initial investment for all startup supplies and everything. That’s much less than the $235,000 you would need for a Subway. But, even a janitorial service can cost a great deal to get into if you don’t have that kind of money to start up with.

Why would it be that high to start a janitorial service? You would need your own transportation to bring your services to each office you have contracts with. You would also need some supplies, which might require some major equipment. Buffers and vacuums aren’t cheap when you are talking about industrial strength equipment. Also, the chemicals and everything else you would need. Brooms, mops, mop buckets, paper towels, dusters…etc. You can cut corners on some of the supplies you would need. But, it would still add up in the long run.

An art workshop center is a very low cost proposition. Especially if you would be willing to cut all the corners you can to at least get it up and running. Starting an art workshop in your own home takes most of the overhead away. With as little as a few hundred dollars, you can have all the supplies you need. Your students can be required to bring their own. But if you take tuition before class begins, you can offer your students bonus supplies to get them started and you’ll have the money to cover the expense.

Some franchise opportunities like Subway are sure bets if you have the money to get started and you are dedicated enough to stay from opening to close to grant your own success. Other franchise opportunities allow you to set your own hours and earn a high income potential while minimizing your effort like an art workshop. If you are serious about business, there will be plenty of opportunities come your way. Having a low startup cost versus high income potential will have you in business as soon as tomorrow compared to getting loans, acquiring supplies, acquiring equipment and all of the other hassles.

RivkyShimon
http://www.articlesbase.com/entrepreneurship-articles/low-overhead-business-big-business-low-cost-98767.html

As our economy continues to struggle, more and more people are “kicking the tires” of some home based businesses out there – in search of the best home based businesses. This article will be extremely useful to anyone looking to apply themselves in the network marketing industry or any other work at home business opportunity. Here are some key points to look for when deciding on your business:

The Right Management Team

The management team is the backbone of your business. They are your suppliers and your collection agents all in one. How can you survive in the network marketing industry if your suppliers are not delivering the goods on time or the company has cash flow problems? In order to choose the right company with the right management team, you must do your due diligence on these factors:

• Their track record. Is the network marketing company backed by a solid track record?
• Is the team here to stay? There are some network company owners who build and burn and build again. You don’t want to invested interest in a company that is there today but gone tomorrow!
• The vision. Does the company have a solid vision and are they actively working towards that vision?
• The capacity to expand. Sometimes, when a new startup company is expanding, they might run into cash flow problems when their sales volume increases! They need to build more warehouses, deal with shipment and pay MORE commissions and bank loans when more and more orders are taken. Just because the teams are growing and the sales are coming in doesn’t mean the company is able to cope.

A Product That Is In Demand

This is a no-brainer. No matter how good your company, management team, compensation plan or your upline is, a company will NOT survive if their product does not stand the test of time. This type of company is definitely not one of the best home based businesses.

For example, multivitamin supplements were a growing trend during the 80s. Because of the rising health needs due to pollution and people spending more and more hours in the office, it created a need. But that doesn’t mean that the trend is still growing. There are some companies which came up with supplements that do not require water for mixing or swallowing. It caters to those people who are always on the run.

Today, people are not just developing new products… they are engineering new product lines and creating new demands while diminishing existing ones. The question remains… does the demand for your product justify your efforts for promoting it?

The Right Time

Whether a company is a ground-floor work at home business opportunity or a thirty year old company – you are going to get out of it, whatever you put into it. With that being said, there is no arguing that people who:

1. Join a company early on, and
2. Work their tails off, and
3. The company stays in business,

have an amazing opportunity and have the ability to change their lives, as well as the lives of their great-great grandchildren. Now, that’s not to say that someone joining a thirty year old company couldn’t do the very same thing – they will simply have to work harder and/or smarter.

Front Loading Companies

What is front loading?

Front loading is a bad way to build your business by ‘buying rank’ when you invest in an inordinately large amount of products – especially when you are just starting your business.

A lot of network marketing companies usually collapse due to unethical front loading practices disguised as a ’shortcut’ to entice reps to invest more money.

If you find yourself investing in more stocks than you need for personal consumption and your monthly personal sales, then you might get yourselves into cash flow problems.

WARNING: AVOID FRONT LOADING COMPANIES AT ALL COSTS!

So, where does that leave us? Well, I have a secret to share with you about a company that is turning the network marketing world on its head. I’m talking about revolutionary concepts that NO other company has ever implemented before. Here is a sample of what I’m talking about:

• This company assigns actual paying customers (not leads) to qualified reps, from which commissions are earned.

• This company will acquire new reps (not leads) via infomercial advertising and place them in the downline organizations of qualified reps.

If these “unheard of” benefits sound appealing to you, I have an offer you literally can’t refuse. I will grant access to a FREE e-course that will give you my blueprint to success with this cutting-edge company or any other company. You’d be crazy not to take advantage of the hundreds of hours that I have spent in becoming one of the top earners with this company. Visit the live link down below in the author’s signature area, and sign up for the Weekly Newsletter/e-Course and find out more about the company that turned out to be the answer to the million dollar question: What is the Best Home Based Business?

Brian Murray
http://www.articlesbase.com/business-opportunities-articles/best-home-based-businesses-work-at-home-business-opportunity-681820.html