The lifeblood of every company is capital; consequently, the greatest challenge for an entrepreneur is funding. From statics provided by Inc magazine, 3.8% of funding are Government grants, 6.5% represents Venture capitalists, 7.5% are Close friends, 7.7% Angel investors, 11.9% Business acquaintances, Family represents 20.9, Credit card 34.0%, bank loan being the second highest with a 51.8% and the most used source of funds by entrepreneurs are from personal savings with 67.2%. Only 13.6% have not used finance.

read more