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What are the best ways to finance a new business?
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[QUOTE="Richee84, post: 254304, member: 42448"] There are different ways to fund our business from the idea stage to making it a reality. The following above are different ways in which a new business can be financed or funded; Funding through personal saving; The simplest form and easiest way to finance a business is to fund it through ones personal savings. With Personal savings, the owner have control over the fund and can be easily accessible when the need arise. Finance through the help of family or friends; This is also another safest form of financing business apart from the person personal savings. Money or fund collected from family member or friends will not have stringent procedures to be follow like other financial institutions. At times money been collected from family members or friend end up not been pay back and the penalty of not paying on time will not be there. Grant; This is a form of assistant either from private individual, government, and international organisation to support newly start up business. It is also a very good way to finance business as the money is not refundable but it always come with both hard work and luck to be successful qualified for any grant. Loan; This is the most risky of them all as it come with much more higher interest and unfavourable conditions before the loan can be approve. [/QUOTE]
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What are the best ways to finance a new business?
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