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Both new and expanding businesses need money to fund their projects. Your business must get funding for each item it requires to operate: working capital, ongoing expenses, tools, equipment, buildings, patents, etc. Once you’ve established your needs, you must determine what sources of funding are available to meet them.
Both new and expanding businesses need money to fund their projects. Your business must get funding for each item it requires to operate: working capital, ongoing expenses, tools, equipment, buildings, patents, etc. Once you've established your needs, you must determine what sources of funding are available to meet them.
Learn about the different types of financing available and choose the one best suited to your projects. You can finance your business through loans, equity and government programs.
A portion of your business can be financed with loans. These can be used to finance your accounts receivable, inventories and equipment purchases or to buy or improve real property. A variety of loans are available:
Equity financing is provided in part by business principals (owners). Businesses may also approach private investors and investment companies to find the capital they require to grow. Equity can be used by new businesses to fund working capital and start-up costs and by companies in growth stages of development for acquisitions or new market development.
Provincial and federal governments have a variety of programs in place to stimulate entrepreneurship and help businesses succeed.
Visit your federal and provincial government websites to find out what options are available to you.
There is a source of financing for every business financing need, so get researching!
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