Caufield & James, L.L.P Caufield & James, L.L.P

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Starting a business with little money

Money can be a significant factor for California entrepreneurs who want to start a business. They may believe that they don't have the money to spare or are worried about the risks of spending money to start a company. However, it is important to understand that there are many tasks that a business owner can do him or herself. For instance, it may not be necessary to hire a marketing expert when there are ways to market without help.

It is also possible to create a website for free or at little cost. From there, a business owner may be able to find customers or otherwise build an audience for free through social media. Sites like Craigslist or other online classified sites are generally free to use and can be leveraged to advertise products or upcoming business events.

Those who would rather spend time than money may have several options when it comes to finding working capital. Crowdsourcing may be worth looking into, and an individual may have friends or family members who believe in his or her idea. Assuming that a business owner refrains from taking a salary, the initial revenue that the company brings in should be enough to fund operations in the short term without outside help.

Taking an ownership interest in a business may expose an individual to different forms of liability. It may also require that person to register his or her company with the state and obtain a tax identification number. An attorney may be able to help an individual with these and other tasks related to forming a business. Legal counsel may also be able to help with trademark and patent searches in an effort to avoid the possibility of infringing on someone else's intellectual property.

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