What is the best source of capital for businesses

[Mandypaul]

A lot of people have the habits of borrowing money from the bank or any other organisation to start up a business, it is very wrong if you do not have money to start up a business don't do it, you can get money from family and friends and you can also get money from your own work,

 

[Quert]

Personal Investment Your first investor, whether with your own cash or collateral, should be your own. When you start a business. This shows to investors and bankers that you are willing to take chances and have a long-term commitment to your project.

 

[Bookwormlux1]

A lot of people have the habits of borrowing money from the bank or any other organisation to start up a business, it is very wrong if you do not have money to start up a business don't do it, you can get money from family and friends and you can also get money from your own work,

It seems only a few people are being realistic of the fact that these banks are only making money from them whenever they take loans. I always encourage people to start with the little they have got so that they can be able to handle failures, not that you will be thinking of repaying a loan.

 

[Mandypaul]

It seems only a few people are being realistic of the fact that these banks are only making money from them whenever they take loans. I always encourage people to start with the little they have got so that they can be able to handle failures, not that you will be thinking of repaying a loan.

Yes some people may not even be able to concentrate and manage the business they will rather start thinking of how they will be paying back the loan with a short period of time, this always make them to increase the price in there products and services to meet up with the money to pay back the loan which can sometimes lead to failure.
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It seems only a few people are being realistic of the fact that these banks are only making money from them whenever they take loans. I always encourage people to start with the little they have got so that they can be able to handle failures, not that you will be thinking of repaying a loan.

Yes some people may not even be able to concentrate and manage the business they will rather start thinking of how they will be paying back the loan with a short period of time, this always make them to increase the price in there products and services to meet up with the money to pay back the loan which can sometimes lead to failure.

 

[Adventurer]

These days when you talk to people about opening a business, they are always quick to tell you that it isn't advisable to start business with a loan. Where else will you get capital to start?

Before you start a business you must have been able to raise some money probably through savings or from family and friends but if you don't have any money then you're left with no other option than to borrow from bank or Cooperatives.

 

[Donkiz]

When starting a new business try and avoid loan if you can. The best source of capital for a new business is personal savings, in the event that the savings is not enough you can ask for help from family and friends, if the help isn't coming forth, look for a partnership deal.

 

[Godleads1]

It is absolutely true that you don't start a business with loan. It is because while the business is still trying to survive, you might begin to pay back the loan you collected.

 

[jimmann247]

Personally I believe raising fund yourself through your relative and friends when you present a business proposal to them, but before then, you must have save some money, so that you can tell them this is the type of business you are planning on and this is the amount you are able to save.

 

[Oloritoks]

The best source of capital for business is to get soft loans without high interest rate from government because this will help you in growing your business without having much to do with debt issues

 

[Akinwale701]

These days when you talk to people about opening a business, they are always quick to tell you that it isn't advisable to start business with a loan. Where else will you get capital to start?

There are many sources of capital available for a business owner or a potential business owner to choose from - loan from banks, loan from family and friends, and personal finance funds. But as you have asked the best, I will say it's the personal funds, nobody will put unnecessary pressure on you for any interest.
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These days when you talk to people about opening a business, they are always quick to tell you that it isn't advisable to start business with a loan. Where else will you get capital to start?

There are many sources of capital available for a business owner or a potential business owner to choose from - loan from banks, loan from family and friends, and personal finance funds. But as you have asked the best, I will say it's the personal funds, nobody will put unnecessary pressure on you for any interest.

 

[Abbeyola]

The best source of capital for a business will be from a personal savings account or rather from your personal savings. Try as much as possible to avoid the banks of borrowing institutions you can as well try family members.

The best source of capital for business is through personal savings. When you start with your little savings then you don't have to run Helter shelter to pay back loan even when the business is still struggling to survive.

 

[Noor khan]

You can save up some money to run your business instead of relying on anyone for help. You do not need to save much each time. Just saving a little at a time can amount to much at the end of the day. The best way to get fund via this way is to start saving early.

Start saving from the very first day you conceive the idea and it would have amounted to so much after some times. Some are of the opinion that starting with your own savings will prompt you to manage the money very carefully and this can help build up your business within a very short period of time.

Yes the best process to get fund via start saving money for so early and after than It seems only a few people are being realistic of the fact that these banks are only making money from them whenever they take loans. I always encourage people to start with the little they have got so that they can be able to handle failures, not that you will be thinking of repaying a loan. We should also advertise our business through social networking or media also.

 

[Kehinde]

Some of the top ways to raise capital are through angel investors, venture capitalists, government grants, and small business loans. There are other methods for financing such as credit cards or invoice financing, but these should be used only if you need cash quickly and know the risks involved.

 

[Prettyjanie]

The best sources of capital for me are savings and gifts. With these, you are at peace to grow your business, unlike when you get a loan. In the event of any loss, you won't be able to pay back the loan.

 

[Bookwormlux1]

Yes some people may not even be able to concentrate and manage the business they will rather start thinking of how they will be paying back the loan with a short period of time, this always make them to increase the price in there products and services to meet up with the money to pay back the loan which can sometimes lead to failure.
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Yes some people may not even be able to concentrate and manage the business they will rather start thinking of how they will be paying back the loan with a short period of time, this always make them to increase the price in there products and services to meet up with the money to pay back the loan which can sometimes lead to failure.

Increasing the price when there are so many other competitors who would be willing to sell at an even lower rate would be a very wrong move. It is best to avoid any situation that would make you to get to start thinking of a way of repaying loan.

 

[Mandypaul]

Increasing the price when there are so many other competitors who would be willing to sell at an even lower rate would be a very wrong move. It is best to avoid any situation that would make you to get to start thinking of a way of repaying loan.

and the funny thing about business is that when other company that is competing with you finds out that you have increased the price in your goods or services they will automatically have control over you and they will draw all your customers to them self, your business can be at risk of collapsing.

 

[Bookwormlux1]

The best sources of capital for me are savings and gifts. With these, you are at peace to grow your business, unlike when you get a loan. In the event of any loss, you won't be able to pay back the loan.

Savings is a really better alternative, but a lot of people would prefer taking loans because it makes them to start business on a rosy ground without having to pass through difficult times.

 

[Miracles04]

Personal saving

You can save up some money to run your business instead of relying on anyone for help. You do not need to save much each time. Just saving a little at a time can amount to much at the end of the day. The best way to get fund via this way is to start saving early.

Start saving from the very first day you conceive the idea and it would have amounted to so much after some times. Some are of the opinion that starting with your own savings will prompt you to manage the money very carefully and this can help build up your business within a very short period of time.

Partnership

This is yet another way to raise funds for your business in Nigeria. All you have to do is to go into partnership with someone ready to foot the bills to establish the business, while you bring the business idea to the table. The two of your will work based on agreed business formula.

This method had been known to work quite fine over the years. You do not need to depend on the partner alone for the fund. The two of you can team together to raise the funds based on percentage sharing.

Crowd funding

Many people are now into crowd funding as a means to raise funds for business. Truth is crowd funding is not so popular yet in Nigeria as there is yet to be a website set up for that purpose. Be that as it may, it is already being used by many offline. There is however possibility that it will grow more popular online as the years go by.

Crowd funding can come in form of cooperative societies. Another form of crowd funding is via family members and friends. You can equally raise funds through religious groups. . All you have to do is exploit your membership of such a religious group and you will be able to raise funds for the business before long.

Entrepreneurship programme

You can equally enroll in many of the entrepreneurship programs in Nigeria to raise funds for your business. There are many of them there in Nigeria and you can easily join any. What these people do is to listen to your business idea and find out how feasible it is. Then they will consider sponsoring the business based on agreed terms.

They assess your business proposal and those of other members in the program. You are sure of getting the desired fund to finance your business if your business proposal is acceptable. Interestingly, these organizations may not even ask you to pay back what you are being given as business fund.

Sales of assets

There is no point in keeping items you do not need urgently. Why not just sell them off to raise funds for the business? When the business begins to prosper and make good profit, you can always buy those items back. If you have landed properties, you can sell them to raise funds.

Also, there are some items, like cars, electronics and other stuffs you can sell off to raise funds. Raising funds this way will give you peace of mind and you will never have to worry about paying back along with interest. You will be able to do your business with peace of mind and grow at your own pace.

Online business

If the truth must be told, online business costs far less than many of the brick and mortal businesses people do. For one, you will never have to spend so much money to rent shops. You only need to put together a wonderful website and this puts you in good position to get the desired loan. Here is a free phone number budgeting loan, so you can find the best loan for your situation.

A functional business website will only cost just a fraction of the amount you would spend on resting and fitting a brick and mortal shop. Additionally, a website will help take your businesses beyond the limited scope of your environment to far beyond.

You can also raise funds for your brick and mortal business via the internet. There are so many things you can do online to raise funds.

Get an employment

You can also get job to raise funds for your business instead of borrowing or waiting for someone to help you. All you have to do is to do is to simply mange your finances and keep aside particular percentage every month.

You will also have to give yourself a target of how long you want to take to raise the fund needed for the business. You can give yourself a target for 2 years to raise the required fund for the said business.

Visit development bank

Development banks do not charge as much interest rate as other banks. In actual fact, you can also get fund for your business. Many of these development banks have programs in place that can help fund small and medium scale businesses. Examples of such banks are Agricultural Bank and Bank of Industry.

One other thing that makes them helpful is that they do not ask you for collateral in order to give you the required loan for your business. Microfinance banks too are helpful too. Some of them give loans to small scale business and they allow you to make repayment over a given period of time.

 

[Eamodu]

These days when you talk to people about opening a business, they are always quick to tell you that it isn't advisable to start business with a loan. Where else will you get capital to start?

your best source is from your family members and friends. They only can give you money to start a business without expecting you to pay back with much profits. You can also get loans from them without collateral also. They are business you can start small,so getting small loans from family and friends should not be that difficult

 

[Kingsley]

It is always advisable not to start a business with loans and borrowing due the the interest on loan. So one of the business ways to get capital is to raise it by ones personal savings. And probably raising funds from friends and family in other to reduce the risk of pay in interest on loan.
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It is always advisable not to start a business with loans and borrowing due the the interest on loan. So one of the business ways to get capital is to raise it by ones personal savings. And probably raising funds from friends and family in other to reduce the risk of pay in interest on loan.