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Funding Your Business

You have a number of options when it comes to financing your business. It is essential to choose the right ones for your needs.

  1. Personal Savings

    Start-ups are most commonly funded by the owners and founders of the business – this is the simplest approach and allows you the greatest control over your business.

    However, it may be several months or more before you can earn an income for yourself so ensure your personal finances are in order and only use excess funds to invest in your business.

  1. Loans From Family & Friends

    Get financing on more flexible terms than those offered by a bank, while your family and friends earn interest on their spare cash while helping you to achieve your dream.

Further reading
Overview Of Loans
  1. Venture Capital

    If you have little assets to put up as collateral for loans, you can consider selling a portion of your business shares in exchange for cash.

Further reading
Equity Financing
Getting Investors
  1. Loans From Banks

    Banks are generally risk-averse and new businesses without track records are considered high-risk. Getting a loan requires careful pre-planning and preparation as well as a solid business plan if you want to increase your chances of securing a loan.

Further reading
Loans For Start-Ups
  1. Government Assistance

    There are various business assistance schemes to help you gain access to loans, equity financing, grants and incentives.

Further reading
Government Assistance