Choose the right finance when starting up
Every new business needs money when starting up.
Before the first sale is made, the majority of businesses will need to:
- buy equipment
- establish the workplace
- meet marketing costs
Once you're trading, you'll need cash to pay the bills and keep the business going.
There are a range of financing options when starting up, and choosing the right ones for your needs is essential.
- use your own money
- borrow from banks
- borrow from family and friends
- attract outside investors
Grants and government support may also be available.
Most businesses use a combination of these alternatives, according to their specific needs and circumstances.
For more information please see Starting a business: Useful links and information.