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

[Alexandoy]

One way of sourcing for loan is from a financial institution,but being an idea it would be better to save some funds and start up or meet some friends or family members for initial fundings,as such loan might be hard to get as a start up.

Sourcing a loan is not easy. Besides, a loan can put a big responsibility on the business owner with the monthly installment payments. I don't think a loan is good to finance a new business. The best is to use your savings or maybe you sell an asset for the start up capital but not a loan.

 

[Abigael]

I am thinking of saving up my online earnings so that I can start a small business. My online earnings are not much but if I save for a while, it can add up to a good amount that can be useful.

 

[tyrim88]

Sourcing a loan is not easy. Besides, a loan can put a big responsibility on the business owner with the monthly installment payments. I don't think a loan is good to finance a new business. The best is to use your savings or maybe you sell an asset for the start up capital but not a loan.

This is very true and correct,because we had the same issue when we started our business,we had some little cash at hand but not enough to build what we wanted,but we have to make do with what we have and we grew from there.

 

[kay169]

Depending on your financial status and how the expenses you have on your day to day activity funding a business can be done through saving and other side hustle and jobs !

 

[Josemendez]

I am thinking of saving up my online earnings so that I can start a small business. My online earnings are not much but if I save for a while, it can add up to a good amount that can be useful.

The problem with this is that if you don't have an offline job to backup this , you will end up spending from the little money that you make online . This is the main reason why most people don't save much online

 

[FreshKaz11]

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 know you have a good business idea you want to work on or start up,the best way to do it or to get your capital for starting up the business is to be saving your earnings tho.

 

[BrolySSJ]

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 think that the best way to fund a new business idea is to try and secure potential investors in your business. This will also draw your attention to any concerns in your business proposal as well.

 

[Setho]

Funding for your business is something that sometimes comes with a lot of headache and as such you should seek grants or partners first before loans.

 

[Jlife]

In the case of natural disaster to a business, the pressure that would be mounted on the borrower will be lessen as they also understood the reasons why the business fails which is beyond the control of the owner.

Even if this is so, it is still the responsibility of the borrower to look for another means of getting the money to pay back the loan they have collected, the loan organisation may not likely to free the person because of the natural disaster.

 

[Setfragil]

Even if this is so, it is still the responsibility of the borrower to look for another means of getting the money to pay back the loan they have collected, the loan organisation may not likely to free the person because of the natural disaster.

I never said that the organization will free the borrower of his debts but they will understood the reasons for his inability to repay his loan by lessen the pressure that would be mounted on him.

 

[Snazzy001]

It will be hard to advise intrapreneur on how to fund a business advice if the intrapreneur has no money on his own to fund the business idea then you will be the better option

 

[Jlife]

I never said that the organization will free the borrower of his debts but they will understood the reasons for his inability to repay his loan by lessen the pressure that would be mounted on him.

Yea is true, obviously the pressure will not be mounted and him I agree with that, the person who borrow money to start up a business did not have any way of getting his own money to start up his dream business, it will be very difficult for such person to pay back the loan and can lead to serious depression or even dead.

 

[Justin]

If you have a great idea, I do not think funding is a problem. You can get partners, angel investors, crowdfuding or even a bank loan (people are willing to invest in good ideas)

 

[Ralphjoe]

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.

This idea of Angel investors is a very noble idea that I think would really help anyone that is trying to sort for funds for him or her to start up his business but the truth is that angel investors and not much and most people do not know where they can get them.

 

[Kunkun]

When starting a new business the issue of capital is always there and there are a number of sources for the capital, it could be taking a loan usually from a bank or getting someone to invest

 

[Kelly5]

On advising a new entrepreneur on how he should find his new business. One thing I will make certain of hat I will not fail to let him know Is that, he should never go borrowing money to fund that business

 

[Dowenship]

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 know of crowd funding, or looking for an investor who they can make a proposal too concerning the business and the investor award then enough financial backup for the business....

 

[Kane]

I suggest people not to go into a business venture unless that have a lot of money. Many individuals fail when they start a business with a low investment.

 

[Chibson]

There are several ways of funding a business idea. even though I don't really advise people to take loans but taking of loans you definitely want to date ways.

 

[Kelly5]

If an entrepreneur has a very lofty business idea but lacks the funds to kick start the business, I would advise him to reach out to known wealthy persons he feels he can share the business idea with that will believe in the idea and help in the kickstart process for that business