Finding ‘hidden’ funding in your family business
Start your search for capital from the inside out. There are no limits on the use of savings found within your business.
By Eric A. Cohen
“Cash is king.” That's what my father told me in 1997 when I entered our family business, a company specializing in remanufactured starters and alternators. Over the ensuing years, I learned firsthand about how a family can struggle in attempting to allocate capital to meet the needs of family members as well as the needs of the company. In today's business world, where resources are constrained, running a family business can involve some tough decisions.
Fortunately, you can avoid such situations if you have capital available to you other than just the cash on your balance sheet. And there are many …
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