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

[Heatman]

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.

When I started my poultry and fish farming, I made use of my own personal money that I saved for about 4 years before it was enough for me to use it to run the project and it's basically the same thing that I'm going to advise any new entrepreneur out there to do.

 

[Laurentta]

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.

I would tell a new entrepreneur to watch out for government grants and apply for them when they are available. I would also tell him or her to apply for loans with low interest rate or to get loans from friends and family members.

 

[Robert90]

The ideal strategy will depend on the entrepreneur's circumstances and the quantity of cash needed. There are various ways to fund a new business idea. Entrepreneurs have a variety of potential options, including bootstrapping, crowdsourcing, seeking outside financing, and asking friends and family for a loan.