Business loans for small business is 1 option for funding is identical to personal loans. Legal aspect affects my business organization in so many ways for an example let’s say the business organization does not fully follow the constitution by the government while the business is running for an example this can be health and safety the government have the right to cancel my license which allows me to run my business.
The person which I have chosen is Oprah Winfrey she is not running rehabilitation business but in her show Oprah Winfrey show she was able to talk to and help people with addiction problems and that’s a great example to show people that anyone can help an individual who is going through addiction.
Record keeping is the maintenance of the business organizations activities such as its financial dealing, files which the company needs to keep for a certain length of time in order for the business not to lose the records It get updated every month.
In general, banks are more cautious with their money-especially when dealing with new business owners-than private investors or investment firms because banks have to keep in mind that they are lending money that belongs to their account holders, notes D&B Small Business Solutions In addition, banks are more likely to give out small loans (less than $200,000) than fund large ventures.
Some small businesses are further financed through credit card debt—usually a poor choice, given that the interest rate on credit cards is often several times the rate that would be paid on a line of credit at a bank or a bank loan Recent research suggests that the use of credit scores in small business lending by community banks is surprisingly widespread.