Second to deciding what type of business venture you are going to embark on, the most important task for a small business owner is deciding where the funding for the startup is going to come from.
choose to launch their startup through self-financing, meaning the funding comes from your own pocket - whether that be a personal savings account, credit card line of credit, second mortgage or a loan from a family member or friend.
Another route than many entrepreneurs take is obtaining a loan through an SBA-backed or private agency, which will often extend capital in the amount of a few hundred dollars to $25,000. You may qualify for a loan from a niche or specialty market, especially if you are a minority- or women-owned.
Before incorporating a business, an entrepreneur
should be sure to have a stable source of funding. The business should be far enough beyond its initial startup days and should be securing its own capital. Additionally, the debt incurred from startup shouldn't be so hefty that a business is crippled by it.
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