Many Start-Ups struggle with raising capital to run their businesses in the first year. This is a fact and I thought it would be a great idea to share 5 ideas that could help you to get the capital that you need to finance your business.
In this article you also will learn about the several steps involved and 5 tested and proved methods to raise finance your businesses.
- Family Members
This is one of the easiest ways to bank on, provided you have supportive and understanding family. You can easily run up to the members of your family, to help you raise funds for your business. They will tend to support your business, provided you can easily show them your business plans.
This is also other alternative, which is reliable and sure for you. When you have friends who are understanding, you can even share the business idea with them. Talk about the opportunities involved, talk about the profit you can generate very quick. Some of your friends, might even become investors in your business.
- Selling Off your Properties and Assets
This is one another viable to kick-start your business. If you have landed properties, Vehicles and other valuable assets you have that you feel, that can start your business. It’s easy to get buyers around in your society and advertise online.
This is another viable option, especially if you’re a salary earner. There are many cooperatives you can join in your workplace. The thrift method is common among the rural areas. With keen determination, you won’t believe the amount you will generate within 5-12 months.
- Loan& Grant
In this option, you can approach a bank or organization offering grants to start ups, with your business plan, explain to them how you intended to return it within set time. You can get loan from Cooperatives, Banks. You can get grants from NGO, Government and other organizations.
I believe that the points raised above have been of a great help, you shouldn’t have problem raising capital this time.
I wish you good luck in your business.
Trainee-Journalist -Nija Box