It appears that more entrepreneurs are funding their businesses with personal savings according to new research from the Global Entrepreneurship Monitor shared by Sir Richard Branson, at Virgin. With the advent of the Internet and social media, fewer resources are needed to start and maintain a business than just few years ago.
Crowd funding (16%) is a far second in raising funds for business, followed by bank loans (11%), family and friends (8%), Angel Investors (8%), and Venture Capital (1%). The more traditional business financing sources seem to be decreasing in demand. And, if all fails, companies like Vital Cash Flow will purchase a small percentage of your sales in advance to provide working capital and referrals for businesses six months or older.
Here’s link to the entire article at https://www.virgin.com/entrepreneur/how-are-entrepreneurs-funding-their-businesses.