How would you advise a new entrepreneur on how to fund a new business idea.

[jeff87]

There are many ways new entrepreneurs can generate funds to start a business, if he his sure of how the business will thrive,then he can obtain loans from banks, or seek for help from family members and relatives

That is awesome. There are a lot of ways in order to fund the business that is starting.

Having or securing a loan from banks could fund it. You will pay the bank with interest.

 

[Man]

I would suggest to find 2-3 mentors who are already successful in that similar line of business and take thier advise on how to get funding. Thier experience will help you to make a better informed decision over and above your knowledge and internal search for funding your business.

 

[btaliat]

There may be many ways an intending business owner can fund his business but obtaining a loan should be the last resort. He can have personal saving or even borrow from friends.

 

[Sotherefore]

The amounts of money that you take as a loan will determine how fast the loan will be pay back. You cannot take a soft loan and want to pay it back in a long time.

In this case ,they are not giving a flexible time for people to pay back the loan ,they should allowed us to pay it back whenever we can as long as we are still paying the interest.

 

[GIFTMICHAEL]

An entrepreneur who is just new in the world of business, needs to plan for his or her business first, and develop strategies to drive income before pumping money first.

 

[Setfragil]

In this case ,they are not giving a flexible time for people to pay back the loan ,they should allowed us to pay it back whenever we can as long as we are still paying the interest.

The people that gave you a loan are also doing business, if they allow you to pay back any time that you want, you might as well takes forever to pay back the loan.

 

[Sotherefore]

The people that gave you a loan are also doing business, if they allow you to pay back any time that you want, you might as well takes forever to pay back the loan.

Well this might actually be true to some people, but at least when they are giving me a loan, they need to make sure that the time for me to pay back is a little bit favorable,

 

[Setfragil]

Well this might actually be true to some people, but at least when they are giving me a loan, they need to make sure that the time for me to pay back is a little bit favorable,

Loan cannot be actually forced on you, you can decline it if the terms and conditions does not favour you or you think it will be difficult for you to fulfill agreements.

 

[Sotherefore]

Loan cannot be actually forced on you, you can decline it if the terms and conditions does not favour you or you think it will be difficult for you to fulfill agreements.

I'm not decline because it is something that I would need to start up my dream business but I'll ask them to adjust their payment period to a little more time so I will be able to pay it back.

 

[Setfragil]

I'm not decline because it is something that I would need to start up my dream business but I'll ask them to adjust their payment period to a little more time so I will be able to pay it back.

You will always an option to decline a business loan if the terms and conditions of the loan does not sit well with you. If you do not reject a loan that you think is not the right one for you, you will find it difficult to pay back.

 

[Kelly5]

I am wondering how people can find angel investors. If I have the money the big question is why I would invest in the business of a stranger. I have many friendsthat may be worth my investment. That is more logical.

I have come across a website a very long time ago actually that talks about this angel investors. It's real. They do exist. But I find it really hard to believe anybody can just get across to them like that because of business proposition

 

[Richard92]

If this entrepreneur ha a very viable and good looking business idea and seek fund to start it up, I will advise him to meet family members who he thinks can help as well as friends also and gather up the whole sum and start the business

However before you advising enterpreneur not to fund the business you must first the phone know the kind of business that this individual is going into because different business with different strategy of funding.

 

[Sotherefore]

You will always an option to decline a business loan if the terms and conditions of the loan does not sit well with you. If you do not reject a loan that you think is not the right one for you, you will find it difficult to pay back.

Lolz, I don't think I am going to decline it because I might be so eager to start up a business. I'll just get the loan to start up the type of business I am really interested and maybe we can negotiate when there is any problem.

 

[Justin]

The easiest way is through a crowd funding campaign. We'll, I have not done this myself but I have hear from so many people that it is quite easy to raise funds

 

[Setfragil]

Lolz, I don't think I am going to decline it because I might be so eager to start up a business. I'll just get the loan to start up the type of business I am really interested and maybe we can negotiate when there is any problem.

If you do not decline a loan that could put you in problem, you will have problem in the future that you might likely sell the business before you could solve it.

 

[Sotherefore]

If you do not decline a loan that could put you in problem, you will have problem in the future that you might likely sell the business before you could solve it.

Lolz, you mean about selling my own business that I actually suffered to get it started ? Even if they're taking me to the Court of law, The court will still give me some time for me to pay it back.

 

[Setfragil]

Lolz, you mean about selling my own business that I actually suffered to get it started ? Even if they're taking me to the Court of law, The court will still give me some time for me to pay it back.

When you default in your loan agreement, it is a very serious case that the court might not have mercy on you. They will take charge of your properties or business till you are able to pay back your loan.

 

[Richard92]

When you default in your loan agreement, it is a very serious case that the court might not have mercy on you. They will take charge of your properties or business till you are able to pay back your loan.

The best way to advise a new entrepreneur and how to fund his new business idea is to simply go to families and friends and get loans or should go to government establishment that gives loan to get loan to finance his business.

 

[delnovem]

1. Have a solid business plan. 2. Prepare for financial challenges. 3. Be frugal – remember you're a start-up. 4
Don't be afraid to ask for help. 5. Put your faith in a trusted mentor. 6. Marketing on a shoestring budget.

 

[Sotherefore]

When you default in your loan agreement, it is a very serious case that the court might not have mercy on you. They will take charge of your properties or business till you are able to pay back your loan.

Yes I know it's going to be a very difficult and serious case ,they will take charge of my business but they will still give me some permission for me to operate my business until I am capable paying it back.