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Your small businesses usually start with an idea in your mind long time ago. You want to make those business idea comes to reality that generate routine income to you.
You have the product that you are going to sell, you know how to deliver your service to your customer. You have determined the office and understand on how you will market your business. Everything is in place. All of the sudden you find that your finance situation is hold you back to pursue your business dream.
Finding the financial support is always difficult for newly start business. Some financial institution may lend the money to newly start business, however the amount usually is only small as the reputation of the borrower are still in question. The selling point for the borrower is usually their personal skill that actually still not proven in the real business that manage by them self. Therefore the lender will think twice to give cash as requested. On this situation you may able to get cash you want if you can persuade the lender about the business that will give the profit. However, the lenders have their own calculation before lend the money to you.
However, if you have strong determination regarding your business, there will be always solution to make your business financially rock solid.
Utilize your saving.
If you have been in employment for sometimes, there should be some cash on your saving. This could be in different form of source of finance that would include; shares, cash on your saving account or units of trust. These would be a good start for fund raising to finance your business. If you want to make your business run quickly then you should more focus on your cash saving….continue to part II