So you have a revolutionary idea for a product, service, or business that you want to launch. You have your plan all put together, and you’re ready to go. But you need money. The prospect of gaining finance can be a daunting project to the uninitiated. But it doesn’t have to be. With the right knowledge, plenty of confidence and a solid plan of action, you should be well on your way to getting the resources you need. There are so many ways to get funding, it could be hard to make sense of it all. But we’ve outlined some key sources you might find useful.
Loans and Grants
The government love startups because startups are good for the economy in so many ways. For this reason, they are interested in nurturing new businesses with potential for growth. There is a variety of loans and grants available. Grants are harder to come by, but we would encourage you to not shy away from them because of this. It is worth knocking on any doors you can find. Loans are more popular and readily available, and most banks run a business loan initiative. It’ll take a bit of digging to find the right one for you, but will be well worth it!
If you’re familiar with the hit TV series, Dragon’s Den, you’ll be vaguely aware of what attracting investors involves. This requires initiative on your part, as a startup leader, and bags of confidence in your business. Investors will need to be persuaded that you have enough potential to succeed, because they won’t be parting with their hard-earned money easily! Here are some essential tips for your quest for investment:
This is a fairly recent phenomenon, but has proven to be successful on many occasions. Mostly through internet platforms like social media, crowdfunding involves raising finance by asking a large number of people for small donations. The internet allows ordinary folks to communicate with mass audiences. It’s as easy as that! All you need to do is set up a profile on one of the many websites available for this purpose, including your story and your objective, and get it out there.