Identifying your financing needs and sources is a critical step on your road to success.
Determine your costs
- Working capital
- Computer equipment
Identify your sources of financing
Before deciding on the financing package for your business, it is recommended you learn about all types of financing open to you in order to select the one best suited to your plans. Financing options include loans, shareholder equity and government programs.
Once you have established your needs, you should determine which source of financing can best address each one. This is known as a “financing package” and is often presented as a chart.
- Personal savings
- Family or friends
- Business partners
- Private investors