There are several reasons why people consider this option, including needing money so you and the team can work full-time on the business, getting the first couple of customers, taking the idea from minimum viable product to actual product or needing to cover legal fees. The reasons vary.How much you need will dictate where you may go to seek financial support; the same applies to the type of business you have.
It’s knowing that you have enough security that you don’t have to sacrifice your financial health in order to do so.To bootstrap means the founder of the business uses their own personal money from their pocket or resources to support their business. Typically what happens here is when the business makes its first couple of sales the money is reinvested back into the business — this is the most popular approach.
Antonia* is a 26-year-old freelance musical theatre teacher and vocal coach in the West Midlands. Here is her money month…