Sources of finance available to an entrepreneur

A business is funded by different sources of finance in order to start it up and keep it going. Successful entrepreneurs usually use a combination of available sources of finance to fund their business venture. Some of the sources of finance include:

• personal savings

• investors (people who put money into the business for a share of the profits)

• sale of an asset (like a house or a car)

• bank loan

• overdraft

• friends/family

Also, designated agencies that specialise in offering advice and assistance to entrepreneurs include:

• Northern Ireland Direct Government Services - www.nidirect.gov.uk

• Department for the Economy - www.economy-ni.gov.uk

• Invest NI - www.investni.com

• NI Business Info - www.nibusinessinfo.co.uk

• The Prince's Trust - www.princes-trust.org.uk

• Enterprise Northern Ireland - www.enterpriseni.com