where do I start?

[raven147]

I just started a recruitment agency in the last few eeks, and would like to know what my options are with regard to getting start-up finance. I just recntly finished a degree in accounting, and have no real work experience, so im quite wet behind the ears. someone suggested taking out a life assurance policy to act as a source of surety when i get a loan eventually, but at the moment, im not sure as to how and where to go to get start up funding. I need start up costs for things such as stationery, advertising and travelling to meet clients. any suggestions?

[eitai2001]

If you can, best place to get the smaller start up costs are family and friends. If you think you have a good proposal, you can also approach other people to finance you for a percentage of the company or find a partner. Trust me ... I know how you feel.

[garthu]

Have to agree with eitai2001. Try keep it "in house". The banks, financers etc at the moment probably wont even consider as there is no collateral at mo by sounds. It doesn't sound like you dont need much.. keep it close. The major guys are very unforgiving in first giving it but also in getting it back. Slow start, build big worked well for me (previous business). Going big to start with... i'm paying now!

[garthu]

after thought... DON'T use loan sharks... easy money loads of trouble

[Dave A]

someone suggested taking out a life assurance policy to act as a source of surety when i get a loan eventually

They didn't happen to be selling life assurance products by any chance?

I have serious reservations about this being the optimal way to build collateral.