Funding ideas for your business start-up
Because of the Internet, many people just like you have seriously considered starting an online business – if not for a measure of financial liberation, then because they’ve been mulling over a product or service and want to share it with the world. Although it’s easier than ever before to start your own SMB, the problem of funding remains; you can only use so much of your own money before you have to return to a paying job to avoid going into debt.
Funding Your Start-Up Business
There are many success stories of start-ups that sought financial aid from family and friends to get their business rolling. This is always a contentious issue; after all, you might think – “don’t they need that money for their daily lives? What if I can’t get it back to them in a timely fashion?” So, if you don’t feel comfortable asking, there are a plethora of start-up business funding ideas. Consider the following options:
1. The Government is Here to Help – SBA Loans
Given that this time period is one in which more home-based businesses than ever have sprung up, the Small Business Administration of the U.S. government realized the need to encourage entrepreneurs to do so. You stand a great chance of securing a so-called microloan through local outlets in your state. The loan amounts tend to range from about $11,000 to $35,000, and the participating agencies are discoverable through the SBA website.
2. Save Up Your Money and Open a Business you’re Familiar With
This might seem obvious at first, but you’d be surprised how many people want to start businesses that they have absolutely no experience with. Take the case of barista in a coffee shop, or professional office cleaning services. For example, if you used to work as a janitor or in the cleaning space, then you might consider an office cleaning service as a start-up.
Why not? You have the experience, and understand much of the ins-and-outs. Not only is there plenty of business, since every building from residential to commercial has to be cleaned – it’s guaranteed repeat business; dirt and disarray are recurring problems. You have contacts in the business from working for someone else, so there are advantages right at the start; you may even be able to secure equipment at discounted prices because of those contacts. This doesn’t go for office cleaning, of course – any business with which you’re familiar and have worked for years as an employee will do.
3. Crowdfunding is Growing in Popularity
Crowdfunding has a head of steam like never before thanks to the Internet. It consists of getting groups of people to resonate with your message; in turn, they will donate money to your start-up to help with fees. This money is not a loan; but, as you can imagine, the key is to somehow have your voice be heard from the countless others trying to get funds from the crowd. It helps to have a vision and campaign slogan; how does your business plan to make the world a better place? If you’re starting an office cleaning business, will you plant trees for every corporate building you clean? These are the kinds of ideas that can lead to a successful crowdfunding petition.
The point is that there are no excuses in this new century; if you’ve got a sound business idea – or even a dream – there are resources out there to help you see it to fruition. Get out there and use what’s available; the thing required from you is a capacity for hard work.