Only 11 percent of the first-time entrepreneurs received venture capital

"Only 11 percent of the first-time entrepreneurs received venture capital, and 9 percent received private/angel financing. Of the overall sample, 68 percent considered availability of financing/capital as important." Message: if you think you're going to get formal private capital (venture, angel, private equity), chances are you are wrong. You will probably need financing from a good old bank, or with help from the Small Business Administration (SBA), or from your parents, siblings or others. How do you feel about asking people, especially people you know, for money?