Small Business Funding – Reach into your own #%&! pockets!

Every business has start-up costs and your new home-based business will be no different. As the old saying goes “You need money to make money”…You know that’s right brother!

So where do you get the money you need to start a home business?

The simplest way for home business owners to get the money they need is from the principal owner’s own pockets..that means YOU!

Like myself, many work at home entrepreneurs simply use their own savings to fund their businesses, using money from personal resources such as…

· Savings
· Personal Investments
· Credit Card Advance
· Sale of Assets
· Second Mortgage Loan
· Borrowing from Relatives (well maybe not)

…are all ways to finance a small business start-up using your own funds.

The alternative to funding it yourself is to apply for a small business loan. The biggest issue there is that unless you have sufficient collateral, or any related experience in your field of business, you may not qualify for this type of loan.

Luckily, the amount of cash you’ll need to start-up your new home business will likely not be so much that it prevents you from raising the start-up cash on your own.


Well in general, you should be thinking SMALL, or rather MICRO, home-business.

That mind-set will help keep the amount of your start-up funds to a minimum.

Many people will have GRAND visions and will want to blow their whole wad right out of the gate. Now that might work on a rare occassion, but I think it’s wiser to start smaller than you may think and then grow at a financially responsible pace. One that doesn’t have you putting a third mortgage on the house or cashing in your 401K. That’s just stupid!

Keeping your overhead low is key, which will be easy since you’re working from home, and making sure you have the adequate funds necessary will also be vital to your success. You don’t want to run out of money before you’ve had enough time to fully implement your plan. That would really suck!

Some recommend having enough cash to keep your business up and running for at least 6-months. My personal opinion is that your plan should include enough funds to keep your business afloat for the first year.

Proper planning is essential and calculating your expenses is crucial in order to determine how much money you will need to finance your new “Micro” business.

You should only budget what is absolutely necessary for you to start-up your business. Be reasonable and don’t budget for unnecessary or luxury items.

Now you definitely don’t want to skimp on the necessary items, because they will make your job easier, but there’s no need for a flat screen monitor if it’s going to cost you more or a $150 phone when a $50 one does the job just fine.

When it comes to funding your home business you should plan carefully, be realistic and do not jeopardize your personal finances. You still have to maintain an acceptable quality of life.
Ya got it mate?