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How can I fund a new business?

On Behalf of | Sep 14, 2019 | Firm News

Many people in Delaware dream of starting a new business. Of course, businesses usually require some form of capital in order to get started. The saying is “you need to spend money to make money,” but if you have no money to spend this can be a difficult to cycle to start. You may dream of attracting an angel investor, but most investors are not going to look at a new business unless it has demonstrated profitability. In the meantime, you are going to have to come up with something else. According to Forbes, there are four very realistic ways to go about funding your in your business.

The first is probably the most obvious: do it yourself. You may need to use collateral in order to get money to get your vision off the ground. If you own any property, this is the obvious first place to start. However, before you go around putting your house on the line, it is important that you keep an eye on your bottom line ensure that your dream is profitable.

The second is to borrow it from other sources. The first sources you should look toward are any friends or family who may be interested. There is also the option of applying for a small business loan, though this can definitely be a challenge. You will need to have a very thorough business plan and be prepared for a lot of competition.

And, finally, there is the aforementioned angel investor. This is probably the least likely of all of the options, but it does occur. If you are looking to attract an angel investor, you are most likely to find one through networking.