- Self-funding causes external financiers to trust your business idea because of your confidence in your start-up and the risks you are willing to take for it – which in turn leads to external financing.
- Self-funding is essential as a buffer in order to deal with potential setbacks.
- Should be between 20% and 40% of your project in the form of cash or in-kind contributions, depending on your sector.
- Government tax support is available in the form of Notional Interest Deduction.
One of the quickest and easiest ways to start up is to use your own funds, if you have them.