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

[Ayojesu]

You can get a job and start saving up to fund your business, and also, you can draft a good business proposal and solicit for loans or grants to startup your business.
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You can get a job and start saving up to fund your business, and also, you can draft a good business proposal and solicit for loans or grants to startup your business.

 

[Setfragil]

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.

You might be left with no other option when your family and friends do not have money to borrow you to start you business and there is no grants or loan form the government.

 

[Hena101]

My advice to new entrepreneurs on how to find new ideas is to always look for problems around them that they can solve because that's where to get profit.

 

[Kelly5]

I know our ideas about seeking means to fund a business might sometimes have to be different, but I will think going for loans shouldn't be the first line of thought though

 

[Solutionav]

Fledging businesses by young or new entrepreneurs usually face the challenge of raising funds to start or grow their businesses, especially in developing countries.
Please what's your take on how to raise funds putting into consideration thr fact that the business is a new business.

The most important thing is not getting funding for the business is how well you believe and all the strategy you have put in place for the success of the business then you can go to the bank for loan

 

[Alexandoy]

I know our ideas about seeking means to fund a business might sometimes have to be different, but I will think going for loans shouldn't be the first line of thought though

Funding a start up can be in many ways. But getting a loan is not the right way. The monthly installment can create unnecessary pressure that can impede the smooth flow of the operation.

 

[Ceeny007]

Easy peasy, personal savings, borrow from friends and family,loan from banks,grants and selling ideas to potential investors

 

[Shigobad20201]

There’re different ways to source loan for a new business. One is by taking a loan. You may choose to collect loan from the bank, family or friends and then you’ll pay on installments with interests. Another means is by saving. Save up some money to start your business

I am sorry to advise against some of your opinion been given to a new enterpreneur ,taking a loan from a bank is out of it because the interest will affect the business, a businessman can take loan to expand his business and not to start a business with a loan , getting help and borrowing from family and friends is better .

 

[jeff87]

There are lots of websites online for entrepreneurs to raise funds for their ideas. As long as you have a unique and good idea people will start helping you putting it in motion

That is very nice if there are lots of website online for entrepreneurs to raise funds for their ideas. If my idea is to earn money through cryptocurrency trading and staking, will there be website that will also fund me. I hope there are because that's what I have been looking for.

 

[Felixko]

Getting funds for a business can be quite challenging especially for a new business. You can take loan from bank to start and know that you are taking double risks. This is because the business can equally fail which may lead to failure of paying the loan.

 

[Setho]

Considering exactly how much he needs to start the business he can look for private organisation assisted grants or even taken a loan from a financial institution .

 

[Alexandoy]

Getting funds for a business can be quite challenging especially for a new business. You can take loan from bank to start and know that you are taking double risks. This is because the business can equally fail which may lead to failure of paying the loan.

Taking a loan for the start up is exposing the business to a big risk. When the cash flow gets tight then the monthly installment for the loan can add a big pressure.

 

[Mayox25]

Though funding is usually a problem of entrepreneur who have a new business idea there are still ways to raise capital. These may be through seeking partnership, looking for investors and the likes.

 

[Skysaint]

Since it's actually a new business idea, then I would recommend you fund it from your own savings. I wouldn't recommend taking loans unless you have a side plan on paying back the money Incase the business fails.

 

[Kubiat-Abasi]

Funding a business can be done via different means, through loans from banks, grants, empowerment, personal savings. Although for a new business I advise you stay away from loan!

 

[Toyoabasi]

Fledging businesses by young or new entrepreneurs usually face the challenge of raising funds to start or grow their businesses, especially in developing countries.
Please what's your take on how to raise funds putting into consideration thr fact that the business is a new business.

Funds could be raised for a new business through personal savings. Asking for contributions from friends and relatives is also another source of funds.
Getting loans is usually not ideal for a new business.

 

[Josan]

As an entrepreneur, what you need to do is get to define your investment and set out a good plan in white and black, naira and kobo. Then locate the funds in order to invest, may be you saved or up to access a loan then hit the business.

 

[Ub40]

Even though the business is new, there are ways one can fund it and if it fails one has the only option of going for bank loan. So the sources are family and friends and personal funds. If it fails then one had to consider getting loan from the bank.

 

[tray591]

Funding a business can be done via different means, through loans from banks, grants, empowerment, personal savings. Although for a new business I advise you stay away from loan!

I will prefer loans and its the right thing to do but the issue is that you must be skillful enough to manage the business involved and get some interest which will aid you pay back the loan,I started my business through loans and am making alot of money I pay the interest three times as stipulated by the bank so loan is a very good source for that

 

[Sotherefore]

I will just advise that you look for a way to fund your business on your own and do not depend on the government for this because the government are not likely to help you in any way most especially the government of our country, if there is a way to get a grant to start up a business then it is better.