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So you’ve decided to start a small business. Once you’ve made the decision to begin, your next task should be to determine how to finance your small business setup. Of course, every great venture should begin with a plan, and starting a small business is no exception. We’re assuming you already have an estimate of how much the initial stages of your small business venture will cost. Your next step should be to double your initial estimate since a small business setup rarely makes money from the first day. Once you have prepared a realistic estimate of how much actual cash you will need, here are some ways to acquire that cash:

1. Cash in your nest egg - If you’ve put money away for years in order to own your very own small business, then you already have the willpower and determination to succeed which will be a vital part of the success quotient. If, however, you just couldn’t seem to save anything—all is not lost. You may have hidden nest eggs which you haven’t even considered. Did Great-Aunt Tilda leave you a stack of old dressmaking patterns? Did Uncle George have a collection of farm tractor owner’s manuals? These items, because of the advent of online auction sites, may bring you enough ready cash to finance your small business setup.

2. Friends and family - Often they are willing to provide assistance—if not cash, then services such as building of display cases or storage units, record keeping, or mail order wrapping and distribution. A technology expert such as your 9-year old computer geek son may be thrilled to design a website for you. You can even offer to pay a fee for each visitor they bring to your site. Sales from these website visits can help to finance the setup of your small business.

3. Barter – Someone out there has the skill or experience to do what you need to have done. For example, if you are opening a scrap booking supplies store, offer to provide your artistic friends with a custom-designed scrapbook of their portfolio if they will paint a mural for you on that otherwise blank wall.

4. Free – Take advantage of brochures, educational materials and seminars offered by banks, SBA, investment house personnel and insurance agents. Often they will provide free materials and links to websites. While it is not cash to help you finance your small business setup, it can provide a knowledge and experience base which will be invaluable to you in your efforts. Another source of free monies which will require more work and effort on your part is to determine if your business concept is one which would be of interest in obtaining governmental or private grant money.

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