Bootstrapping your start-up: the advantages of self-funding a new business
Whether you’re in the idea phase of starting a business or you’re in the early growth stage, you’re probably already thinking about finances. Launching and operating a business requires money, and how you choose to fund your venture requires thoughtful consideration of your options. Bootstrapping your start-up
Your choices include seeking investors, securing a bank loan, or bootstrapping. Bootstrapping, if you can do it, means you are self-funding your startup using personal finances and company revenues. While bootstrapping requires discipline, hard work, and dedication, the advantages are very appealing: you can avoid interest payments on a loan, retain creative control of your business and preserve your equity in the company.