Essay about Trade Union
Funding is the most single important issue for any kind of start-up business. Funds can be collected from different sources such as debt and equity. It is easier to get money from individuals or groups of individuals than from banks or institution (Bazerman and Moore, 2012). Here are some sources for funding your small business is given. 1. Personal savings
Personal funding is the main source of fund for any business. People generally start their business from their home then go outside. Again no lenders will provide 100% fund for business. Personal funding ensures our control over our business. There are few businesses which are entirely funded by parties other than the entrepreneur (Chen, C. 2000). This system has got disadvantage too because risks are involved as you are putting your assets on the line. While doing so we should evaluate the risks involved and take correct decision.
2. Family and friends
The first out of personal funding source is to take help from family and friends. It is a very common practice of funding. As there are risks in business they may want written agreement of the amount borrowed, the interest rate and the payment method.
Today’s business world is impossible without banks. Now they play the biggest role for funding any start-up. Bank gives loans to credit worthy customer based on credit history of the borrower. Without having