Statistics show that more than one particular million people in the United States begin a whole new business every year. That amount would be a lot increased if the many would-be entrepreneurs had the financing essential to obtain a business enterprise up and operating. So that you can achieve their dream of organization possession, entrepreneurs are obtaining new and progressive approaches to finance their new ventures.

In keeping with Leonard Fischer, President/CEO of BeneTrends, one particular of those new financing choices will be the use of a person’s current retirement funds-a pension, profit sharing, 401(k), IRA-which will allow that human being to start the company she or he has always dreamed of with out tax penalties, penalties or mountains of financial debt.

Beneath the Employment Retirement Revenue Safety Act (ERISA), retirement funds may be transferred into usable money for business investments or operations. If a person has more than $40,000 inside a retirement account and isn’t presently employed by the firm that holds these funds, she or he qualifies for this Tiny Organization Administration (SBA)-recognized financing technique to start a business.

Retirement funds can be employed for any business goal, including:

*; Purchasing a franchise or existing company

*; Start-up expenses, such as purchasing property, equipment, etc.

*; Working funds, including paying salaries, franchise fees, etc.

*; Organization expansion, such as funding additional franchises, locations, etc.

*; Equity toward SBA or other loans.

The thought of dipping into one’s retirement can cause some apprehension. Through this investment strategy an individual actually has more control over his/her retirement-instead of gaining minimal growth dependent on the stock market, those savings are actually being invested in one’s own business enterprise. This technique often will allow an individual to set aside much more money for retirement than ever before.

“Today’s entrepreneur faces an environment of tremendous competition, complexity and opportunity, so starting a business enterprise the right way is extra important than ever,” says Dr. Germain Boer, Director of Vanderbilt University’s Center for Entrepreneurship. “This financing method is a good option for an individual who has accumulated funds in his/her retirement accounts.”

The entire process generally takes two to four weeks to be completed, and may be done by phone, email, fax, FedEx and regular mail.

Working with an experienced employee benefits plan expert, starting a business is as simple as these four steps:

Step 1: Establish a C-corporation.

Step 2: The new corporation creates a retirement plan.

Step 3: Funds are rolled over into the corporation’s new retirement plan.

Step 4: The new retirement plan purchases the stock of the corporation.

“So many people have watched their dream of owning their own enterprise go out the window due to lack of funding possibilities. We help people today achieve that dream every day using money they already have,” says Fischer.

If you’re ready to explore this revolutionary financing option, be sure to consult an expert to guide you through the specialized process.

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