Growing small businesses in Omaha

February 21, 2022

We need to support Omaha businesses that are at a standstill. That's why, together with my team, I made a list of opportunities that would help people grow their businesses in these not easy times.

Personal Funds

Using personal funds is an excellent way to finance the product because you stay in power, and you can keep all the profit. However, there is also the risk of losing all your money and being left with a large amount of debt. Sources of personal funds include:

Your savings, credit cards, home mortgage, bank loans, or getting a loan from the city's economic development office.
Loans secured by people close to you. For example, your parents can be guarantors to get the loan you need.

Business Partners

Are there distributors or other organizations that could benefit from investing in your product? If you open a coffee shop, do you think that those who bring you cups, coffee cups or appliances might be interested in investing with you? Or do you feel that the supplier of a product that is not related to coffee (such as juice) could provide you with the funds you need if you put the name on the door (for example, "Juice X available inside")?

Possible business partners are:

Local companies that want a special promotion.
Other inventors whose products can be sold alongside yours.
Store owners who could make money from your product.
The suppliers of the goods you are going to sell.

Private Investors

These potential investors are people who have the money they want to invest. They usually expect a high profit because start-ups are quite a risk.

Potential sources are:

Wealthy individuals, adventurous capitalists, colleagues, or even enthusiastic customers of the stores where you’ll sell your products.
Local entrepreneurial or investment clubs.
Names of investors you find in various articles.
Store owners.

Bank Financing

Usually, banks are not a good source of capital at the beginning of the business. Lending restrictions do not allow them to invest in companies that are less than two years old. However, you can get a credit card from a bank and use the withdrawal option to get some money.

Grants Funds

Everyone has heard of Omaha’s funds, but not all business owners know how to get their hands on them. When learning such a source of financing, the first thing to consider is that they are not granted for any type of business. Also, it is good to know that they are challenging to obtain and only after you have invested money from other sources of financing.

I’ll give the small business all my support to help them flourish in these challenging times. Also, there will be many other financial aids supporting companies that have suffered from this pandemic.

Sincerely yours, Mark Gudgel.