Fund a Home Business!
Whether you’re just striking out on your own as an entrepreneur, or you’re a long-established business owner operating out of your home, you are probably dealing with the same issue: getting enough funding to keep the business up and running.
Funding, financing, liquidity, cash in the bank—whatever you want to call it, it’s the lifeblood of your business. When your home is your office, you may not have the same overhead costs as traditional brick-and-mortars, but you’ll still need money on hand to deal with all the expenses that running a business throws at you.
When first starting a home business, it’s surprising how the costs add up. You’ll quickly commit most of your nest egg to the essentials, and if a single customer payment gets held up, or one surprise expense hits your books, you’ll get into trouble. There’s a reason why one study by U.S. Bank found that cash flow mismanagement was the number one cause of small business failure.
To avoid cash flow issues—as well as to take advantage of bulk deals, spring for smart investments, and scale to meet demand—it’s imperative that you learn how to fund your home business.
Let’s walk through the process of why, how, and with what you can fund your business venture, from debt financing to grants to donations from strangers.
“ Taking on debt is a common tactic for raising funds, but you should never do so unless you need to. ”
Why would you need to fund your business?
Funding, particularly in the early stages of
