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You have your business idea, your business plan in tow, your ducks in a row, and you're ready to get

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

your business off the ground except for one problem - you have no start up capital. Unless you were b

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

rn into wealth and have it at your disposal, then you are like most small businesses and need a helpi

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

g hand.

How can you raise start up capital? There are a few ways to go about it:

Small Business

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

ank Loans
Many financial institutions provide some type of small business loan program. In

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

order to get funding from a bank for your small business, you will need a solid business plan. You'll

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

have to prove that your business will generate enough cash to make the loan payments. Each bank's req

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

uirements are different but if you are able to articulate how you will succeed, have decent credit, a

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

d possibly a co-signer, you may be able to secure a small business bank loan.

SBA (Small Business

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

Administration)
The SBA is a great resource that provides information on requirements, cre

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

it factors, how to apply for loans, etc. The web site is a good starting point before attempting to a

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ply at a bank. The better prepared you are, the easier it will be when you begin the application proc

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

ss.

Family & Friends
A lot of small businesses raise start up capital this way. Family

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

and friends usually want you to succeed and believe in your business. It is wise to treat these relat

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

ionships as real business relationships. Plan how you will repay their loans, the time frame, and at

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

hat interest rate.

Angel Investors & Venture Capital Firms
Private angel investors and

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

venture capital firms work primarily in the same way. They invest in the equity of your business and

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

xpect a return in the form of an acquisition, IPO, or stock buy back in the future.

The key to any

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

f the above methods is to have a well written business plan. A good business plan will prove that you

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

are serious about your business and that you can demonstrate the way you plan on making it successful

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Many small business owners make an attempt to create their own layouts for their initial trade show display. This makes perfect sense because most small business owners are used to doing everything themselves and like the idea of saving a buck when possible.

Cleaning companies basically fall into three categories. Large national or multinational companies; small to medium sized companies who operate within well defined regions; and small cleaning companies operating within one single town and often run by husband and wife teams. The very large companies employ many hundreds if not thousands of staff. The SME's may employ around 10 – 60 people and the very small ones are often reluctant to get involved with employing people at all and if they do their number can be counted on one hand. The majority of the employees regardless of the size of the company are of foreign origin with English being a second language, and generally will be on low pay.

Coaching is different than consulting, says Dr. Gary S. Goodman, who does both, professionally. Small businesses, especially, should take advantage of coaching because it is practical, hands-on, and cost-effective. A good coach will have five qualities, according to this expert in sales and customer service training, best-selling author, and radio and TV commentator.

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