Chapter Nine

Where to find the money you need

Every new business needs funding to some extent. Even if you are simply going to sell your time, work from home and use the family car to get to clients’ premises, you will have a cash flow gap to fill.

It is unusual to be paid in advance for the work that you do. If you supply businesses you may have to wait 30, 60 and often 90 days before receiving payment. While you are waiting to be paid, you still have your day-to-day living expenses to cover, the car to run and the mortgage. You probably also have some specific business expenses to find money for as well.

You also need to have some rainy day money put to one side for the inevitable month when things go wrong or sales are slow. Just as a financial ...

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