You have to spend a buck to make a buck, and starting a company proves that rule. Often, people looking to open a business need to invest in some start-up equipment or consumables and those items can be costly. The long term shows promise, but having a solid foundation to open your business is important. So just what are the options for finding enough funds to get your company off the ground?
Your first and easiest source of start-up funding may logically be your friends and family. They know you, your dreams, goals and ideas, and they know how motivated you are to carry out the plans that you’ve surely told them about already. However, entering into a business relationship with friends and family isn’t always a good idea. These people won’t be able to be objective about their contribution and may only be providing you money based on personal feelings. Money and emotions should never mix. In addition, finding other sources of investors that are experts in the field may prove to be more useful, as these individuals can provide you with advice and counsel for your business.
Before accepting money, be sure to have a frank discussion on what will...
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