Cash in a Snap 6789 Quail Hill Pkwy, #845

Irvine, California

How to Master Your Money in California

The economy in many parts of California is recovering, making it easier to start

businesses, find jobs, and invest locally. Setting up a new venture has not been this

profitable and easy since 2008. Borrowing money is usually necessary to start a

business. Create an intelligent business plan that will pay back the money owed

and make a profit sooner than you think. Most of California is recovering from the economic recession. There is increased infrastructure, a better educated and trained workforce, and lower loan interest rates in many areas. The Los Angeles area as a whole is recovering due to better infrastructure, with tourism returning, local government spending stabilizing, and the housing market improving. Los Angeles County especially will recover due to increased public infrastructure and entertainment attractions driving the local economy. The Bay Area remains a strong economic center bolstered by its high tourism revenues. This trend will continue, with more funds available for public infrastructure spending for San Francisco, San Jose, and Oakland. Technology will also play a pivotal role in these expanding markets. Technology companies are expected to be highly profitable in these areas in the coming years. Better training and education for workers are driving wages higher statewide. In the San Diego area, for example, payrolls are seeing a sharp increase due to higher education of the workforce. The unemployment rate in the San Diego area has fallen below nine percent. Lower costs of business and living expenses are expected to attract more businesses to the Sacramento area. Businesses are finding an easier time to open their doors and find business loans with reasonable interest rates. The Los Angeles, San Francisco Bay, San Diego, and Sacramento areas are rife with opportunities due to their refocus on public spending and infrastructure, a workforce better trained and focused on the growing technology sector, and policies by banks and local government that cater to local businesses. Now is the time to start a business or invest locally in California. Investing in property and business is becoming more profitable in California. Construction is increasing in many areas. Construction is providing more jobs to workers, particularly in the Los Angeles area. While construction is good news for the job market, it also enables new businesses to start up. The more space there is for new and expanding businesses, the more jobs there are, and the more opportunities for investors. As the economy recovers and more property is developed, the opportunity to invest in property becomes more enticing. If the spending habits of the very rich are any indication, many invest heavily in property because of its ability to hold value. This is especially true in just about all areas of California, where the housing market is finally recovering. A recent economic report states that the median price of homes with one family has

bottomed out and will trend upward. This is good news for the economy of the state as

a whole, and for investors. Every indicator reveals that the housing market is finally

Cash in a Snap 6789 Quail Hill Pkwy, #845

Irvine, California

stabilizing after the crash of 2008. There are fewer homes for sale, and foreclosure

rates are dropping. This shows that the local economies for almost all areas of

California have started to recover and it’s the right time to invest in local businesses

and property. Another indicator of economic growth is small business success. More small businesses are surviving and making profits. Technology companies are especially successful in the Bay Area, where the economy has always been bolstered by

technology. In the economic recovery, technology companies, such as established ones like Twitter, will drive down unemployment and continue to bolster the economy.

In the San Diego area, technology companies have supported themselves through military contracts, making them all the more profitable. Hence, the overall growth of the economy makes it a prime time to start a new business in California. Starting a business in California is the easiest it has been since the economic

downturn in 2008. One of the main reasons for this is that tourism is booming right

now in California. The Los Angeles and Bay Area regions are particularly hot

destinations for tourists. With the recovery of Hollywood and a growing sector of

entertainment attractions, Los Angeles has seen its average payrolls strengthened by

an influx of tourism and tourist related businesses. The Bay Area, particularly San Francisco, sees a huge number of tourists every year,

and this year is no different. The Bay Area's economy is held aloft by visitor-dependent

industries, meaning more customers for new businesses. With the economy in

recovery statewide, acquiring the capital needed to start a new business is easier to

obtain as well. Even the Sacramento area is especially ripe for new business. With an increased

investment in infrastructure in Sacramento, the area has become a great place to start

a business, and banks in the area are looking to lend to new businesses that will

continue the economic growth of the area. More lenders are willing to take risks on new

businesses in California as a whole and more new businesses are flocking to the

Sacramento area because of its ability to foster them. California is ripe with opportunity, the factor that most often determines which businesses fail and which succeed is management of cash and debt. To start a business, you will probably need to take out a sizable loan to get it off the ground. You

should plan to pay this back as soon as you can to cut down on interest payments. This may be tough to do at first when your business is just starting out and hasn't been established yet, but smart debt management will allow you to pay back the debt and make profit in the first two years. Be as sure as you can that your business plan is solid and will yield enough profits to pay off debt and expand. If the original plan is not working, be confident enough to change it to something that will make more money. Debt and cash management makes or breaks most businesses. Debt management goes beyond businesses. Individuals need to manage their personal

Cash in a Snap 6789 Quail Hill Pkwy, #845

Irvine, California

debt wisely as well. The rule of thumb is to never take on more debt than you can pay back within a year at least. It is easy for private individuals to get behind on payments, pay only the interest and take a long time to rise out of debt. Work to keep your debt manageable, whether it is for a business or otherwise. Sometimes debt is unavoidable, and we must take on more than we want, but find a way to increase your profitability to pay it off as soon as you can. Right now in California, it is getting easier to find a job, invest locally, and start your

own local business in many areas of the state. Take advantage of this economic

recovery.

- Kimmy Burgess