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Funding Your Start-up Business Part 1

So, you’ve got an idea for a new enterprise, you’ve done your research, you know exactly where you want to set up shop and your rearing and ready to go, there’s only one thing holding you back and that thing is money. Yes, that ever elusive asset, it’s what business is all about whether you like it or not and you’ll likely need a fair bit of it to start out with. But where do you get all that green? Well there are actually a few ways you can start yourself with a nice foundation but each way will require a bit of work in order to achieve that initial capital so let’s take a look at a few ways for you to get started and you can decide which is for you. I will say before we get started however it is worth considering trying all of them as opposed to just one, nobody said this was easy after all and it’ll get you used to the amount of work you’re about to take on if you manage to get your business off the ground.

Grants

Grants
Grants

The first thing you want to look into when looking for initial cash injection are the grants that are available for you. Often it will depend on what kind of venture you’re about to take up but it’s worth checking out what your local council offers for people starting business in your area. Often there will schemes run by you council that offer incentives to early entrepreneurs such as yourself, these can simply be a certain amount of money handed to anyone with a worthwhile business plan but sometimes they’ll cover different costs such as a certain amount of stock or a percentage of your start-up costs is also a common offer given out. Once you’ve checked out what your local council offers have a look into what government schemes and lotto funded projects exist out there that could perhaps help you. For example, if you’re project falls into the arts division you can apply for an Arts Council grant and so on. Really do your research here and remember that though each application will require a lot of work they are absolutely worth it, what you are essentially getting here is free money so just think of it as a cash prize for your work if that helps.

Crowdfunding

An excellent way to raise both money and awareness for your new business is through crowdfunding. Though this is usually thought of for independent projects there is no reason you couldn’t set up a campaign for your business too. To raise awareness for your campaign you’ll have to put a lot of effort into marketing it, not only in your local area but through social media outlets too but who knows, if you are successful enough you might find that people all over the world have been inspired by your vision and are willing to put some of their hard earned wages into your pocket.

Crowdfunding
Crowdfunding

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