First-time small business owners cannot navigate startup legal and funding steps
16 posts across 2 communities in the last 60 days; 94% from r/smallbusiness.
“Been thinking about this for weeks now. Everyone talks about "just start" but when you have zero savings, no investors, and can't take a loan, where do you even begin? I'm not looking for the generic "sell on Etsy" answer — I want to know what actually worked for people here…”
“I want to open a tiny town play cafe and creative studio. It feels nearly impossible though because I have low to no credit. I have a space in mind and I know what I want to do. But the fact is that all the elbow grease in the world isn't going to keep the lights on or doors…”
“They did the work but charged for tax. No HST number ( yes Canada ) though. How do I handle this? I already recommended them and now I’m recommending a fraudster - course of actions”
Several posts highlight the challenges faced by small business owners, particularly those starting out. These include difficulties securing funding (low credit scores), navigating complex legal and financial requirements (retirement plans, HST numbers), and dealing with unexpected vendor issues.
SOURCES (31)
“Hi everyone, I'm planning to start a small business in Morocco, but I need to figure out how to finance the initial stage before I can begin selling. I'm comparing different possibilities, such as saving gradually, crowdfunding, small business grants, and support from individuals who…”
“I’ve been reading a lot about how searching for and buying a small business actually works, and the more I read, the more it seems like the real experience is very different from the guides. Most of what’s out there is either textbook advice or a success story told after the fact. So I’d like to hear from people who’ve been through it, whether you closed, are still searching, or walked away. Where did things take longer, cost more, or go differently than you expected? It could be sourcing, worki”
“Federal contracts have set-asides meant for small businesses, but most owners I talk to have never won one or never tried. If you've looked into it, where did it fall apart? ▎ And if you did win one, what made the difference? submitted by /u/Equivalent_Web_6507 [link] [comments]”
“For those who have gone this route in obtaining an SBA loan. How difficult was it to acquire? I understand that there are various factors that play into this and all have different requirements. I’ll start off with I am starting my own company I’ve gotten several recommendations as to go with local bank instead as the company has no credit history. Any information or advice is welcomed. Thank you in advance. submitted by /u/BaTMaN1_24 [link] [comments]”
“I run a small business I started from my kitchen table in Tauranga, New Zealand, while being a full-time carer for my daughter, who has an intellectual disability. Both jobs, all day, every day. It started with a small, practical problem. I was putting together a dessert table for weddings with a free-from side, and the one thing missing was fudge. Every allergy-free version I could find used ingredients that excluded someone else. So I made my own. That eventually led me to a new way to get pro”
“I'm considering the possibility of buying a local indoor playground and have done research on the practical side of actually running the business, but I would love some advice on where to start when it comes to the purchase itself. What types of things do I need to make sure I ask the current owners regarding the building, included furnishings and equipment, monthly and annual income and costs, etc? What ducks do I have to line up and in what formation for a bank to look at them and go "”
“I'm seriously considering buying an existing women's resale/consignment franchise, and I'd really like some perspective from people who have actually bought a struggling business or franchise and tried to turn it around. This isn't something I dreamed up last week. About 20 years ago, I seriously considered opening a consignment store but life went in other directions. I've worked in several different fields since then and currently have a stable corporate job. I wasn't a”
“Purely as the title suggests. I want to use the money I've saved working in corporate for the past 5 years to buy a small business with an SBA loan. What should I absolutely avoid? submitted by /u/carrerashs [link] [comments]”
“Hey all. Looking at acquiring a business. it should be sba preapproved, which seems to mean the published numbers aren't completely fabricated. has anyone recently done an sba loan process? any advice? my numbers all seem to pencil out, but i've never done this before. what am i missing - what are the unknowns that a new business owner wouldn't think to ask? notes: it is in my industry, i've done people leadership in a corporate environment before. i plan on getting a look at the”
“Hi all - I am looking to start an indoor children's play facility. I have the option to get friends & family investment, however I will need substantially more funds for the architecture, build, lease and TI (and everything else to get started). I use Bluevine for a separate, 100% digital business - and Bluevine is great, but I am now looking for a bank to open business accounts, and ideally secure a SBA loan ranging from $500k-1M if possible. Any insights and suggestions are tremendousl”
“I work in commercial lending on the underwriting/risk side, so I review financing requests from small/mid-size businesses every day. One thing I've noticed is that many businesses are declined, or only qualify for smaller offers or shorter terms, because of issues that are often fixable. With how challenging the past few years have been, I wanted to build something that helps business owners better understand how lenders evaluate applications and what they can improve before applying for fun”
“I am an indoor playground owner and sought a loan to start our business. I am happy to discuss any questions you have!”
“My wife and I are looking to start a business. We want to open an indoor playground. Our community and nearby communities do not have one. The closest one is 20 minutes away, and the others are 40 minutes away. Our town is growing, and lots of families are moving in. I feel like it will add a lot of value to the families around here. My wife and I have run into a roadblock: we have some cash, but not enough to start this business. We can put the house up as collateral, and I have researched what”
“Curious how other small business owners think about this. Have you ever taken out a loan — or almost did — and later realized you probably shouldn't have borrowed at all, or that you went with the wrong type (like an unsecured loan when you could've qualified for a better bank rate)? Trying to understand how common this actually is and how people figure out whether borrowing is even the right call in the first place. Did you work through that with an accountant/bookkeeper, or mostly on y”
“I want to fund my Oatmeal business and Im planning to write a proposal and giving it to a bank, is it possible I can get funding by writing a proposal without an already generated income ? will they look at my credit ? how can I get business funding with a proposal from a bank ? what are the steps and process ? is it possible ? submitted by /u/DelphiniumWater [link] [comments]”
To open and run a business but it’s supposed to be a SMALL business loan!
“I work in commercial lending on the underwriting/risk side, so I review financing requests from small/mid-size businesses every day. One thing I've noticed is that many businesses are declined, or only qualify for smaller offers or shorter terms, because of issues that are often fixable. With how challenging the past few years have been, I wanted to build something that helps business owners better understand how lenders evaluate applications and what they can improve before applying for fun”
“Hi everyone! I’m in the process of starting a small business making homemade dog treats and baked goods. I have everything registered in my state and it’s an LLC. I’ve never gotten funding or credit cards, etc for a business before (I had a business several years ago and used cash for everything to stay out of debt) and don’t know the first place to start for building up credit for a business. Does it all go by the EIN or does it affect your personal credit score and report as well? submit”
“I’m considering opening an indoor play café in the U.S. and would really appreciate some honest advice from other business owners, especially those who have opened a similar business. I have about 4 years of business experience, but that was in my home country. I’ve been in the U.S. for about 2.5 years and have only worked part-time here. I’ve found a franchise opportunity that seems like a good fit. The franchisor would help me with the business plan, loan preparation, and the process of gettin”
“All SBA lenders we've found have been variable rate, anyone know of fixed rate SBA lenders for business acquisitions? submitted by /u/TaxBowl [link] [comments]”
“Been thinking about this for weeks now. Everyone talks about "just start" but when you have zero savings, no investors, and can't take a loan, where do you even begin? I'm not looking for the generic "sell on Etsy" answer — I want to know what actually worked for people here. Did you start with a skill you already had? Freelancing first, then reinvesting? Bartering services? Would love to hear real stories, not just theory. What's the first thing you did in week 1”
“I’m looking for some honest advice from people in Hong Kong who have actually built businesses here. My family immigrated to Hong Kong from a pretty difficult part of the world, and we’ve been through a lot to get here. We’re not from a wealthy background, so I don’t have a huge amount of money to invest or the luxury of failing over and over. I know a regular 9-5 job is probably the safest option, and I’ll likely work one, but I don’t see minimum-wage work changing my family’s financial situati”
“I’m interested in starting a brick-and-mortar small business (a small café concept with a retail counter and events every couple weeks), but I’m trying to understand how I could finance it with my situation, and it sounds like I would have to go with investors rather than a business loan. My situation: - I have an LLC that I’ve operated for the past 3 years. So far it's just a little business selling soaps and my book online and at craft fairs here and there, generating 1k-2k per year. I hav”
“I have two business idea one is dairy and other one is hote or homestay. I am from mountains and have good location for both the business. But don't have money to make it happen what should I do how can I do it. Suggest me any thing or if anyone is interested in doing business then can start together but must have to invest bit more initial capital .... don't give suggestion for loan ..personnelly I don't feel it good submitted by /u/confused-100-percent [link] [com”
“TL;DR: I have no idea where to start. Any advice? Theres a need. I want to fill it. I don’t know how. Please help. I know I’d probably have to take out a business loan. I’m definitely gonna mess up. I wanna ask the rink owner in the other county but I’m nervous they’ll just get mad and view me as competition. submitted by /u/Brave_Acanthisitta53 [link] [comments]”
“I want to open a tiny town play cafe and creative studio. It feels nearly impossible though because I have low to no credit. I have a space in mind and I know what I want to do. But the fact is that all the elbow grease in the world isn't going to keep the lights on or doors open. If given the chance though, I know I'd throw my entire existence into making it work. Has anyone gone from absolutely no funding options to opening a brick and mortar? I know the idea and opportunity is viable”
“I'm in the process of buying my first daycare nursery and wondered if anyone would be willing to share the biggest mistakes they made when buying theirs, or any advice they'd give someone buying any kind of business. I'm coming from a completely different industry. I've spent my career growing other people's businesses through full autonomy and very successfully (more successful for them than me, as is the deal), so I'm comfortable with the commercial side, marketing, lea”
“I have a simple, not high income side business where I've added in my minor children to help me with packing envelopes, etc. I'm trying to understand retirement plan requirements, specifically in my case for CA. I used to contribute to a SEP IRA for myself. What options do I have now? Can I still do a SEP IRA since they don't qualify for CalSavers? Or, would I have to create SEP IRAs for them too and contribute equally? submitted by /u/Shibashiba00 [link] [comments]”