Raising start-up capital can be the most difficult part when you want to start a business. It is one of the reasons why small business fail. Here are some ways for you to raise capital.
Tap into your own wallet or savings. Don’t expect others to invest in your startup if you haven’t put some of your own money in.
2. Small business loans
Approach companies that specialize in helping small businesses get quick and easy access to loans.
Banks are not always easy to crack when it comes to small business lending. It goes without saying that you’ll need a firm business plan and a squeaky-clean credit record to get approved.
4. Get Angel Investment in Your Startup
Angel investors are individuals with surplus cash and a keen interest to invest in upcoming startups. They also work in groups of networks to collectively screen the proposals before investing. They can also offer mentoring or advice alongside capital.
5. Raise Funds by Winning Contests
An increase in the number of contests has tremendously helped to maximize the opportunities for fund raising. It encourages entrepreneurs with business ideas to set up their own businesses. In such competitions, you either have to build a product or prepare a business plan.
6. Government Programs That Offer Startup Capital
Research for government programmes that give funding or loans to small business. They are usually countless just poorly advertised.
By Launch Magazine