#PTonICE Daily Show
Episode 1944 - Starting your own practice, pt. 4: financing
Mar 27, 2025
Discover essential funding strategies for starting a therapy practice. Tips include utilizing grants for low-risk financing and exploring loans and credit options. Learn about tracking expenses to unlock tax savings and maximize your startup capital. Plus, gain insights on engaging with the community through social media and events for support and growth.
16:20
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Quick takeaways
- Prioritizing grants as a funding source is essential for starting a therapy business, as they provide non-repayable financial support.
- Understanding the potential tax benefits from personal contributions and tracking expenses is crucial for the financial management of a new practice.
Deep dives
Understanding Grant Funding
Grants are identified as the most advantageous source of funding for starting a therapy business, as they represent free money without the expectation of repayment. It is crucial to prioritize searching for grants before considering other funding options; this includes federal, state, and local grants. Grant resources can be found on platforms like grants.gov, which lists a variety of federal grants, though many may not apply directly to therapy practices. Additionally, local small business departments often have grant programs that might offer funding specifically tailored to individuals from underrepresented groups, such as veterans and women entrepreneurs.
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