smallbusiness.co.uk: Helping your business think big

1. Treat negotiating for money with the same planning and thought as making a sale.

2. Be very certain that you ask for the right amount of money; it is very difficult to go round a second time to ask for more.

3. It can be difficult to raise less than £1 million.

4. Overdrafts are for the shorter term; long-term finance is provided by loans or selling shares, if you have a company.

5. As a rule of thumb, you will need to invest as much as an outside investor or perhaps half as much. Rare exceptions have managed to put in a much smaller proportion than an outside investor and still retain control.

6. Securing loans on your house or giving personal guarantees is a major step. Do not take it lightly or without discussing it with your family.

7. Money can be raised from banks, private individuals and companies, venture capital funds, charities or local authorities.

8. Make your presentation carefully.

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