When it comes to starting a new business or upgrading an existing one, what is your source of money. Do you borrow from banks or prefer asking friends and family?
How do you raise money?
- Thread starter Henrywrites
- Start date
Whenever it's all about raising money for my business, I will never borrow from the bank. I prefer to have my business money saved up. I might be open to get loan from my family but never banks.
I have used the bank sector to raise money once for my business and they were really helpful. I was able to get a loan of $50,0000 for my business investment on real estate.
This is a point that you made. Sometimes, borrowing from banks may have the dark sides to it and that is what we should put into considerations as well.
I started my first business when I was 20, I raised money from friends and family. My business collapsed but I did not encounter any financial issues because I did not have to pay back my friends and family. I started my second business with a bank loan
- Messages
- 263
- Highlights
- 0
- Reaction score
- 38
- Points
- 364
- Location
- Sydney, Australia
- Peak Coin
- 0.000000¢
- DB Transfer
- 0.000000¢
I save from my clients. It’s a business, after all.
I have multiple investments that's giving me money more than I need. For, any need to start a new business, all I need to do would be pull out something from my investment and I should have enough cash to start the new business.
