Have you come up with a great idea for a business, but have no idea how to find the funding needed to turn it into a reality? There are actually a whole range of funding options out there. Here we list the many choices available to you and highlight the pros and cons of each. This should help you to secure at least one source of cash, if not more.

If your business start-up costs are relatively low and you don't want the added pressure that comes with borrowing or taking money from an outside party or even a family member, you could be best off investing your own personal savings in your scheme. It will save you having to pay additional interest costs, attend finance meetings and go through endless paperwork. Just make sure that you have enough set aside to get by on until you're in profit.

Before you start looking at other funding options, you first need to obtain your credit report. This will enable you to check your credit history for any inaccuracies that you can right and find out about any outstanding debt issues that you need to try and clear. Potential backers and suppliers will want to see that you have a positive credit history. Once this is sorted you can start scouting for funding.

The most obvious place to go for business funding is a bank. Although banks are keen to show that they are supporting new business they often have strict lending criteria and may require you to provide a personal guarantee on any loan that you secure. If you use your home, for example, to guarantee your loan it could put your home at risk if you don't keep up repayments. However, if you have a guaranteed income stream, this could be a quick and easily arranged option.

If you don't require a great deal of capital to start your business, you could rely on a business bank account overdraft. This means that you only pay interest on the amount that you are overdrawn by each day. Exceed your limit though and you will incur bank fees and additional interest charges. This facility is best suited to very short-term borrowing.

Banks are not the only financial institutions that lend money to small businesses. There are a number of accredited loan companies that will lend money to you. Just make sure that you use one that is regulated and comes recommended and be aware that the interest charges may be higher than that of a standard bank. These facilities are particularly useful if you are looking for much less than banks will traditionally lend or if you are refused a loan by a bank.

There is the option of paying for your business start-up costs by credit card and paying this off in monthly instalments. If it's used responsibly and you're guaranteed a pretty instant income stream, this can be a useful credit stop gap. This is a high-risk option, however. If you fall behind on payments it will negatively impact on your credit score and you could end up paying off the ever mounting debt forever.

Venture capital is where an investment bank or other financial institution raises money from individual investors to invest in businesses. They give you a certain amount of money based on what they believe your business is worth and you give them an agreed percentage stake in return. It can be a great deal for both parties, but you will have to be prepared to give them a say in company decisions.

Business angels are individual Investors who invest their own personal money into what they perceive to be young businesses with immense potential to produce a substantial return on their investment. These people often have experience of launching a successful business and they may become invaluable sources of support, advice and even provide services such as office space. You need to get along with them and will have to give them some say in the running of your company.

When you crowdfund you ask a a lot of people to invest money in your business in return for a small amount of equity. It's done through websites that are set up to enable you to profile your business idea. Well-known sites include CircleUp and Crowdcube. You then promote your idea and hopefully attract all the cash that you need. It is not 'easy' money though. You need a strong business plan and have to go through due diligence and credit checking. Managing hundreds of investors can be complex too.

Financial lending has traditionally always been done through regulated financial institutions. Peer-to-peer lending is a new alternative that uses an online platform to connect borrowers with lenders. Low returns on savings have made them very popular, but you will have to make public a lot of information about your business and go through the standard credit checks to assess your risk. It's also vital that you ensure that the platform you choose is regulated by a financial body.

A lot of businesses start off with a loan or investment from parents or close friends. As long as you trust and get on well with the family members or friends that you're borrowing from, you're not asking them to give up their life savings and you make it official with a legal document, this can be a great source of funding. Edward Zuckerberg loaned his son Mark money to help start Facebook; he was later given shares that are now worth millions. Use that in your parental pitch!

They might not be easy to find and the criteria for acceptance is often very specific, but it's worth seeing whether there are any grants available to help you to get your business off the ground. In the US, veterans and single mothers are more likely than most to find grants that they can apply for. A quick web search will throw up a list of available grant offerings in your area.

Revenue-based financing is a loan that is linked to your business revenue. Rather than having fixed monthly repayments you pay back an agreed percentage of your monthly revenue. So you pay more when your income is up and less when it's down. It's good for those businesses that have known peaks and troughs and doesn't involve an equity share, but if the loan takes longer than expected to repay you could end up paying back many times the amount of the initial loan.

You can now sell a proportion of your future earnings in return for a cash injection for your start-up. You have to have a pretty watertight business plan to secure funding this way, but if you pass the intense vetting procedure you're then classed as a prospect and matched with suitable investors. You typically have to agree to repay up to 10% of your future earnings on an annual basis for a set number of years. Repayments are reasonably affordable, but this does tie you in for the long term.

You can't dip into your pension pot if you need a personal cash injection, and some retirement plans now give you the opportunity to invest your funds in your own business without penalty. You will likely require an expert to set this up as there are legalities involved, but it can provide a quick and easy cash stream. It is a big gamble though, as if your business doesn't work out you risk losing everything and face spending your retirement in poverty.

If you own your own home either outright or with a mortgage, you may be able to borrow against the equity that you hold in the property. This can be done through a home equity loan or by extending your mortgage or remortgaging. Most lenders require people to retain at least a 20% stake in their home, however, so this won't work for everyone. It's also very risky, as it means that you could lose your home if your business fails.

Business incubators are organisations created to assist people looking to start businesses. They will not only assist you with funding, they can also offer physical work space, mentoring and networking opportunities. They may be sponsored by individual private companies, government agencies or universities. There are more of them than you might think. There are reportedly around 900 business incubators spread across the US, for example.

To reduce your expenditure and outgoings, consider leasing equipment that you need for your business rather than buying it outright. Trucks, cars, phones and tech equipment can all be leased. You will pay more in the long run, but it will significantly reduce your initial outlay and mean that you can easily upgrade equipment as and when it's needed.

Taking on a partner or several partners can be a great way of injecting cash and resources into your business. It can also provide a symbiotic relationship; a computer retailer, for example, may become partners with a computer support person because they help each other's areas to grow. Partners may also find that they have enough cash between them to start up and they may find it easier to get a loan together.