Understanding the basics of raising capital is a vital business skill. Whether you are looking to start a new business or grow your existing business, one thing is certain - you are going to need money.
You must consider many factors when exploring funding options for your business, including:
- the amount of finance required
- the nature of your project
- your stage of business development (i.e. a start-up or an established business).
The first step in securing funding is to draft a business plan. Whether you are starting a business or looking to grow your existing business, your business plan is the key document that guides your future operations. It also makes your business goals clear to potential investors or lenders and explains how you are going to spend