What would you do as the owner of the small company that is long on ambition and very short of cash?

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

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If you are a small business owner who lacks funds, the only real choice is to try to find investors.  In order to do that, you are going to need to start by making a business plan.  In this regard, the point of the business plan is to convince potential investors that your business is going to be profitable at some point in the near future.  You will need to clearly lay out how you are going to make this happen.

Once you have a business plan in hand, you need to go out and find people who will invest.  Who you will target will depend to some degree on how much money you need.  If the amount you need is not tremendously high, you could see if family and friends will be willing to invest in your enterprise.  This could be at least a little bit problematic because personal connections can be strained by business dealings.  It is also possible to try to get a bank to fund you.  You could present your business plan to them and get them to loan you money.  Finally, these days, there are internet sites on which you can solicit investors.

None of this is going to be easy, but hopefully if you are “long on ambition” you can make it happen. 

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