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

[YERUS]

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 best way to fund your business idea is to have your personal savings ready.
You must have planned for the business long enough and must have started gathering funds for it.
You can also ask for help from your relatives or friends.

 

[Sotherefore]

I cannot advise you to get a loan to start up anything as it is not necessary, you can only be able to fund your business by getting a grant from any organisation or you work and raise the money that is needed to start of the type of business you are dreaming for.

 

[Hrtbeat]

Finding funding can be the hardest part of getting your business off the ground, but also the most rewarding. Once you’ve saved, gotten approved for a loan, or found other people to invest in your business, you can get back to—or start—your dream job! Though it can be a long road to success, finding allies along the way such as friends, angel investors, or venture capitalists to help keep your business started.

 

[Skysaint]

A new business often means you're starting off the business for the very first time, so it will be best to find such business from our own savings. This is because we are yet to gain experience in that aspect and things don't normally turn out the way we imagined it, so to be on a safer side use your personal savings

 

[kinqzbitz]

Well you can solicit for help from family and friends or better still you apply for loans but before doing that you have to be very sure that you will be able to pay back the money

 

[Godspower]

Most entrepreneurs take loans from banks and other financial institutions to fund a business but it is not really advisable. You can raise money from discussing your business ideas with friends and relatives.

 

[YERUS]

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!

Businesses can be funded by different means.
If you are a new business owner, then you can use personal savings.
You can also obtain loans or ask family and friends.

 

[greenie]

The only way to generate money if you want to start busines is to get loan from bank, you can borrow money from relativeative one (family or friends), you can also sell your property to generate money, or you should save a money up to the needed capital to start a business.

 

[Kaffyfolla]

The outlook for funding depends a great deal on the specifics of the business.

For example, many ongoing businesses have access to standard business loans from a traditional bank that would not be available to startups. Also, high-tech high-growth startups have access to investment funding that would not be available to stable, established businesses that show only slow growth.

 

[Skysaint]

The only way to generate money if you want to start busines is to get loan from bank, you can borrow money from relativeative one (family or friends), you can also sell your property to generate money, or you should save a money up to the needed capital to start a business.

All you have said are ways to get money for ones business startup but I think the last two options are better with the last being the best.
It's actually better we calm down and save up the money for our business startup because no one would want to risk taking a loan. One can sell their property to complete or raise money for themselves also.

 

[Shigobad20201]

Most entrepreneurs take loans from banks and other financial institutions to fund a business but it is not really advisable. You can raise money from discussing your business ideas with friends and relatives.

When advising a new enterpreneur in how to fund his or her business , getting a loan to start a business is out of the game , but discussing the business with family , friends and society to get money is a welcome idea.

 

[tyrim88]

When it come to business expecially new start ups,it is usually advisable for them not to involve themself in loan from financial house,one can decide to get funds through family or friends,or on the alternative look for an investor with the needed funds to invest and then discuss the sharing formular.

 

[Ononivami1]

I will like to stress the point that the entrepreneurs should always get the business capital ready before starting up the business and he should try as much as possible not to start with a loan.

 

[Setho]

If it is a large business then I think you should approach big entities who are interested in investment for you to open up a fund with them. Looking for seed investors or crowdfunding from family members is also another option.

 

[Sincerem]

Early planning for the business is very important . If you can plan your business early you can be thinking of how to raise the needed money to start it up when the time reaches. I will advise my friend to plan it ahead and also start the business with personal savings as the most important.

 

[joy101]

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

Yes I agreed with you as a new entrepreneurs seeking to raise funds for starting a business, there are alot of website he/ she will start working in order to save money to start business instead of taking loan.

 

[Setho]

You can search out an 'angel investor.' These are rich individuals that are searching for smart thoughts (strategies) and additionally items that they feel have a decent possibility at succeeding. They will credit you a measure of cash you both consent to in an agreement, with getting a level of the business.

If they believe that the business is a good one and has unique selling points then the best thing to do is to look for angel investors and private investors that can be able to inject money.

 

[Smiles20]

I will advise him to look for ways of getting money apart from loans first of all like family donations or trying to liquidate some of his assets. You can choose to consider loans after that.

 

[Setho]

Getting a loan is probably the most easiest thing for you to think about but you should try other means such as getting funding from angel investors or your own personal savings first of all.

 

[Castelione]

It is better to use your saving in starting the business. Whatever the outcome, you don't have any debt to pay for. You may also borrow money for capital, but make sure that you have the means to pay for it aside from the business you're about to start.