Scaling a new venture will take you through some exciting milestones: your first sale, your first paid employee, your first physical location. As your business grows, you may find yourself making plans to expand your inventory, launch a new product line, or even take on a new geographic market or customer segment.
But growth comes with costs, and your business’s initial capital can get you far. But there are likely going to be cases where you’ll need some fresh financing.
Planning may be the difference between successfully scaling to the next profitable level—or growing your way into an unexpected bankruptcy. Planning involves knowing your options for business financing, should you need it.
What is business financing?
Business financing involves securing capital from third-party sources to fund a new or existing company. It is useful for seasonal gaps in sales, unanticipated…
