Every small start up businessman or woman is going to ask themselves the thorny question how do I source more funding, what options do I have . . . . In the first place the start up will probably have access to personal investment capital or personal savings in the bank. This is generally the beginning of the adventure. Always feels good to know you have used your own money to fund the first steps. Then as growth and development needs arise, there are other forms of financing. These will come with a price of course, but if the business is going to maintain a firm and healthy level of growth, then it should be possible to keep the income much higher than the outgoings. That is the plan. Venture capital; government assistance; commercial bank loans and overdrafts and of course there is always the chance that the family will back the venture and want to help out. Always best if they are putting in funding on a very secure voluntary basis and not to prop up a sick donkey. It’s well known that parents rarely get money back that they’ve lent out to their offspring, be that for business or house buying. But younger folk about to tackle the bank of ma & pa should be honest about their expectations of paying any ‘loan’ back.
Knowing Funding Is Available If It Becomes An Issue
