You ask, Robert answers.
This question comes from Chris in Sacramento, CA:
“Should you ask family and friends to help fund your new start-up or business?”
Robert says: Asking family and friends for funds to start a new business (or even for an established business needs) is a good idea. A lot of families today are having trouble paying their own bills much less having any extra money to invest in your business. The best advice I can give if you do borrow money from a family or friend is to set up a payment schedule and stick to it. Hopefully they will not want any interest on their money, but if they do it should be less than a bank or credit union’s rates. Angel investors are also a good source for funding a business, but they will also demand a business plan and sometimes want a percentage of your business.
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