Running a small business; where do you go to finance your business?
by Wade Glass and Gareth Hoole When all likely contingencies have been anticipated, the need for capital is likely to be greater than the available resources. This means that you will probably have to seek external sources of finance and here we examine some of the possibilities available to you. The most obvious answer is to a bank and in New Zealand the entrepreneur has an abundance of banking products to choose from. But banks have rules and lending criteria that need to be satisfied before they will make an advance. They also have a curious desire to be repaid and thus the aspiring entrepreneur must demonstrate an ability to service the debt to the bank's satisfaction and to provide satisfactory security so the bank will get its money in the event of a default.
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