There are many ways for small businesses to obtain financing.
Investors and credit are a few of the many financing options available.
Being responsible and knowing your numbers is the key to success.
What keeps business owners up at night? Ask your business owner friends and chances are at least one will tell you that making payroll is in the back of their mind on a regular basis. As companies grow, they often seek out financing to help bring stability to their balance sheets — and the right type of financing could mean the difference between certain doom and enduring success for your company.
But what is that magical form of financing? How much should you take on, when should you look for financing, and what obstacles might pop up?
Here’s some advice from four successful small business owners.
1. Weigh the costs and benefits of bringing on investors.
When business owners think about financing, they sometimes gravitate to bringing on investors. But successful companies recognize the weight of that decision.
Zach Hendrix determined that selling equity wasn’t right for his company, GreenPal, and he’s happy with his choice today. “We’re in the driver’s seat and are not held accountable to any …read more
Source:: Businessinsider – Strategy