Bellevue, Wash. – July 1, 2006 - America’s diversity is a driving force behind U.S. productivity growth. Today, the entrepreneurial spirit is thriving in all corners of America’s diverse population. The numbers are astonishing; businesses owned by minorities exceed four million and generate countless opportunities to become part of the "ownership society." With a rise in entrepreneurship and, more specifically, in franchising, it is possible for even more of America’s minority population to take charge of their future and truly live the American dream. In addition, due to companies providing unique funding solutions to franchise buyers, more people who may not have qualified for traditional financing are able to purchase a business.
The Employee Retirement Income Security Act (ERISA), which passed in 1974, allows individuals the option of taping into their IRA or 401(k) funds to use as seed capital towards business ownership. Although ERISA was enacted more than 30 years ago, there is very little market awareness and most haven’t had retirement accounts large enough to invest outside the stock market. When the equity market crashed in 2000, savvy investors began to take their retirement futures back into their own hands. With the change in the investment trends, a handful of companies have emerged to facilitate this process. David Nilssen, CEO of Guidant Financial Group, states "There are a number of great benefits to using existing retirement funds for starting your business. Overhead is a major concern for many new businesses and beginning operations debt–free because they used retirement cash, rather than taking out a loan, is a huge advantage to business owners – and doing this without taking a taxable distribution or incurring penalties. Additionally, our clients can shelter income by deferring compensation to their retirement plan."
For those interested in purchasing a business or franchise, there are a number of resources out there to help you locate, evaluate and purchase your franchise. Some helpful websites and service providers are www.guidantfinancial.com, www.franchoice.com, www.wiki-investor.com, FranchiseBusinessReview.com and Franchise50.com.
Guidant Financial Group provides investors with safe and innovative options to invest for their retirement futures. Guidant is the premier provider of self-directed IRAs and business funding solutions through an individual’s IRAs and 401(k)s. Guidant's services allow investors the freedom to make alternative investments in real estate, franchises, businesses, tax liens and more. For more information on self-directed IRAs or small business financing please visit www.guidantfinancial.com.
