WHERE DO START-UPS GET FINANCING?
Personal savings is the source of start-up capital for 3 out of 5 surveyed for the Small Business Barometer sponsored by Western Union Payments. The majority of the people surveyed own businesses with fewer than 20 employees and less than $500,00 in revenues.
Sources of financing include:
*Personal Savings 60%
*Personal Loan 17%
*Bank Loan 9%
*Borrowed from Family 8%
*SBA loan 2%
This survey was conducted in February 2012.