Using your money
Many new business owners use their own money to provide a proportion of their startup funding – in a large numbers of cases it forms the bulk of the initial funding.
Investing in your own business is important – it not only provides funds, but can also help you attract funding; you can’t really expect others to invest in your business if you’re not willing to do so yourself.
You may be able to fund your startup through savings, a redundancy payment, an inheritance, or by using your retirement funds. If you’ve got any valuable assets, such as jewellery, or a luxury watch or car, you could get an asset-based loan. Once an item has been valued and a loan agreed, the money can be with you within a day or two. Asset-based loans are usually for terms of six months.