Jun 18th, 2015
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Financing the new enterpriseOne of the primary goals of starting a business is to make money. However, it takes an undeniable amount of capital in order to properly launch and sustain a business. This amount of money for a given venture has to do with the unique goals and needs of the entrepreneur. It is crucial for a new business to develop resources and additional means to obtain further capital because without proper financing, a new enterprise may find it extremely difficult to compete with an already established competition. In addition, the lack of funding may also lead to a company closing or even worse, bankruptcy. It is important to consider the pros and cons of different financial sources that are available in order to make an effective educated decision to fund a startup.BootstrappingThis term refers to a company owner who decides to solely fund their business on their own without depending on outside sources for financial support. In this type of funding, the entrepreneur often evaluates all of his/her assets, including personal savings accounts, credit cards, equity in real estate, retirement accounts, vehicles, recreational equipment, and even collectables. By assessing their personal assets, a business owner can easily generate cash if they decide to sell their property. They can also use these possessions as collateral for a future loan. The more money that an entrepreneur uses on their own for their business, the more likely they will acquire capital

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