Money is a serious business

Don't make the mistake of starting up or buying a business without enough money to make it work – you're asking to fail. Before you start, talk to a qualified accountant and carefully work out exactly what funds you need.

Always prepare

Before you approach any organisation, or potential investor/equity partner, make sure your business plan outlines how the finance provided will be used to develop your business.

Make sure you follow the guidelines below.

1. Carefully consider how you'll service a loan.
2. Make sure your business is capable of paying off a loan, and that you're not creating future problems for yourself.
3. When considering investors, think about the terms of the investment.

1. Will they make your business profitable?
2. Will they affect the management and control of the business?
3. If the answer is 'yes', do you accept it?

There are various finance options available to you. The options include:

• bootstrapping (getting finance from sources other than through loans)
• bank loans
• equity partnerships (business angels and venture capitalists).

Choosing the right option gets your business off to a good start.

Find out more in the Finance options section of the Toolbox.