Enterprise Nation

If you do need funds to get up and running with your home business, here are a few options to consider.

Business borrowings
Still the most popular place to turn for start-up funds is to friends and family. If you do, consider drawing up an agreement that outlines the deal and a payback schedule.

Outside of friends and family, here's where you can look for money:

• Credit cards – probably not the most often recommended choice but credit cards have helped many an entrepreneur get started!
• The bank – can the bank lend to you? Be prepared to talk through your business plan and you may need to provide some form of security against a loan.
• Grants  - are there any public sector schemes in your area that offer money or equipment for start-ups? Make enquiries with your local Business Link or council, to find out more.
• Investors – this is probably more relevant when you decide to grow the business as investors like to see a track record and a date for their financial exit.

And don’t forget self-funding. Why not keep the day job and build your home business with your own earnings. That way, you never have to pay anyone back.