The right start-up finance gives your new business a solid financial base, ensuring you have the funding to cover your short-term needs and to make the most of opportunities to grow. Working out how to finance your start-up begins with knowing how much money you are going to need and where to find it.
Draw up a budget based on your business plan, including forecasts for sales and expenditure, and what your cash position will be each month. Do include capital costs, such as purchasing equipment, and most importantly: be realistic. Plan for sales being lower and later than you hope, getting paid may take longer and costs can be higher. And don’t forget VAT!