Financing your start-up

As an entrepreneur you will have to look into getting the funds to manage your operations – and ultimately make a profit. In the medium to long term these funds would be generated via your sales. However, when you are just starting out these funds might not yet be available. You may therefore need to look into financing your operations via:

  • Personal savings
  • Family and friends
  • Private investors
  • Bank loans
  • Grants
  • Business Angels
  • Venture Capital Funds

In the early stages entrepreneurs often either fund themselves or rely on friends and family while they develop their business or social enterprise idea, improve their understanding of the environment in which they plan to operate, collect information on their target market, customers and potential competitors and fine-tune their product or service offering. Before they can apply for more formal and external sources of funding they will usually have had to collect enough information to put a detailed business plan together.

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