- 06 Jun
The Start Ups With Funding Restrictions Used Either Overdraft Or Family Money - Not Invoice Finance
In our recent survey of 100 new start up businesses we found that 31% of our sample said that they couldn't raise all the funding that they wanted initially.
74% of those start ups that couldn't raise enough funding initially were using bank overdraft whilst the remaining 26% were either using their own or family money. None of these respondents that were unable to raise enough funding were using invoice finance or had even considered it as an option.
In contrast, the small number of respondents that used invoice finance to fund their new start up business (2% of our sample) said that they were able to raise all the funding that they needed initially through invoice finance.