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South Carolina Business
Access to Capital and Funding
Funding is the fuel on which a business runs making financial flexibility a key component of success. You need to have enough cash flow and access to enough forms of payment to be able to purchase equipment and supplies from your vendors whenever necessary.
Are You Ready for Funding?
- Develop a Business Plan: Create a written document describing your business, including type of business and legal form, annual sales, number of employees, length of time in business and the ownership structure.
- Determine Funding Needs: Identify all startup expenses, estimate the costs of your business for at least the first several months and create a realistic startup budget and cash flow model.
Funding for Growth and Expansion?
- Expansion: When a small business outgrows its current location, or there is a immediate demand for new goods or services, expansion becomes an option. A new location, product development and marketing research, new services and additional staff can be financed with business funding.