Funding your Business Guide

Introduction The biggest barrier people face to starting their business is how to get the capital. That injection of funds is essential if you need to purchase equipment, materials or fund your initial operating costs such as phone, fuel and software licences. If you have started your business plan you will have covered this in your financial forecast. Some people have an idealistic plan of what equipment they want and whilst that ‘branded’ tool may be the best in the market, if you are struggling to raise the capital for it, consider alternative options. Unless it’s a grant, in all cases that money must be repaid and will come from the bottom line. Cashflow is crucial at the start of a business so be mindful of your planned purchases. Be brutal with this process as it could save you thousands of pounds. Prioritise what you need and do without until the business gets growing. In this guide we will set out the common ways individuals raise funds for their business.

Around 35% of women didn’t start their business due to insufficient funds. *

* source www.money.co.uk/business/business-statistics