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Raising money

Now that you have a business plan on paper, it’s time to think about how you’ll get the money to invest in your business. There are a variety of options to choose from, but you need to ensure you plan your budget carefully and get expert financial advice to minimise any risks. Financial sources might include equity investors, loans or venture capital schemes/government assistance.

 

Remember that anyone who gives you money, be it a bank of individual lender, will need security to ensure that you are capable of returning the money.

 

Security may be in the form of collateral, equity or various income projection statements.

 

You will need to submit a detailed business plan highlighting the profitability potential. Sometimes investors/banks may wish to check your personal financial statements to help them identify any hidden liability or pending financial commitments before they decide to give you a loan.

 

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