Courtesy of Small Biz Trends:
Most entrepreneurs believe a bunch of myths about financing new companies that hinder their efforts to raise money. Here are a few:
Myth 1: It takes a lot of money to finance a new business. Not true. The typical start-up only requires about $25,000 to get going. The successful entrepreneurs who don’t […]
For instance, Google, Apple, Domino’s, Under Armour and many more weren’t initially funded by big-time angel investors or venture capitalists. They were funded by the founding entrepreneur(s) and often creatively so. Visit the link below to explore how these now well-known businesses initially got on their feet:
How They Did It!
Courtesy of PowerHomeBiz & National Small Business Association:
Credit cards - 44%
Earnings of the business - 43%
Bank loan - 29%
Private loan (friends or family) - 22%
Vendor credit - 18%
Leasing - 7%
Small Business Administration loan - 6%
Private placement of debt - 4%
Selling/pledging of accounts receivables - 3%
Private placement of stock - 1%
