Rachael
Verified member
Although it is not possible that every individual would have the drive or passion to venture into a business line but at times, most people have the desire to own a business either passion-driven or profits-driven but the major challenge is always the unavailability of the startup funds. This challenge has made many business ideas which would have been productive go down the drench and those who are high achievers and seem not to have an alternative do opt for the first option on their minds which is obtain loans from either financial institutions or money lenders but in most cases, we know how negative the story ends especially if a crisis like the covid-19 pandemic which is out and beyond of the control of business owners.
There are other alternative methods of raising capital for a new business without taking pressurizing loans. It is quite distraughtly that some entrepreneurs would sign up for loans with high interest and short duration to repay without determining how negative the loan would have on the business. Feasible ways of raising capital include; crowdfunding through donations, opting for investors with your business idea and business proposal, using our personal savings to start up a business and through partnership to reduce the burden of high cost.
There are other alternative methods of raising capital for a new business without taking pressurizing loans. It is quite distraughtly that some entrepreneurs would sign up for loans with high interest and short duration to repay without determining how negative the loan would have on the business. Feasible ways of raising capital include; crowdfunding through donations, opting for investors with your business idea and business proposal, using our personal savings to start up a business and through partnership to reduce the burden of high cost.