Financing your small business is the third step after you came up with a brilliant idea of what to sell and made sure that there is a market for your product or service. People who start their own businesses can often raise start-up capital but are also often unable to grow their businesses because they did not plan to fund it. It is therefore important to have a good financial plan to tide you over when the market slows down and as the market grows, produce more.
People who start their own businesses can often raise start-up capital but are also often unable to grow their businesses because they did not plan to fund it. It is therefore important to have a good financial plan to tide you over when the market slows down and as the market grows, produce more. The major banks all offer small business financing and also have managers who help entrepreneurs choose a banking package. Take your business plan and visit the various banks to see what they offer. Compare the interest they will charge, the period for repayment and how much you will pay in the end to borrow the money.