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

[Razor1911]

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

That is not a good idea. I mean if the banks are providing better loan features with less interest rates then why would someone go to third parties. Obviously they will charge higher than what bank will charge.

 

[Setfragil]

It depends on the type of business that he want to do and the size will determine the amounts of money that he will need to start a business. He can source for funds from friends and family.

 

[Kelly5]

I will advise the entrepreneur to start by making adequate savings for the business from his personal money or income. Or he should bring in somebody to help in the sponsoring of the business if the person will believe in the business

 

[Sotherefore]

It depends on the type of business that he want to do and the size will determine the amounts of money that he will need to start a business. He can source for funds from friends and family.

Ii Is

I will advise the entrepreneur to start by making adequate savings for the business from his personal money or income. Or he should bring in somebody to help in the sponsoring of the business if the person will believe in the business

There is nothing wrong if they are getting the money from families and friends as long as they do not get a loan, saving is also very important because you still need to get extra money even after you have gotten some from your friends.

 

[Senator]

As a new business entrepreneur who lacks the capital to fund his new business ideas, there are people that are refered to as what we call angel investors. If you have any contact with these persons and they believe in your business idea,they'll could help you with funds while they invest in your business at the same time

 

[Abigael]

Starting a business with your own savings is such a great thing. You will never worry about having to pay back debtors. For us working online, our earnings can be a great source of income to save for the business.

 

[Setho]

As a new enterpreneur who is looking for how to fund his business, you should consider development loans or grants for small businesses and then economic development loans from banks and financial institutions for big businesses.

 

[Mostee501]

Nice thread to educate each other,i think first of all the new said entrepreneur should consult an expert in the field of investment in other to know how to go about it.

 

[Setfragil]

Funding a business has always been the most difficult task to achieve when establishing a business. You can raise capital through family and friends or through grants from your well wishers.

 

[Bousine123]

My advice would be for him or her to take the time to learn the trade before placing a penny in such venture. You can't be too sure in life.

 

[Sotherefore]

Funding a business has always been the most difficult task to achieve when establishing a business. You can raise capital through family and friends or through grants from your well wishers.

Getting grants loan from government is difficult and if we are waiting for that we might waste our productive years without achieving anything, getting it from family members may be the best option.

 

[Shigobad20201]

I normally advice young entrepreneur like me that borrowing money to start a business will definetely affect the business in the long run, so its better to seek advice and raise money by meeting friends and family.

 

[jeff87]

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.

Young businesses will not last if there is lack in funds. I believe new businesses should have a back up funds. The businessmen should really secure loans from family, friends and banks or financial institutions. New businesses should learn from big businesses how come they have lived long. Its the best thing to do if I were you.

 

[Grandeur]

There are several ways an entrepreneur can find his or her business but I would advise that you do not take a loan except you already have like three backup plans incase anything happens.

 

[Setho]

If the entrepreneur has all wants to start a small business then he can consider grants and donations but if it's a big business then he can consider partnerships or low interest loans

 

[Richard92]

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.

The best way to advise a new entrepreneur on how to fund his business is to simply get money from friends and family and also from a savings I will not advise a new enterpreneur and to go to the bank and get Leon because of the high interest rates.

 

[gammarays]

If it were in a developed country and the business idea is great, I'll advise him to apply or look for Angel investors that can provide funds to run the business. For my country and others, it's better to raise the funds personally.

 

[Yusuf1]

The best way to fund a new business idea is to save up. I really don't like the idea of getting loan to setup a business just because of the fact that the repayment system is always hard to comply with

 

[Setfragil]

Getting grants loan from government is difficult and if we are waiting for that we might waste our productive years without achieving anything, getting it from family members may be the best option.

Government hardly gives grants to start a business, what the government does most times is giving out loans without interest to empower those who are interested in establishing a business.

 

[Sotherefore]

Government hardly gives grants to start a business, what the government does most times is giving out loans without interest to empower those who are interested in establishing a business.

Well the government are not not helping people at all, most loans over here are being given by private business organisations such as banks and world health organisation, world Bank and many others.