10 Sources Of Startup Funds

Posted by Steven Teo under Finance & Capital,
September 1, 2007

Businessknowhow: Why don't more people start their own business?

If you answered, "lack of funds" you're right on the money.

In various ways, money - getting enough to start the business and worry about not making enough money to replace the income and benefits from a full-time job - is one of the biggest deterrents to would-be business owners.

Nevertheless hundreds of thousands of individuals start businesses each year. How do they do it? Where do they get the money to get started? Here are ten solutions for startup funding for a micro-sized business. Some are nearly risk-free. Others involve significant financial risk and should be used with caution.

1 - Start part-time.
2 - Start the business from home.
3 - Get advance commitments for work.
4 - Get a part-time job.
5 - Live frugally.
6 - Use a credit card.
7 - Apply for a home equity line of credit.
8 - Apply for business loan.
9 - Ask Your Bank About an SBA-guaranteed loan.
10 - Borrow from family and friends.

Where to Get Money to Start a Business [Businessknowhow]

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