If you are financing a start up business, then the most obvious choices of capital are
Family and friends
Most start up businesses are started with help from family and friends. They are the ones who are willing to help get you started.
They, however, may not be the best choice for you. So be careful and explore other options before you consider family and friends.
Angel investors
Angel investors are usually former entrepreneurs who look at start up businesses for investment. They are a wonderful source because they not only bring capital but have the potential to bring expertise, know-how and a resourceful network along with them.
You should consider angels as a financing option.
Savings
If you have some spare change that’s stacked away in your piggy bank. This is money you can use to start a business.
Some people are good savers who’ve saved a fair amount of money. But make sure this is money you can afford to loose. Don’t for heavens sake pull money out of your children’s college fund, it will come back to haunt you emotionally and mentally.
Your employer
If you are quitting your job to start a business and you’ve been a loyal, hardworking employee who’s made your boss a lot of money, this is the time for him to pay you back. If he is successful, and he’s got some money to spare, who knows he may just about become your partner.
Image: Michelle Meiklejohn / FreeDigitalPhotos.net
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