Would you give up a great business idea because you don't have capital?

[Shaf]

This is one challenge that almost every start-up must face, especially if it's a small business.

Lack of capital to find a business can cripple your business either in it's initial stages or later when it's growing. There are many ways to source for the funds, but sometimes things do not go according to plan.

This is especially true if the business idea is new, as people and investors are less willing to put money into it for fear it would fail.

If this happens to you and you can't raise capital any other way, would you completely abandon the business idea?

 

[Kingsley]

You are so correct, this had been a problem for almost all business person's who must have done a thorough research and gather all the relevant information, from the relevant quarters on how to effectively tart-up and run a buy business venture very effectively and efficiency. Some even go very far in getting information as to how productive or lucrative a particular business location will be. But only to realise that after all the rigorous process involved in getting all the business frame work to ensure a successful transition, there is no capital to kick off, this will be become very disturbing. And sometime some people even try to go the extra miles of applying for loans from banks but their applications gets disapproved maybe due to insufficient information, or inappropriate collateral that will end up not covering the requested amount of loan in the case where there is a kind of default. There could be somany other reasons why the loan my not be approved as best known to the bank. Then help too may not be coming from family and friends. This set backs can actually make the businesss ideas to die a natural death, as it has happened to me too aswel.

 

[Caramelle]

A great business idea deserves a try. When all sources of funding fail to deliver, it's all up to the person to make it happen. A common way to raise capital is by deliberately saving a portion of one's salary to cover the business start-up costs and initial working capital. Another is by working on a side gig and using the earnings as capital. Some entrepreneurs work with inadequate capital by starting soft and gradually growing the business when the funds become available. An enterprising person can also start on a different business idea with lower capital requirements and eventually use the profits from that business to start one's dream business. Initial struggles with capital should not deter anyone from pursuing a business idea.​

 

[Shaf]

A great business idea deserves a try. When all sources of funding fail to deliver, it's all up to the person to make it happen. A common way to raise capital is by deliberately saving a portion of one's salary to cover the business start-up costs and initial working capital. Another is by working on a side gig and using the earnings as capital. Some entrepreneurs work with inadequate capital by starting soft and gradually growing the business when the funds become available. An enterprising person can also start on a different business idea with lower capital requirements and eventually use the profits from that business to start one's dream business. Initial struggles with capital should not deter anyone from pursuing a business idea.​

It's an excellent suggestion that one should not give up an excellent business idea due to lack of funds to start it.

But trying to save money from one's salary to raise capital, especially if it's a large amount would take a fairly long period of time, especially if the salary is not much or has too much expenses dependent on it.

One can use the savings as you suggested though, to start a business that requires less capital and use the profits, with the continuous savings from one's salary to raise capital for the initial business idea.

 

[btaliat]

This is a tough situation that most people always find themselves. In fact, it is only a handful of entrepreneur that has not been in this shoe of whether to forgo their dreams because of money or not.

If I find myself in such a situation, I won't let go of my dream. Personally, I am a poet and a writer, a renowned one for that matter, though none of my books or poems have been published. I could remember when a friend advised me to sell off my works for money since I don't have much to give to the publisher. I felt bad for that.

Instead of giving up on our dreams and intelligent ideas, we can always find a way of making it work by sourcing for money from different angles. Giving up or abandoning projects for lack of money only shows how weak we are. And we need to show that we are stronger than what we are facing.

I could remember how WhatsApp sold his platoform 5o Zuckerberg, now nobody remembered him anymore, the app is now one of the most used apps in the world and his name has faded away and replaced with Zuckerberg that only bought and tried all he could to make sure the app survived big competitors of that time like BBM and 2go.

 

[Rachael]

As it stands, I would not like to encounter a situation where I have a feasible business idea yet the capital would be an impending barrier. I am not of the opinion of taking loans in starting up a new business because no one can predict the future. First of all, I would opt for crowdfunding, and if the money is acquired is substantial enough, then I would forge ahead to set up the business. Other alternatives like; opting for investors or empowerment grants would be the next available options but if there are no investors, I would be left with no choice than engage in partnership.


I can never bury a feasible business idea because of limited financial incentives. Inasmuch as I do not like the idea of partnership but to bring the business to reality, I would use the avenue as a trial and error to fathom how much potentials the business could weigh in the future if expanded. Giving up on a great business idea should not be encouraged. Even though it means taking up low interest rate loans in setting it up then the risk is worth it. Another way could be selling the business ideas to get money in return.

 

[Abigael]

I would never completely abandon such a great business idea. This is be because I know how much I can benefit from running such a good business. Therefore, I will do my best to ensure that I get enough capital to start it.

I will ensure to explore so many sources of capital until I get enough to start the business. One source which I will exploit the most in earning some income from doing some jobs for people. I will make sure to look for jobs online or offline that earns me some money. Then put my effort in it to really earn the money.

I will also do my best to raise funds from family and friends. I am sure that if they see that my business idea is great, they will be willing to help out.

The last source of business capital that I will give a try is taking a loan. Which is the hardest to get since loan lending companies and investors are so skeptical about business startups. But I will just give it a try since if I really present great ideas, they may be willing to invest in my business.

If all these don't work out, I won't just give up easily. I will give myself time. Who knows? Maybe with time I will be lucky to get the capital I need.

 

[kings11]

Few important tips!

1. Loved ones. Set up a strategic plan to assist you with fund-raising in the event that you know somebody with enough money to assist with financing your endeavor. ...
2. Visas. ...
3. Business credits. ...
4. Home value advances and home value credit extensions. ...
5. Retirement plan credits. ...
6. Business awards. ...
7. Crowdfunding.

 

[Rendered]

I would change the business idea a little depending on what it was to get the money I needed to start up the business I wanted to do in the first place. There is a lot of ways depending on the business to get the money you need it is just going to take time on some of them.

 

[Suba]

If you have a strong will, of course, you will not leave your great business idea or you must become desperate, even though you currently do not have the capital. If you are going to operate a small business, you generally do not have a proposal so it will be difficult to find investors. so the best way to get capital is to use your savings, sell your valuable assets such as gold jewelry, motorbikes, land etc. I used to do family loans when I was about to start a business. After your business has been running for at least 6 months, you can take small business credit assistance provided by the government.

 

[Heartstrings]

No I won't,I will first try my possible best to raise some money. Like either I save up or try my possible best to work online or offline to generate money to start,I would have opted for a loan but then I am a fan of taking loan because of the interest attached to it. So either I borrow money from friends and family and pay back or I keep striving and saving up for it. It also depends on the type of business, because there are some business that doesn't require much capital,in which you can actually try your best to raise the capital yourself in a short time.

But in all, it all depends on your dedication and strong will, someone may have a good business idea that would actually generate more income and great profit but the absence of Been dedicated could affect such person. In all business needs focus, dedication and determination in order to succeed and reach your desired goal.

 

[Carpon]

Fundings for starting up a business are raised through many means and I don't think there can be a condition whereby a person won't be able to get access to a single route through which he or she will source for capital.

If your personal savings cannot be sufficient for starting up a business, then there are other ways that you can source for more funds like taking business loans. There are banks that give this and you only need the requirements since you already have a reason.

And even apart from that, you can source for capital from the people around you. You can solicit for support from friends and close relatives and people who you are very intimate with and can be able to sacrifice for your progress

There are many ways apart from the aforementioned that one can get funds to use as capital. I don't think a nice Business idea should be abandoned just like that, no!

 

[Mika]

You do not have to give up your business idea if you do not have the funds to invest. There are numerous ways to fund your business idea. If you have really great idea, you can find angel investors and venture capitalists to invest in your idea. When you visit a business expo and business seminars and pitch your ideas, you can easily find investors. Another way to fund your business is by starting a crowdfunding campaign, you can use kickstarter to fund your business. If you have a great idea and if you can write a really good pitch, you can easily raise funds for your business through crowdfunding site. Another way to fund your business is by inviting a partner, you can invite someone to invest in your idea, you invest your idea and another person will invest his money. This is the best way to start a business

 

[Yusra3]

Absolutely not. Limited access to initial capital should not be a reason for you to step back from the business idea you are convinced is sound and profitable. A range of funding opportunities includes peer lending, angel investor's, small business loans, or self-investing by re–investing income. Backed by a well-thought-out business plan and a stubborn breath that breaths livelihood into your entrepreneurial calling, nothing should hold you back from seeing your vision through...

 

[Etini]

Without funds, that your business idea means nothing. It is money that gives life to every business idea that one might generate. There are so many people that designed beautiful business models that just ended on paper because the originators of the Ideas couldn't fund it. At best, some other persons take the idea and run because they don't have funds to execute.

I always tell young brilliant entrepreneurs to always go for equity funding if they are sure that they have a fool proof business idea, they should embrace equity funding and give up a part of the idea. A smart thing to do would be to give up some ownership and let your business idea have the funding it would need to be actualised.