It's common knowledge that the beginning of the year is a great time to start a business or LLC.
The real question is, how are you going to get funding for it?
Reasons for starting an LLC at the beginning of the year
First, it allows you to take advantage of the fresh start that comes with a new year.
Many people set resolutions and goals for the year ahead, and starting a business or LLC can be a great way to turn those aspirations into action.
Second, starting a business or LLC allows you to take advantage of the timing for tax purposes.
You can deduct expenses for your business or LLC for the entire year, even if you only start it in January. This can help you save money on taxes and invest more in your business.
Third, starting a business or LLC at the beginning of the year allows you to take advantage of the slow period for many businesses.
Many companies are still recovering from the holiday season and might not be as focused on competing for new business. This allows you to establish your business and gain a foothold in your market before the busy season begins.
Fourth, the beginning of the year is also a great time to set your business strategy, goals and plans for the rest of the year.
What's the best way to get the most funding for your LLC?
Getting funding for your business is crucial as it allows you to invest in the resources and equipment you need to grow and expand your business. Without funding, it can be difficult to hire employees, purchase inventory, or expand your operations.
One way to secure funding for your business is through credit stacking.
Credit stacking is the process of using multiple lines of credit to finance your business. By using multiple lines of credit, you can access a larger amount of funding than you’d be able to with just one loan.
But there are smart ways to do it and dangerous ways that get you into even more trouble.
When new business owners consider starting a business, they make the mistake of using their personal credit cards, which can lead to getting buried deeper and deeper in to high interest rates and debt.
This is something I’ve done myself and one of the reasons why I coach people to take advantage of business credit.
Business credit cards are a great benefit because they improve your credit score. Each time you apply for and use a line of credit, you are building a positive credit history, which helps to qualify for lower interest rates and better credit terms in the future.
Getting funding for your business is crucial as it allows you to invest in the resources and equipment you need to grow and expand your business. Credit stacking is one way to secure funding and diversify funding sources.
I literally wrote the book on how to get the most funding for your business, with tens of thousands of dollars at 0% interest business credit. And within our Credit Stacking community, I’m teaching others how to do the same.
Come join the rapidly growing community of entrepreneurs who are getting access to financial freedom by becoming their own bank.