Sourcing money to start a business

[Augusta]

One thing that limits a lot of people from progressing with a business is funds. The truth is starting a business with a loan isn’t a good idea. So how else do you source for capital to start a business? You should try these other ways that might come with less interest rate

• Start with asking friends and family
• Work for a period of time to make money
• Sell some things you have, you can buy them back later
• Use the money from your savings; it’s a business you are going into. You would replace later
• Open a go-fund me online for your business and see how it goes

You can win if you don’t venture, so see if you can start that business today

 

[IamDozzy]

There are various ways of sourcing money to start a business but the most popular of them all is taking loan from banks using a collateral or ultimately borrowing from friends and family. The first option puts you under pressure to perform in order to service the loans while the latter makes you comfortable and takes the pressure of you. The are other ways such as Hire purchase, Partnership and lots more.

 

[Augusta]

There are various ways of sourcing money to start a business but the most popular of them all is taking loan from banks using a collateral or ultimately borrowing from friends and family. The first option puts you under pressure to perform in order to service the loans while the latter makes you comfortable and takes the pressure of you. The are other ways such as Hire purchase, Partnership and lots more.

This is why it is not a good idea to start a business with a loan you would be putting self under a hesby pressure to pay back the money. So it is better to try out the above listed ways before going for a loan.losns come with high interest and a Short repayment plan

 

[Alexandoy]

When I started my 2nd business I invited friends and relatives to contribute $20 to be part owner of my business. It is an informal syndication and I know that they will trust me. That was during the hard times but I was able to get positive reactions from 8 of them. It was not much of the money but for the moral support of my start up.

 

[sincerem]

Asking friends for help of finance in order to inject into my business makes me keep around the bush when i have nothing doing. The only people who can help you when such needs arose are your biological family, especially your parents when they have. It is even hard for a sibling to offer you money in terms of loan for business even if he has it.

 

[Augusta]

When I started my 2nd business I invited friends and relatives to contribute $20 to be part owner of my business. It is an informal syndication and I know that they will trust me. That was during the hard times but I was able to get positive reactions from 8 of them. It was not much of the money but for the moral support of my start up.

This is the whole idea, getting support from family and friends that really be uplifting. One outstanding thing is that there is no pressure of pay back or repayment which comes with getting loans. And it goes one in helping one starts a business especially if the business is a new one

 

[Wisdom01]

I usually source for money from certain people like friends to get capital for my business ,I have been dissapointed many times because they usually claim that they don't have more money required and others ,so I find it hard to get more money to run my business ,the only assured way for me is the bank all you need is to get the required collateral

 

[Chibson]

A lot of people have good business ideas but lack of funds have made them do not start several businesses in which they want to go into. There are several ways and means by which people can sort out fund to start their business. In some countries the government provide incentives to business startups. You can also borrow from Friends and what I recommend most is to start small.

 

[Mika]

The business funding methods mentioned above works when you are trying to start a small business. Let say you want to start a dropshop business, you need just about $1000 (for website development and marketing). You can raise money by burrowing from friends and family, or using your funds or even crowdfunding.

 

[Ferozas]

The best form to raise funds is from people that truly believe in you

 

[Sherman198]

Well whatever you want to do this days, you would definitely need money. You can't avoid money in whatever project you are planning on doing.

And how do you get cash for your business project? I don't usually encourage or advice people to borrow money because I don't know, for me when i borrow its always hard for me to return it. So I don't really support borrowing fund especially if you don't have sure ways of returning the cash back

I will advice anyone to work first if you need cash for business.

 

[Setho]

There are so many ways that you can raise money for a business and the best we are actually depend on exactly how much you need and the type of business you want to set up. But no matter what it is it is advisable that you should avoid higher credit loans and instead go for things like grants and family donations.

 

[Makah]

There are many ways we can source money to start a good business which are taking loans from financial institution from banks or getting money aid from Our family and friends
Even tho I won't advised people to source cash from micro finance or bank to start a business instead we should save up and start something up from the ground

 

[Abigael]

There are two ways of sourcing funds for a business that I find to be the best. One of them is using your own savings. If you have been saving for a while in whatever way, you can take out those savings and start a business. The second one is working for a while to earn the money. It is so good this way because you don't awe anyone the money.