University of Florida professors create a 10-step guide to starting a business
Two established economists and University of Florida professors have released a 10-step guide to starting a small business. Their document can be found here:
http://edis.ifas.ufl.edu/FE571
Unfortunately the two professors, Hank Cothran and Allen Wysocki, spent very little time focusing on small business finance considerations. They basically devoted step 9 of 10 to a brief overview of sources for financing a new business.
As usual, they suggested using personal funds, loans from family and/or friends and small business loans. Here's what they thought of venture capital firms and their relation to small businesses:
"However, venture capital firms and insurance companies are typically not useful for owners of small businesses."
In other words, when you're starting up, use your own money or the bank's money, and if you have rich friends hit them up too.
http://edis.ifas.ufl.edu/FE571
Unfortunately the two professors, Hank Cothran and Allen Wysocki, spent very little time focusing on small business finance considerations. They basically devoted step 9 of 10 to a brief overview of sources for financing a new business.
As usual, they suggested using personal funds, loans from family and/or friends and small business loans. Here's what they thought of venture capital firms and their relation to small businesses:
"However, venture capital firms and insurance companies are typically not useful for owners of small businesses."
In other words, when you're starting up, use your own money or the bank's money, and if you have rich friends hit them up too.
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