Setting up a new business can be a daunting prospect. Theres the possibility of failure, and with it, the risk of losing the money youve invested in your company, as well as seeing all your months or even years of hard work go to waste. But, theres truth in the old saying, nothing ventured, nothing gained. The biggest rewards accrue to those who not only have a vision for their business, but also are prepared to see it through and have the courage of their convictions.
Nonetheless, it can be hard finding sources of funding for a new business. In many cases, finding a business angel may be your best bet for sourcing capital to start up a new company. But, lets have a look at some of the other options available to you.
First and most obvious, you may have the available funds yourself. Depending on the level of risk, you may not feel comfortable dipping into your savings to fund a new business; this is a decision you will have to consider long and hard. However, if you feel able to use some of your savings to finance a startup, then so much the better.
Another option is to borrow money from family or friends. If youre doing this, the best and fairest...
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