| It all starts with a great idea, an idea
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| | don't forget that you are developing a
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| that has probably been in your mind for a
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| | very different relationship which can
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| long time. You have the product sorted
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| | quickly turn sour. Be prepared for rocky
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| out, how you are going to deliver your
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| | times!Bank Line of Credit or LoanNow
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| service, where you are going to set up
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| | you're getting into the serious stuff!
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| your office and how you are going to
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| | Getting support from a Bank for a new
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| market your new business. But the
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| | business is tough, as many entrepreneurs
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| stumbling block always seems to be the
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| | will testify. One sneaky way is to apply
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| finance to get you going.Finding the
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| | for an unsecured loan while you are still
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| finance to get a small business off the
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| | in employment. If you have planned things
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| ground is a major issue for any potential
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| | right you will know when you are starting
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| small business. Some new businesses lend
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| | up, so a few months before you pack your
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| themselves to very little start up
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| | job in, apply for a loan based on your
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| capital because the main selling point is
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| | salary. However, make sure that you can
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| the owner's skills and knowledge, for
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| | comfortably meet the repayments. There is
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| example consultants, web designers, PR
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| | no grace period; you will be expected to
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| specialists. Businesses which require
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| | pay back immediately, so your business
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| stock holding, plant and equipment and
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| | will have to start earning very
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| other investment, face the real challenge
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| | quickly.The alternative is a business
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| of getting their start up finance
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| | line of credit facility. There is no
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| together.So what sources can you tap into
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| | fixed repayment date, although they will
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| to ensure your business gets off to a
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| | be for periods from 6 to 12 months, and
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| solid start?Your SavingsThe first port of
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| | all you have to do is ensure that you
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| call! If you have been in employment for
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| | keep within the overdraft limit. You will
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| some time then before going it alone you
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| | have to write a business plan to present
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| should hopefully have some spare cash
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| | to the Bank which outlines your idea and
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| behind you. Whether this be in the form
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| | the business.Mortgage or Equity
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| of cash in a savings account or shares
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| | ReleaseWith the way house prices have
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| and unit trusts, this is a good start to
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| | been increasing over the last few years,
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| your fund raising exercise.You can be
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| | the vast majority of people now have
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| more focused in saving cash if you have
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| | substantial equity in their homes. The
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| had the goal of setting up your own
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| | cheaper alternative to a Bank overdraft
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| business for awhile. Knowing you need to
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| | or loan is a mortgage. The interest rate
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| save to get your business off the ground
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| | is lower and, as the repayments are
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| will make sure you don't spend your
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| | spread over a longer period, the monthly
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| future nest egg on unnecessary items.
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| | repayment is less (although you will end
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| Whilst a new Plasma TV or the latest DVD
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| | up paying more interest in the long
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| Recorder may seem to be an essential
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| | run).The disadvantage of raising cash
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| purchase, knowing that you have a
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| | this way is that your home is potentially
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| business to set up in the future will be
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| | at risk. If meeting the monthly
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| sufficient a deterrent to keep the cheque
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| | repayments is dependent on what the
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| book firmly locked away!Keep Your JobSome
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| | business can generate then a slow start
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| business owners are lucky enough that
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| | could cause cash problems. So be very
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| during the early days of the business
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| | sure you can meet the repayments even
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| they can keep the day job while working
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| | during a lean period.Credit CardsIf you
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| on the business during the evenings and
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| | haven't got any savings, can't get
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| weekends. This has two benefits. Firstly,
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| | support from family or friends, or a Bank
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| they are still earning thereby allowing
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| | loan or mortgage, then there are your
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| more time to build up a cash reserve.
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| | credit cards! However, whilst it's easy
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| Secondly, it's an opportunity to test out
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| | to draw down on your card, be wary!
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| the business to make sure there is a
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| | Credit cards are the most expensive form
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| market.Make sure that you can
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| | of debt.They are ideal because all you
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| realistically keep both balls in the air
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| | may have to do is pay the minimum amount
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| at the same time otherwise you will end
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| | but card debt, as most people have found
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| up doing justice to neither your job or
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| | out, can be a long term burden. But, if
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| your new business. The support of your
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| | you need a cash lump sum to kick start
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| family is also essential if you are to
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| | the business and you know you can pay it
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| follow this strategy. They have to accept
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| | off within a few months, then it's an
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| that what used to be 'family time' may
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| | alternative source of finance worth
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| have to take a back seat until you decide
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| | considering, if somewhat
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| to concentrate on the business full
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| | unorthodox!Business GrantsBusiness grants
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| time.Family and FriendsThese can be a
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| | are available for specific industries,
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| useful source of finance for any start
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| | sectors and reasons. Grant providers will
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| up. If you have harboured ambitions to
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| | usually only give a portion of your
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| run your business for some time, then
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| | requirement, so they cannot be used to
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| many of your family and friends are
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| | totally finance a start up. However, they
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| already likely to know about your idea.
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| | can be useful in filling a funding
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| You should therefore have an indication
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| | gap.Business AngelsA popular way to fund
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| who is for it and who is against it.If
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| | a business are Business Angels. These are
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| you haven't shared your secret desire
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| | people, usually retired or successful
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| then it's time to be slightly devious! If
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| | business people in their own right, who
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| you are in the early planning stages
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| | are looking for opportunities to invest
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| start drip feeding your ideas to key
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| | in new businesses.In exchange for an
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| people whom you think are likely to
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| | investment they will typically look for a
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| support you. Tell them your ideas, share
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| | shareholding in the business and some
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| your ambitions and goals and on a regular
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| | hands-on involvement. They will have a
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| basis update them with your progress. The
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| | vast business experience and so are
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| plan is to get them sold on you and your
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| | useful people to have on board. However,
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| future business at an early stage.Once
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| | you will have to accept an element of
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| you get to the point where you are ready
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| | loss of control but that needs to be
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| to start asking for contributions hold an
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| | balanced against your desire for
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| Investor Evening. Prepare a presentation
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| | funding.Getting finance for your new
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| outlining your plans, the business, the
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| | business can be a challenge but there are
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| market etc. Show the potential investors
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| | a number of avenues to explore and so
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| what their return will be in recognition
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| | with dedication and focus you could soon
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| for supporting you.Invite as many people
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| | be on your way to launching your own
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| as you can and promise an interesting and
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| | small business.Small Business Success is
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| fun evening, Be bold at the very start;
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| | a resource dedicated to helping small
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| tell them exactly why they are there, so
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| | business owners be more successful. If
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| there are no misunderstandings. After you
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| | you are looking for a regular flow of
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| have done your presentation gather all
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| | ideas and tips then subscribe to Small
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| the names of the people who may want more
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| | Business Success a free newsletter,
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| information or even a one-to-one with
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| | which provides you with quick tips, ideas
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| you.Whilst this group are people who know
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| | and articles.
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| you and so are more likely to trust you,
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