https://chartattack.com/There are thousands of people out there who believe that they have a great business idea but are worried that they just don’t have the means in which to finance their idea. If you are in this boat then you may have failed to realize just how many options you have in front of you and if you are really serious about your idea and you honestly believe that you can make it a success, then we have some ways you may not have thought of to get funded.
With us today is Michelle from Sertant Capital, a brilliant professional who has worked in business funding her whole career. Michelle currently works with Sertant Capital which is a company that specializes in financing companies for equipment that they need to buy for the workplace. Michelle’s experience stretches very wide and this is why she is the perfect person to go into what options you have when it comes to securing funding for your business idea. If you are super passionate about your product or your business idea then here are the area of funding which you need to look at.
Try a Bank Loan
A bank loan is the most obvious here and it is still one of the most common forms of funding for new businesses. A bank loan will give you the security of knowing that you are working with a reputable lender and the interest rates and terms of the loan are usually very favorable. Banks want new businesses who have borrowed money from them to succeed because they know that if they do, it is highly likely that they will have their custom when they make it big. Banks will give you a business manager who will be able to help you with numerous issues you may run into during your early years.
Angel investment has become increasingly popular in recent years as wealthy groups and individuals are looking to cash in on the brilliant ideas which others have had. This will see you sell a stake in your business, the percentage and the amount per point will be up to your negotiations with the investor. In the main, however, these investments are usually for a quarter or more of the company for a sizable investment.
The reason why so many look to angel investors is becasue once they have invested in the company they will, of course, want it to do well, the idea for them is to watch it grow and then sell their stock when the value peaks. In terms of looking after their investment, they will throw weight at the project and use their resources and their experience to help the start-up grow and find success. Angel investment is usually found in fast-growing fields like chemical, pharma, and tech.
Think About Bootstrapping
Bootstrapping is a phase that is used to refer to people who are finding themselves on their business adventure, and as ridiculous as this may sound, you can do it too. there is a huge number of ways in which you can secure some money to get started on the business. For example, you could take a personal loan or use a credit card with the highest limit available. You could also look to borrow money from family and friends, and even give them some shares in the business in return.
In terms of boosting your chances, you could always look at extreme steps like downsizing your home or downgrading your car, whatever you have to do to free up some cash that you can put towards your business. An additional thing that you could look to do, and which has amazingly worked for other new businesses, is to start a crowdfunding page for your business where people will donate to your cause. If you have a business that you think people will get excited about then this can be a great way of adding some funds to your pot.
In some industries, especially in ecology, you can find a number of grants and bursaries which are offered by private organizations which can help with certain aspects of your business. For example, there is money available for businesses that are opening in the environmental sector which is offered by the government. You can also investigate the tax breaks that you may be able to count on, which may not give you funding directly but will certainly help you from a financial sense.
Nothing is impossible and if you really believe in your own business then you should try everything that you can in order to secure funding for your business idea and go ahead and make the very best of it that you can.