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Typically, entrepreneurs are dynamic and enthusiastic about their ideas. To be a successful entrepreneur, you need good ideas to fulfil a demand. Every entrepreneur must think about money. For the business there are some sources of funding for budding entrepreneurs. Probably less financial risk in earning start-up funds from friends and family, than in borrowing from a institute – so have look first to those sources of finance.

Task 1

A Gardening Service can be a good idea for small business of an entrepreneur. For this small business funds can be personal savings, friends and family, grants etc.

If any person uses their savings to invest in business, then the source of finance comes under the heading of personal savings. Most of entrepreneur funded with personal savings.

Friends and Family is next fund to start-up business. No one wants to get involved with a start-up company. But in case of friends and family, easy to collect and hassle free. Funds can be collected by friends and family less than £5000.

Then my third funds for gardening service will be Credit Card. this card with pre-loaded cash given by bank. For that we have to pay interest. By credit card fund can be like £5000.

Among these funds, friends and family will be best for the gardening service. Because it’s easy to collect, it can be big amount for small business, convenient, and easy to start-up for any deal.

Producing musical feeding chair for babies

Babies like attraction. A musical chair will be good attraction for most babies. Lots of funds need to start of this business. From that I decide three source of funds- Overdrafts, Personal savings, and Friends and family.

Overdrafts can be use in small business. Bank will provide overdrafts on customers demand.

Overdrafts are secured funds for business provide by bank. An interest has to pay yearly. Entrepreneur can use it any times. So overdrafts can be the good source of finance for this business.

Selling customised t-shirt, mugs and other novelty items online

People like to shop at online to save their time. If I start selling customised t-shirt, mugs and other novelty items online, like other business entrepreneurs I need to select source of funds. Funds are Angel Investor, Personal Savings, and Overdrafts.

Persons who invest in different companies at pre-mature stage to make profit and the chance to guide the company call Angel investors. In compare, business enterprise capitalist spend as a profession and in general on behalf of other investors. Angels typically invest their own funds. The investment from these angels can be from $150,000 to about $1.5 million dollars.

These angels are usually entrepreneurs who want to help out promising entrepreneurs with their own businesses. For those reason I like to rising funds by angel investor.

Starting a financial consultancy

A financial advisor known as financial consultant, they offer advice about money management. Most people come to financial consultancy firm for guidance on how to reach their long term financial goals. To open and run these business three funds can be chosen. .

Factoring is where the financial association advances the entrepreneur cash against income from the entrepreneur’s outstanding amount. Factoring is a firm, usually are paid a proportion of the invoice’s value.

Factoring is appropriate for this business. Because, this is an institute, they provide funds quickly.

Running Bed & Breakfast

For this business as an entrepreneur I can invest by debt financing, friends and family and personal savings.

The majority of new small businesses are funded with Debt Financing via institutes. Banks will provide with a loan or line of credit that comes with repayment schedule and an interest rate. Loan can be provided by type of business and demand of entrepreneur. For opening of the business debt financing could be best source for funds.

For this business like to funded with debt financing. Because don’t have to give up equity, easy to get loan, maximum banks are giving low interest rate. So debt financing is the best source of funds for the business of Bed & Breakfast.