If you work from home, then your overhead costs are already pretty low. With a home office you save on transportation, rent, and utilities, but when times are tough you may need to look for more creative ways to save. The trick is to cut costs without cutting corners.

People start their own business for all sorts of reasons – freedom, passion, boredom – you name it. But one reason that I have never seen is that they like budgeting… well, unless that person is an accountant, but you get the idea.

Traditionally, there have been two ways to fund a business: Debt financing and equity financing. Debt financing is what it sounds like – you take on debt in exchange for capital. Debt financing can take many forms. It could a loan from a bank, a Small Business Administration loan, or even a loan from a friend or family member. It actually makes little difference. If you go into debt for the money, that is debt financing.