Financing the Small Business
Once the business plan is in place, the next step for many entrepreneurs is to take that completed “roadmap” on the “road” to find possible sources for capital. For some entrepreneurs, hitting the “folks they know”…family and friends…is step #1. I have posed this question numerous times over the years to students who took this course in a face to face format and am forever amazed at the comments received….which ranged from “I might consider”, “you bet my family would give it to me without a doubt”, to “ain’t no way I’d ask any of my friends of family”. For many business owners many is not a viable option for numerous reasons and pursuit of other opportunities are necessary.
Attached is an article which discusses borrowing from other people as well as a BRIEF listing of potential sources of funding. Review the article and pdf then I would encourage you to research various sites such as INC., Entrepreneur, the Small Business Administration website, and other relevant resources and discuss your findings in 3-4 pages. Discuss the viability of these opportunities for the typical entrepreneur. Which do you believe are good possibilities and which do you think are “long shots”. Be comprehensive with your discussion.