Figure out your startup funding

Most businesses need some money to start — for equipment, inventory, or to cover the first lean months. Knowing how much you need and where it'll come from keeps you from running dry before you're profitable.

Do this

1. Add up your startup costs plus a few months of operating expenses.
2. List your funding sources: savings, friends/family, loans, grants, investors.
3. Be clear on exactly how you'll use the money.
4. Match the funding type to your situation — don't take on more debt than you can service.

Startup Funding Worksheet

How much do you need? One-time startup costs (equipment, licenses, deposits): $______ + Operating costs for the first 3-6 months: $______ = Total funding needed: $______

Where could it come from? • Personal savings • Friends & family • Small-business loan or line of credit (SBA-backed options exist) • Grants (check sba.gov and local programs) • Investors (for higher-growth businesses)

Lenders and investors will ask exactly how you'll use the money — have that answer ready.