Whenever we think of a computer geek, we tend to imagine a young man in thick dark rimmed glasses peering into a computer. However, women have also made gigantic strides into the world of technology. Closer to home and keeping technology in mind, a home based business for women is probably the next emerging trend. The male dominated ranks of “Internet Gurus” is starting to fill up with women, with increasing numbers of women owning websites dedicated to providing the necessary tools that are conducive to online success. More than men, women are embracing the internet community and the numerous advantages of a home based business for women are especially enticing to women.* Stay at home practical benefits:The freedom of choice can become exhilarating, although a drawback can be complacency. Time management and fervent dedication to a goal are essential qualities that should be mastered early on. Being able to stay at home can sometimes be doubly beneficial to women over 50 since they can perform chores such as providing home day care for children (either for their family or for financial gain) and still have the time and stamina to manage a home based business for women. Since practically all fields of interest can be open to women in the online world, the initial step should be to review personal expertise in a specific field and stick with it once the decision is made.One of the biggest mistakes that beginning online marketers make is not to let a certain direction have the opportunity to take hold. Just flitting from one promising opportunity to the next can easily lead to wasted time and money. The emotional benefits of staying at home are not to be understated either. Brainstorming the merits of a certain home based business for women with loved ones can lead to enhanced closeness and helping others make money is a gratifying experience in itself. Not having to answer to a demanding boss is a dream finally come true.* Financial benefits:Beyond the obvious value of making money from a home based business for women, the immediate financial benefits come in the form of reduced travel expenses, dry cleaning or meal expenses associated with working outside the home, clothing, shoes or cosmetics expenses, to name a few. Having the extra time to peruse newspapers or the internet for special deals on needed items will also result in additional savings.* Tax advantages:Having a formal home based business for women will make you eligible to deduct a percentage of your home expenses, such as mortgage, utilities, property taxes, homeowner’s insurance, repairs or improvements, and finally depreciation. For this purpose, having a tax professional, such as an accountant, conduct a formal evaluation would be money well spent since these types of tax deductions tend to raise your IRS audit score.* Skills enhancement:Running your own home based business for women will force you into learning new skills as you become the sole decision maker and will have to be knowledgeable about all the aspects of running a successful business. Remember, you are the CEO. Working from home typically involve low or very low overhead costs, thus budgeting for your business will be less stressful. Online work budgeting commonly consists of training course and marketing costs that are strictly controlled by you.Overall, a home based business for women can be of terrific value, just keep in mind that this is WORK; juxtaposed to the brick and mortar world, this work can sometimes be combined with pleasure.

Auctions are those events where properties or goods are sold to the highest bidder. Auctions are mostly public events, where bidders make a series of bids and purchase a particular item for a high price. During auctions, bidders decide the price of an item rather than the seller. It depends on bidders to decide the amount they would want to pay for a specific item. During an auction, a bid is a proof of a legal binding. Bidders agree to pay the amount that they have bid. In a high profile auction, bidders may have to pay a deposit in escrow accounts or give a proof that they can pay for those items.

Types of Auctions:

Different types of auctions take place around the world. Below mentioned are some types of auctions:

1. English auction:
This is a basic type of auction. In this type, people can see the item and then start bidding. Bidders slowly raise the value of their bid until everyone gives up. The highest bidder is the winner. An auctioneer manages an auction, keeps records of the on going bid and decides the winner. Sometimes, the seller will quote a minimum amount for an item to the auctioneer, below which the auctioneer cannot sell that item.

2. Dutch auction:
In this type, the auctioneer sets a particular price and then gradually lowers the price. People in public will start bidding and later decide which prices are suitable for the item. A seller may use this type of auction to sell large quantities of same products to the public. For instance, a seller may want to sell a large amount of hay and will thus, decide to sell this hay to people for the same amount, once a reasonable price is decided.

3. Silent auction:
In this type, the bidders in public will present their bids in a sealed format. These sealed bids open at the same time and bidder with the highest bid wins. There could be a modification in this type of auction. The bidders are allotted a specific period to bid. They can roam in a room displaying the items, and write their bids on an associated sheet of paper. The bidders are allowed to see bids of other bidders and can choose a higher price for an item. At the end of the allotted time, bidder with the highest bid is the winner.

Examples of Auctions:

Auctions can be of two types either public or private. Sellers may trade any kind of items in both types of auctions. Some areas where auctions take place are:

1. Antique auction: An antique auction consists of a trade opportunity as well as provides entertainment.

2. Collectable auction: In a collectable auction, the seller may put up collectables like coins, vintage cars, luxury, stamps, real estate, and luxury for sale.

3. Wine auction: In wine auction, bidders can bid for rare wine, which may not be available in retail wine shops.

4. Horse auction: Bidders can bid for young horses of the best breed.

5. Livestock auction: In livestock auction, bidders can buy pigs, sheep, cattle, and other livestock.

The other examples of auctions may not be public. These auctions are for bidders from corporate levels. Some examples of private auctions are:

1. Timber auction
2. Spectrum auction
3. Electricity auction
4. Debit auction
5. Environmental auction
6. Auto auction
7. Electronic market auction
8. Sales of business auction

Bidders in an auction need to examine the items displayed and decide an appropriate price for an item. Thus, auctions help buyers in getting the best deals and in gaining better profits for sellers.

For a small business to grow into a big business, it needs a loan unless it has exceptional sales and profit margins. A small business owner has quite a few places where he/she can go with a loan request. Banks seem to be one of their options on most occasions. What these owners might not realize is that banks have recently developed a reputation for rejecting small business loans. It seems that banks are more interested in financing large businesses due to their benefits. A bank can come up with a variety of reasons to reject loan approval for a small business. Some of the common reasons are as under:Reasons for Banks to Reject Your Small Business LoanCredit HistoryOne of the barriers between you and the business loan is credit history. When you go to a bank, they look at your personal as well as business credit reports. Some people are under the impression that their personal credit does not affect their business loans. But that’s not always the case. A majority of banks look into both the types of credits. One of the aspects of credit that matter a lot to the banks is credit history. The length of your credit history can affect your loan approval negatively or positively.The more information banks have at hand to assess your business’ creditworthiness, the easier it is for them to forward you the loan. However, if your business is new and your credit history is short, banks will be unwilling to forward you the desired loan.Risky BusinessYou must be aware of the term high-risk business. In fact, lending institutions have created an entire industry for high-risk businesses to help them with loans, credit card payments, etc. A bank can look at a lot of factors to evaluate your business as a high-risk business. Perhaps you belong to an industry that is high-risk per se. Examples of such businesses are companies selling marijuana-based products, online gambling platforms, and casinos, dating services, blockchain-based services, etc. It is imperative to understand that your business’ activities can also make it a high-risk business.For example, your business might not be a high-risk business per se, but perhaps you have received too many charge-backs on your shipped orders from your customers. In that case, the bank will see you as a risky investment and might eventually reject your loan application.Cash FlowAs stated earlier, your credit history matters a lot when a bank is to approve your loan request. While having a short credit history increases your chances of rejection, a long credit history isn’t always a savior too. Any financial incidents on your credit history that do not favor your business can force the bank to reject your application. One of the most important considerations is the cash flow of your business. When you have cash flow issues, you are at risk of receiving a “no” from the bank for your loan.Your cash flow is a measure for the bank to know how easily you return the loan. If you are tight on cash flow, how will you manage the repayments? However, cash flow is one of the controllable factors for you. Find ways to increase your revenues and lower your expenses. Once you have the right balance, you can approach the bank for a loan.The DebtA mistake that small business owners often make is trying out too many places for loans. They will avoid going to the bank first but get loans from several other sources in the meantime. Once you have obtained your business funding from other sources, it makes sense to return it in time. Approaching the bank when you already have a lot of debt to pay is not advisable at all. Do keep in mind that the debt you or your business owes affects your credit score as well. In short, the bank does not even have to investigate to know your debt. An overview of your credit report can tell the story.The PreparationSometimes, your business is doing fine, and your credit score is in good shape as well. However, what’s missing is a solid business plan and proper preparation for loan approval. If you haven’t already figured out, banks require you to present a lot of documents with your loan approval request. Here are only some of the documents you will have to present to the bank to get approval for your loan.

Income tax returns

Existing loan documents

Personal financial documents

Affiliations and ownership

Business lease documents

Financial statements of the business

You have to be exceptionally careful when these documents and presenting them to the bank. Any discrepancies can result in loan rejection.Concentration of CustomersThis one might come as a surprise to some, but a lot of banks consider this aspect of your business seriously. You must not forget that loans are banks’ investments. Businesses that approach the banks are their vehicles to multiply their money in the form of interest. If the bank senses that your business does not have the potential to expand, it can reject your loan request. Think of a mom and pop shop in a small town with a small population. If it only serves the people of that town and has no potential to grow further, a rejection is imminent.In this particular case, even if the business has considerable profit margins, it relies on its regular customers for that. The bank might see it as a returnable loan but not as an investment opportunity.ConclusionThe good news is that you have a lot of funding options as a small business owner. Today, banks are only one of the many options for you to fund your bank. You don’t necessarily have to apply for loans when you have crowdfunding platforms actively helping small business with their funding needs. If you are seeking a business loan from a bank, that’s fine. However, if the bank does not approve your request, it should not worry you much.