Growing Your Business

Self-Fund Your Business or Use Other People’s Money?


Running out of money is one of the top reasons businesses fail. Using the ‘right’ money at the ‘right’ time can help you stay in business as well as accelerate your startup or growth. However, it can be tricky to know when you should self-fund your business and when you should look for sources of debt, grant or equity funding.

If you tend to default to building your business with your own savings, you’re not alone. According to a recent study by Women’s Enterprise Organizations of Canada (WEOC), 88% of women entrepreneurs feel confident managing their business finances, yet 78% hate owing money and 62% take pride in building their business without external sources of money.

There are times when it makes sense to self-fund your business, and there are times when it makes sense to leverage other peoples’ money.

Our Senior Director of Loans & Advisory Services, Melanie Rupp, will explore these different scenarios and answer common financing questions such as:

  • What is the cost of using my own money to grow my business?
  • Is it less risky to use my own money?
  • Do I need to go into debt to grow my business?
  • How do I know which funding sources are right for my own business?

Join us to learn how to match your business needs with the right kind of funding!

Facilitator: Melanie Rupp, Senior Director of Loans & Advisory Services, WeBC