Some analysts are declaring that the recession has ended, indicating that good times are now upon up. Indeed, after bottoming out this past March, the stock market has reversed course and is up by nearly fifty percent for the year.

Before you launch your business, you'll need to make sure that your finances are in order and that your plan is a solid one.

Whether we’ve truly seen the last of the downturn remains to be seen as ongoing bank failures and a troubled real estate market could force the market down once again. But for many Americans they’re not waiting for everything to shake out, choosing instead to launch a new business and take charge of their lives.

Let’s take a look at seven of the hottest tips for today’s business start ups, ideas which can help you succeed in your new endeavor:

1. Financing – Do you have enough money to launch a business? At home businesses generally have a low overhead, thanks to in home office space, utilities and the sharing of an internet connection. But for businesses set to launch outside of the home, expenses surge which means money will be needed in order to keep things flowing. Unless you already have a large stash of cash to tap, you’ll probably need the help of angel investors or venture capitalists to help fund your endeavor. Interest rates can be quite high or you may be required to cede a portion of ownership in exchange for funding.

2. Real Estate – Relating to the first point, financing, how much room do you need for your business? And, if needed, can you gain additional room without having to relocate? Your physical location may be of extreme importance, especially if you rely upon foot traffic. How much will you pay per square foot? What will your utilities run? How long of a lease will you sign?

3. Planning – Do you have a business plan in place? If so, do you have contingencies built in should you fail to meet certain expected criteria? Lots of new businesses quickly fail because their owners do not consider possible negative ramifications that can arise. If expected sales don’t materialize within a certain period of time, what will your response be?

4. Marketing – How will you tell people about your business? Advertising costs can be costly and not every method is effective. Newspapers, internet, radio and television time are standard ways to advertise as well as sponsoring events, road signage and industry networking.

5. Networking – Marketing is geared more toward reaching your customers while networking is teaming up with other businesses through various associations including the Better Business Bureau. Through networking, you can meet people who can help finance your business, share marketing tips, provide tools to help your business succeed, etc.

6. Purchasing – Where will you get your product from? What sort of costs will you incur and when will payment be expected? Payment terms can trump price especially if the terms prove to be unfavorable. Look at a variety of supplier sources and compare payment terms to come up with the best arrangement for you.

7. Pay Yourself – Unless you are independently wealthy, you’ll need to tap your business at some point to live on. You may have savings set aside for one or two years, perhaps longer, but at some point you’ll need to pay yourself. Prepare well in advance for the day when you need to withdraw funds for your own use.

Running a business can be tremendously rewarding, but time consuming. By putting a sound business plan in place before you launch, you can reduce your stress, increase your income, and ensure that your entity gets off on the right footing.

Adv. — If you’re interested in buying an established business, then visit the National Association of Certified Business Brokers (NACBB) and check out their current listings.

Tags: business start up, financing, marketing, networking, planning, purchasing, real estate, small business

Low mortgage rates are perhaps the only thing that will get people to buy a new home or refinance their current home in this difficult market. And that is why a recent trend toward lower rates is being greeted with enthusiasm by real estate brokers and policy makers alike.

Earlier this year, mortgage interest rates dropped below 5% for a brief period of time, setting off an avalanche of refinancing while encouraging fence sitting home buyers to jump into the market. That move helped to stabilize the housing market in some areas, even forcing home prices to rise a bit. Unfortunately, the drop to near historic lows on a thirty-year fixed rate mortgage didn’t last, eventually sending rates above six percent for a brief time.

Rates Are Down And A Tax Credit Nears Its End

Now that rates have begun to fall again, home buyers are starting to show interest in entering the market. Zillow says that the national rate for a thirty-year fixed interest loan is now 5.4% and 4.79% for a fifteen-year loan. Add in the fact that the $8000 tax credit for new home buyers is slated to end on December 1st gives first time buyers every reason to shop right now.

According to Zillow, thirty-year fixed mortgage rates varied by state. Florida mortgage rates, and Georgia mortgage rates decreased the most, from 5.44 percent to 5.33 percent in Florida and from 5.42 percent to 5.32 percent in Georgia. Illinois mortgage rates, Massachusetts mortgage rates, New York mortgage rates and Ohio mortgage rates were the highest, each at 5.48 percent. Georgia mortgage rates were the lowest, at 5.32 percent. California mortgage rates were the most requested among all states.

Shopping Around For A Mortgage

Home shoppers who expect to check out property in the coming weeks should get prequalified for a mortgage before heading out. Mortgage ready buyers are much more likely to have their bid accepted by the homeowner who may have already found that not everyone interested in their home can get financing. By carrying your approval letter with them, home buyers can prove that they are ready to make a firm offer, perhaps beating out a competing offer from someone who hasn’t been qualified yet.

In this market, buyers need every edge that they can get. Though it truly is a buyer’s market, make things easy on yourself by getting prequalified now and locking in that good rate!

Adv. – If you are a first time homeowner, don’t forget that the federal government is giving to you an $8000 buying credit good through November 30, 2009. For more information about buying a home, finding a mortgage or refinancing, please visit SayLending.com.

Tags: financing, home buyers, home sellers, interest rates, Loans, mortgage

Before you take out a loan, apply for credit or consider any other borrowing mechanism, how thorough are you in researching all of your options? With the internet, it is quite easy to make an informed choice — there is so much good stuff online — but, it is just as easy to make a snap decision. Indeed, in these days where lax lending has led to an increase in loan defaults, consumers should exercise plenty of caution before agreeing to any loan.

Our companion site, SayLending, has all of the material you need to make an informed decision before taking on debt. Whether borrowing money for a new home; refinancing your current mortgage; seeking to tap your home’s equity; applying for a credit card; looking for a loan for school, vacation, new car, etc.; we’ve developed specific guides for various life events.

Specifically we invite you to peruse the following:

• Home Mortgage Guide
• Home Refinancing Guide
• Home Equity Guide
• Debt Relief Guide
• Student Financing Guide
• Auto Lending Guide
• What’s New In Credit Cards
• Fast Cash Guide

Each guide is designed to help you decide which loans are best for you and how to negotiate the best deal. Lenders are eager to have you borrow money, particularly as credit has tightened and loan applications are down. However, don’t let their eagerness force you to take a loan that doesn’t meet your needs — you’re in control and in a position to work out a deal that is best for you.

Tags: financing, financing guides, lending, Loans