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d) Business Funding and Credit

credit

 

Think about what funding you will need for your business.

If possible I recommend beginning conservatively and not borrowing any money if you can. For your business as a doula wait until you make money to purchase items.

The most important items you would need right away would be to pay for training, books, a computer, and a phone.

Make a list of must have items for your business that you can’t begin it without them…

Are you able to afford these items? If not then you must find funding. If you are able to use a credit card that is the fastest way to fund your expenses.

You should always have 1-2 credit sources available to run and manage your business. You never know when an opportunity will arise and you will need to have money available right away.

However be care not to overextend your funding/credit. This means you are not making enough profit to pay down your credit within 6-12 months.

Note: Interest paid on credit cards and loans for your business are usually tax deductible, check with a tax professional.

Check your local bank, credit union, and small business association for loans. Also search the internet under crowd funding and micro loans.

Other funding resources for your business:


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