Finding Funding to Open a Barber Shop

Having calculated how much money is needed to launch the barbers, it is time to work out where the new business finance will come from. The type of funding will depend on the amount needed and what it will be used for.

Some people will use their own savings or personal borrowings as barbers business funding. This may be the only option for those unable to secure a new business loan from a bank or capture venture capital from outside investors. In fact, it is usually very difficult to attract additional funding unless the owner has backed the business with some of their own money.

Use savings or raise funds by remortgaging, getting an unsecured loan, borrowing on credit cards, selling possessions or borrowing from friends and family, but think carefully before borrowing to finance the business and always match the financing to what the business needs.

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