Where will the money come from to start up your business? There are many alternatives, and they all require careful planning. Look at all of your options before making a final decision. Here are some of the more common first funding options for you to consider.
1. YOUR SAVINGS ACCOUNT
The best place to go for initial start-up-capital is your own savings account. I suggest that you put fifty percent of your savings into the company for initial start-up expenses. While this may make you a bit nervous, it is by far the cheapest way to start, and it will demonstrate to others that you in your project. In addition to the blood, sweat, and tears that you’ll put into your home business, you have to be willing to invest your own money, too! After all, if you don’t have confidence in your project, why should anyone else? If you don’t have enough money in your savings account, there are other options.

2. CREDIT CARDS
Many businesses that need working capital use credit cards. I have seen businesses use $100,000 lines on multiple credit cards to get things going. These cards would be personal lines of credit that you have previously established, and you would give a personal guarantee. You can increase your credit lines if you don’t miss payments, and if you pay at least the minimum on time. You can sometimes take advantage of special promotions to get a favorable rate. Some cards offer a low interest rate- at or below the U.S. Prime rate- for six, months if you use their cash advance check service. Then the rate moves up considerably, sometimes to as high as twenty-one percent. But those six months at U.S. Prime are at a better rate than any lender will offer a new or expanding company. Use the card for the six-month period, pay it off, and move on. If you need to find some offers, watch your mail for solicitations, check the Internet, or look in business magazines for credit-card fliers.

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