There are start-up costs for any new business venture and the creative business is no exception. Although the creative professional may already own many of the tools necessary to run a successful business, there will likely be other added expenses. This is especially true if the creative professional decides to run a business outside the home, or will need to hire employees or special services, or will require expensive equipment.

Small Business Incubators

A freelance writer will not likely need much in the way of business assistance. The costs of starting up a freelance business are small: a computer, a printer, a few memberships to professional organizations, and a couple miscellaneous expenses. However, if that freelance writer wants to start publishing a magazine, the writer-turned-publisher will need outside help.

Many communities with a local business association or business initiative have small-business incubators, or something similar. The incubators provide start-up businesses with a safe haven in which to flourish. The incubators are actually office space that is provided at little to no charge to the business owner. Mentors are available to give advice on how to get the business up and running. Some may provide financial support.

The stay in the incubator is not meant to be permanent. Usually there is a defined time period for how long the new business can stay. The idea is to give the small business a little push toward success, establishing it so that it is able to support itself in the mainstream business world. An incubator is an ideal opportunity for businesses like new magazines and photography studios.

Small Business Loans

The creative professional may be eligible for a small business loan when starting up the new business.

To apply for the small business loan, it is best for the creative professional to begin with a lender with which the professional has had past experience (this could be their personal bank or credit union, for example). While the requirements will differ between situations and needs, the creative professional will need to provide information on the reason behind the loan, the history (if any) of the business venture, any financial statements available from the business, business projections, financial backers or personal financial statements, and a resume to show experience in the area of the business.