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Personal Financing

The provision of initial capital to the business from the personal sources of the entrepreneur is called personal financing. In other, the entrepreneur invests his personal savings into the business. Some entrepreneur even sell their sets like plot, gold jewelry in business.

An entrepreneur many use his personal cash for enterprise development which might include furniture, computer, phones and other communication systems, vehicle and the like. he may also mobilized the resources fro the members of the family, and friends. On most occasions the investors form the family may not have a legal hold on the enterprise but their support may be in the from of an informal assistance. In other words, they tend to remain as silent partners. Entrepreneur is personally liable to pay the funds raised from family and friends or informal sources.

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