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BUSN 491 week 8 response 2

I must respond to what is below in 250-300 words in APA format.

Bear in mind that, “[e]very year, hundreds of thousands of small businesses trying to enter the goods markets face severe financial difficulties, where banks are unwilling to finance their activities,” (Biger & Sher, 2017, p. 89). Bootstrapping financing is a great place to start in examining funding strategies, since it involves “creative ways to stretch existing capital resources as far as they can go,” (Mariotti & Glackin, 2016, p. 332). Bank loans are an easy way to get funding for a business and they typically require collateral. Debt factoring, also known as invoice or accounts receivable factoring, helps with cash flow of businesses. Cash is received from the factor sooner than waiting on a customer to pay their invoice. Angel investors are a good alternative when a business does not need a ton of financing, but does not meet venture capitalist requirements.

The process of business incubators helps start-ups succeed through financing with equity, which can include selling stock to raise capital. Venture capitalists typically fund new companies that have a potential for high profit. While the SBA does not provide grants, they do help businesses find venture capitalists and get loans. Sometimes economic development grants are offered to small businesses. In general, some federally supported investment companies provide debt or equity for companies. Kickstarter is a large platform that helps bring business ideas to life. They provide resources and support to various types of businesses. My business plan for a small gym required $15k in capital and a $10,000 bank loan. Considering the Biblical worldview, Romans 13:8 sheds some light on debt financing as it reveals, “[l]et no debt remain outstanding, except the continuing debt to love one another, for whoever loves others has fulfilled the law,” (NIV).

Biger, N., & Sher, N. (2017). New financial tools for small businesses: A commitment mechanism to secure funding. The Journal of Applied Business and Economics, 19(1), 89-106. Retrieved from…

Mariotti, S., & Glackin, C. (2016). Entrepreneurship: Starting and Operating a Small Business (4th ed.). United States: Pearson Education, Inc.

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