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Financing your manufacturing startup
Because of the high front-end cost of starting a manufac-
turing enterprise, the issues dealing with financing are all-
important . You need to find ways to attain the financing you
need right now even though the return on investment may
take some time to develop .
The sources of financing are varied, and you will likely take
advantage of several opportunities in different combina-
tions . These financiers might be public sources, private
sources, or the suppliers or customers with whom you
intend to do business .
Public Options.
To investigate financing for your new manu-
facturing enterprise, you will want to check the web site
of the economic development department in any state
where your business is physically located . These resources
usually provide a wealth of useful information about the
grant programs, loan programs and tax incentive programs
available for new manufacturers starting a business in the
state . You should also check the web sites of the states’
manufacturers’ association . They, too, are excellent
resources on both tax matters and economic development
financing opportunities .
Many states have small business incubator programs that
bring new, entrepreneurial businesses together in a shared
facility . Participation in such a program, if you can qualify,
could help you to obtain cost-effective facilities for your
new operation . Other state government programs may
provide other financial support for your new business .
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