‘How much must I borrow to start a business?

‘How much must I borrow to start a business?’

Question: I have been working for a good number of years and have come to realize that most of my retirement will have to be funded by me and not my employer or the government. As a consequence, I am now planning on setting up my own business that I hope will be the source of my retirement income. I know that I should not set up a business upon retirement as doing so may already be too late. I also agree that I should start small but think big. But because I don’t exactly have overflowing cash, I think I would need to borrow money. Up to how much of the needed start-up capital do you think I should borrow? Is it also wise to get a loan against my house and use the proceeds as the initial capital for my business?—Retirement-conscious employee

Answer: A great many of the training participants at ourEnRich©training runs have the same aspiration—to run their own business. And perhaps an equal number of them have the same dilemma—how to fund the business given limited resources.

Source: http://business.inquirer.net/80402/how-much-must-i-borrow-to-start-a-business