There are many sources to tap when securing capital for your startup business. In the absence of adequate personal savings, you may turn to conventional financing through a bank or ask a friend or family member for a loan. Angel investors offer funding for a considerable return on investment, and don’t overlook Canadian government funding.
Grants are made to start up businesses, but strict guidelines apply. First, you must sift through a substantial amount of administrative paperwork. Be prepared to submit a detailed description of your venture, including expected costs and the advantages the business offers to end users. If necessary, seek assistance in preparing your business plan. Piecing it together in a haphazard manner might result in the agency rejecting your request due to a lack of clarity.