Most small business begin with owner their own savings. Even banks would be unprepared to lend to someone who is unwilling to risl some of their own money. If the woner does not have enough savigns, they could:
Remortgage their house
Sell some personal possessions
Borrow from family and friends
Using personal savings gives the owner 100% control and 100% fo the profits. The downside is that, if the business fails, the owner could loose everything, both business and personal assests
2007-10-07
23:52:33
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4 answers
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asked by
Anonymous
in
Business & Finance
➔ Personal Finance
risk*
owner*
Savings*
2007-10-07
23:54:46 ·
update #1