Options to get your small business some private financing

[GIFTMICHAEL]

When starting a business, one of the main problem is where to get some funds for it to start. Below are some of my options.

1. Personal Investment
Taking out a loan or borrowing from friends and family are non-starters for certain small business owners. They may not want to accumulate debt and instead use their savings to get up and running (or sell an asset, such as a vehicle).

2. Colleagues
Family or friends' support may be given as a donation, interest or interest-free loan, or in return for an equity interest in your business. Be careful however, though. If the investment doesn't work out or you can't repay the loan, for those that you care deeply for, it may trigger lasting discord.

3. Crowdfunding
There are many websites for crowdfunding that allow entrepreneurs to raise money for their ideas. In return for helping a product come to life, supporters on websites such as Kickstarter or Indiegogo contribute sums. In return for donations, businesses typically provide incentives.

Do you know any more options? Please share yours in the comment section. Thank you.

Yes you are right i know about crowdfunding or go pay account.
This is a good way to get financial assistance to execute your business idea.
Crowdfunding is a veritable tool to help people that are poor having difficulty with capital to get needed fund to implement their business plan.

 

[Alexandoy]

Crowdfunding is getting popular now. I did that in 1993 when I made a start up with my retailing business. There was a shortage of capital so I wrote an IOU for $20 and distributed it to my close friends and some relatives too. The IOU has a line that says they own part of my business for that particular amount that they invested. So it is not a donation but an investment. The support was overwhelming and I was happy to feel that many believed in me and in my idea.

 

[Sammyesx]

Very good outline, getting a loan is not good for a new business, it puts a lot of undue pressure on the business owner. Fund raising Is also a good option, where you invite close friends to donate for the start of the business

 

[Nabeel119]

if you do decide to seek business funding from friends and family, do yourself a favor: go through all the proper legal channels and have the paperwork professionally prepared.You should also make sure to request a loan, not equity investment. Ask for the latter, and your friends/family will have the legal right to be involved in major decisions involving your business.

 

[Psalmsavatar]

1. Bootstrap your business. ...
2. Launch a crowdfunding campaign. ...
3. Apply for a loan. ...
4. Raise capital by asking friends and family. ...
5. Find an angel investor. ...
6. Get investment from venture capitalists. ...
7. Get the capital you need to drive forward.

 

[joy101]

Getting some loan to start up business I don't think is advisable, before thinking about to start up business you should have some savings, instead of taking a loan to start up business I prefer to save before going into business,