Where can I find sources of financing?

Having a minimum of starting capital is indeed necessary to improve your odds of survival.

Conduct some market research before preparing a full business plan. Market research can become quite involved and depends on the complexity of the situation. I would recommend you become familiar with the basics of marketing to guide your research or even to provide specific direction to a consulting agency should you decide to use one. Another possibility, which is becoming quite popular, is to seek out a business coach to help guide you through some of these questions and processes.

Once you feel you have a solid business case to present to investors and lenders, you have a variety of options open to you. The first choice is to pursue either debt or equity, or both. Equity investors may be relatives, friends, acquaintances, business associates, private "angel" investors, angel investment clubs or venture capital firms.

A traditional source of financing would be your bank or financial institution, which will lend you money only if you have collateral or security. The usual source of funding for new technology businesses is "love money," which is funds raised from friends, family and acquaintances. You should also expect to put up your own money. Other sources of financing include customers and suppliers. You might also find a suitable partner that would bring the necessary starting capital to fund your business.