Any business needs finances to get set up, maintain and expand. The finances required for each business is different because of the difference in the size, nature and trade of each business.
Depending on the size of the business, there could be a variety of easy methods to financing business growth, without the assistance of any loans taken from the banks. The first option has always remained the closest of acquaintances and the family and kith and kin. Who else could you turn to, in case of crisis? This is a very viable and workable option, because history has it that a whole lot of businesses have come up in a similar way, and now progressed to huge international brands and industry big wigs. Another excellent option to get some capital is by considering the option of trading a service for the goods, or bartering a service or even a skill, for instance the skill of managing accounts in exchange for the goods.
The major part of the cost of maintaining any business surely is the maintenance of the employees or the payment of salaries to the staff. One wise decision in this regard is out sourcing, because transfer of the jobs which can be done through telecommuting or online through the internet can always be easily off loaded to other nations, where the cost of labour is quite cheap when compared to the cost of employing a full time staff on pay roll. The book keeping, customer care support, invoicing etc can easily be out sourced to other nations, without any hassles.
There is always the problem of waiting for the payments to get cleared from the buyers or the clients. They usually take around 30 to even 60 days to clear the payments on the invoices. This waiting period without any payment or income can become quite difficult or demanding for the businesses, especially the small businesses or the newly set up businesses. There are certain firms which are ready to buy the out standing invoices from you and then pay you the money out standing on the invoice immediately, while they in turn wait for your client to pay them. This is called as the invoice factoring and can be quite helpful and should be taken advantage of.
The state government and the federal government can both assist in your business if you let them to. Apply for research grants and venture capitals from these federal and the state governments.