Funding is one of the biggest challenges for a startup. Here are some options to help you get off the ground.
21 Oct, 2017BUSINESSADMINISTRATIONINFORMATION.COM
Small businesses make up 99.7 percent of all businesses in the United States, according to the U.S. Small Business Administration (SBA). So, you’re in good company as you embark on this journey.
The first step is to determine how much money you’ll need. understand all your costs including expenses, like market research, advertising, training, wages and consultants, and capital expenditures like inventory, property and vehicles, according to the SBA’s “How to Estimate the Cost of Starting a Business from Scratch.” Assess your assets that can be used to operate during the startup phase of the business, and do the math.
Once you have an idea of what you need, there are several ways to fund your startup business:
Determining the method of funding your startup business shouldn’t be taken lightly. A well-laid plan may mean the difference between failure and success. Take a close look at all of your options and find what will allow you to achieve your dreams.