Startups require a thorough understanding of the fundamentals of finance. Whether you're looking to secure funds from bankers or investors, key startup accounting records such as income statements (income and expenses) and financial projections will convince others that your idea is worthwhile to invest in.

Startup financials usually boil down to a simple equation. You either have cash on hand or you're in debt. Cash flow can be challenging for businesses that are just starting out. It is important to keep an eye on your balance sheet, and not overextension yourself.

If you're a new business you'll probably need to find equity or debt financing to expand your company and become profitable. Investors will scrutinize your business plan, your projected costs and revenues, and the probability of getting the return on investment.

There are many ways to bootstrap a startup such as obtaining an enterprise credit card that offers a 0% introductory APR to crowdfunding platforms for a new business. It is important to keep in mind that the use of credit cards or debt can have a negative impact on your personal and business credit scores. You should always pay your debts in time.

Another option is taking money from family members and friends who are willing to invest in your company. This may be www.startuphand.org/ a great option for your business, however you should always write the terms in writing to avoid conflicts and ensure that everyone understands what their contribution will be affecting your bottom line. If you offer the recipient shares in your company they're considered an investor and has to be governed by securities law.