Do you have an entrepreneurial spirit and want to start a business? Starting a business can financially feel very daunting. How does one build something without the money to build it? While you can definitely bootstrap your business with the money you do have saved up, you can also search for options to help you get your business off the group.
While there is a lot of pride in bootstrapping a business, it also comes with many pros and cons. However, when starting a business there is no harm in taking money from outside sources to help bring your vision to life. Whether that’s a bank or loan from friends and family we’re sharing our 5 easy ways to raise money for your business that are not limited to venture capital.
Friends & Family
If you’re clear on how much money you need and the terms in which you want to be paying them back, Friends & Family is the way to go. Or a loan from your parents will be much lower APR than a traditional bank.
ifundwomen is our favorite crowdfunding community and platform. You can promote and support other amazing founders and business owners on this platform. Promote the fundraiser with your community by offering rewards this flexible platform will let you extend your campaign, change your goal and coaches you through the process of raising money.
Kickstarter is an amazing crowdfunding community for getting the word out there. The cons of the platform is that there is little flexibility to your campaign. If you don’t make your goal you won’t be able to keep any of the money raised.
Small Business Loan
If your credit is in good standing, a small business loan with a low interest rate is a great way to start off your business and give yourself ample runway.
0% APR Credit Card
Lastly, a business credit card with 0% APR is a great way to fund and support your business. Look for credit cards that offer first year 0% APR so you can pay it off before the year is over.
Will you use these 5 easy ways to raise money for your business?