How to Finance Your Small Business Start Up
It all starts with a great idea, an idea that has probably been in your mind for a long time. You have the product, sorted out, how you are going to deliver your service, where you are going to set up your office and how you are going to market your new business. But the stumbling block always seems to be the finance to get you going.
Finding the finance to get a small business off the ground is a major issue for any potential small business. Some new businesses lend themselves to very little start up capital because the main selling point is the owner’s skills and knowledge, for example consultants, web designers, PR specialists. Businesses which require stock holding, plant, and equipment and other investment, face the real challenge of getting their start up finance together.
So what sources can you tap into to ensure your business gets off to a solid start?
The first port of call! If you have been in employment for some time then before going it alone you should hopefully have some spare cash behind you. Whether this be in the form of cash in a savings account, or shares, and unit trusts, this is a good start to your fund raising exercise.
You can be more focused in saving cash if you have had the goal of setting up your own business for awhile. Knowing you need to save to get your … Read the rest