May 04, 2020
2 Things Felons Can do to Create the Perfect Career
In this economy owning a business will continue to reign supreme for many years and decades. In support of this belief, some felons have conducted research while serving their time to identify niche markets in which they can and have started their own businesses. Furthermore, according to Lending Tree (Wylie, 2019) a felony conviction doesn't have to stop you from applying for a business loan. In other words the same funding available to everyone else is also available to felons and they are eligible to apply for funding to get their businesses up and running.
Moving from Idea to Business Plan
The first thing a felon or anybody wanting to start a business needs to do is come up with an idea. Then that idea should evolve into a business plan where in this case the felon has identified the variables within that market that will allow felons to be successful. For example, opening a gun store as a felon may not be possible depending on what the conviction is. The same rule applies towards being a teacher in a public-school system. Do your research and see what qualifications and credentials are required to enter into a specific profession. Equally important, identify the barriers if any that may prevent you from gaining access into the field.
Securing Funds for a Business
Once a business plan has been crafted, there is a need to secure funds to get the business going. A felon is more likely to secure funds when they have a viable business plan that is detailed and outlining the factors including how soon before the business becomes profitable. Also, there is an increased likelihood of securing funds if you are applying at an institution where you have an established account and history of doing business with the bank or lending institution.
Crowd funding for Felons
As a felon, you can secure funds through crowd funding which consists of securing small amounts of money from many individuals to fund your business goal. One popular method of this is using GoFundMe. On GoFundMe, you create a free page where you showcase your project and/or idea and create a goal amount of funds you would like to acquire. People visit your page and if interested they make donations in various amounts ultimately helping you work towards your desired funding amount.
In closing, the idea of owning a business provides a different set of security for a felon to create the perfect career compared to working for someone or some organization. The access points to opening a business varies as well because the criteria isn’t as strict as it would be to work for someone else. This includes but is not limited to not being drug screened, not meeting rigid certification criteria.
Wylie, M. (2019). Business resources and grants for felons. Retrieved from