Seven financing sources for SMEs

FROM ideation to resource maturity, all small and medium enterprises (SMEs) need continuous funding to grow, sustain that growth and achieve profitability.

The Harvard Business Review names five stages of growth for small businesses after ideation — the stage where entrepreneurs find the capital to start their business. First is the existence stage, where a company establishes the viability of its business idea. Second is the survival stage when the company, having established viability, tries to generate a steady cash flow. Third is the success stage or when the company has achieved stability and is earning reasonable profits.