When you start up in business or self-employment you will need money to get under way and to keep the business going until you get paid by your customers. You will also need to cover your personal expenses until the business can support you.
There are many different sources of funding for start-ups including:
- personal savings
- money from family and friends
- bank loans and overdrafts
- equity funding from private investors
- grants and government support
Creative thinking and planning your cashflow might save you money and make it less costly than you think to start your own business.
The following guidance can help:
- business financing options - an overview
- choose the right finance when starting up
- managing business finance during the start-up phase
Managing business cashflow
Managing your cashflow is vital for business survival. To run your business effectively, you need to balance the timing and amount of your costs with those of your income.
For more information see cashflow management.
Watch Invest NI's tutorial on managing cashflow.