What are the pros and cons of equity financing?

Equity financing is a popular method for companies to raise capital, but it's not without its fair share of advantages and disadvantages. On one hand, it allows businesses to access large amounts of funding without taking on debt, which can be a major benefit for startups and small businesses. Additionally, equity financing can bring in experienced investors who can offer valuable guidance and support. However, there are also some drawbacks to consider. For example, equity financing requires giving up a portion of ownership and control of the company, which can be a difficult decision for founders and owners. Additionally, the process of raising equity can be time-consuming and expensive, with legal and accounting fees adding up quickly. So, my question is: What are the key pros and cons of equity financing that businesses should consider when deciding whether or not to pursue this method of funding?