Advice on business financing / trade credit options?
| Author | Message |
|---|---|
|
Written on: 12.11.2009 [22:23]
|
|
|
Rhys
Rhys
Topic creator
Posts: 1
|
My friend has told me that in order to set up my own business I'll need business financing / trade credit. I'm only planning on opening a small, 'kitchen sink' company... is business financing necessary? Or is a small personal loan the better deal? |
|
Written on: 15.11.2009 [09:48]
|
|
|
Chloe
Chloe
Posts: 4
|
You should always always ALWAYS make sure that any loans you take out for your business, however small your business is, are separate from your personal finances. If you get into difficulties repaying your business loan, there is a chance your business could go bust. If you take out a personal loan for your business and it gets into difficulty, you could face personal bankruptcy! What kind of sum / loan were you considering? Some organisations offer start-up capital for small businesses... |
| Also very interesting: | |
