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

[MRizwan530]

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

You know this is the age of technology so everyone know how to use YouTube and Facebook if you have some investment and you want to invest in some business he should go to these two social media platforms and post his question a lot of people will help him.

 

[btaliat]

I will encourage personal saving. But if the personal saving is not enough to start a dream job. Then loan from bankers or money lenders. I don't really like borrowing from families because they may ruin the business by buying on credit.

 

[ranaabubakar263]

Everyone has his or her own roadblock, something that prevents them from taking that crucial first step. Most people are afraid to start; they may fear the unknown or failure, or even success. Others find starting something overwhelming in the mistaken belief they have to start from scratch. They think they have to come up with something that no one has ever done before--a new invention, a unique service. In other words, they think they have to reinvent the wheel.

 

[Shayo]

As a new entrepreneur just starting out I think the first option for getting startup capital should be from personal savings.
Another good way is through help from family and friends, if one has a very supportive family then there is nothing bad in asking for their support in form of money.

 

[Chumzy]

For a new business to be funded by an outsider is a little bit hard and requires a lot of convincing. Most times people are advised to start small and then when you have tested the plans you have in your head. Then you can seek for external funding and then expand your business venture with ease.

 

[Nabeel119]

Most entrepreneurs get their ideas from their experience working in an industry. ... In short, most entrepreneurs come up with new business ideas by noticing gaps and problems in how customers are being served, while working for someone else.

 

[Kehinde]

there are many additional creative options available for starting a business that you might not find when buying a car, home or other major consumer item. If you have the urge to be an entrepreneur, I encourage you to think seriously about each of these, before you zero in on one or two, and get totally discouraged if those don't work for you.

 

[iamgroot]

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.

If you do not have an initial investment, it will take a long time to get started. It is difficult to get into debt and it is difficult to think of debt and you do not know how to pay it off. In my opinion, it is better if you save for your own investment.

 

[Diamond07]

Saving up to fund your business idea however small, through government grants or personal investments. It's not always advisable to take loans or borrow money to start a business

 

[Abelcairo43]

For me the best way you can raise funds for starting your business is just through your personal savings and investment. Maybe you can also consider borrowing from trusted friend or family member so that it would be difficult for you to pay in case the business fails.

 

[Victor-t]

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.

As a new entrepreneur you should be ready to start small, believing that you will also be great one day and there should be consistent in your work, move closer to those that know it more than you and gain some knowledge.

 

[Sotherefore]

Anyone who is matured enough to go into business should try as much as possible to raise his or her own capital to start up a business if you do not have a capital to start up the business then should forget about it because if you take a loan to start a business you might regret it later if the business does not succeed.

 

[Iamsodex]

There are numerous ways to source for capital, you can apply for start up Gant from the government or if you can get a loan. I usually don't advice loans for start up because of lots of uncertainties in the business world and you should keep in mind that you will pay back with Interest if you want to take a loan.

 

[Ebensco]

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.

 

[Tariq Shehzad]

If an entrepreneur wants to get many ideas then there are lots of websites online for entrepreneurs to raise funds according to their ideas and he can manage and run his business rigorously and efficiently.

 

[Nma]

Raising fund for a new business can be very difficult at first especially when you are just starting from the scratch... Nevertheless that shouldn't discourage you..... most times government gives grants to young business owners to boost and grow their businesses... if you can harness such opportunity you might be one of the lucky people

 

[GIFTMICHAEL]

Go for loan there is nothing wrong with it. Countries are borrowing money, organizations, unions, agencies and parastatals. I believe that nobody is perfect forget what people may say concerning collecting it is the best way to fund your business.

 

[Rainlover207]

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

 

[Keibah]

Like I mentioned in a thread, an entrepreneur can source funds by organizing a fundraising event. Give out a few products or services. Tell people about the business and how it can help the community grow and kindly seek assistance.

 

[Greatguy1]

Package your ideas, make sure you draft it in such a way that even a baby will understand it. Draft a proposal and look inwards first amongst your family and friends for funding. They are the easiest to help out without stringent conditions. If however they fall short, you can seek funding through business men willing to partner in your dream via venture capitalism or buying of stake in your business.