FUND YOUR BIZ TODAY
You probably have a small business or an out-of-the-box idea that you find very hard to execute because of capital. Most of us find money as a road block in our entrepreneurial journey. Whether you are kick-starting your business idea or running a small business that is looking to expand, capital is generally had to come by. Here are a few ways of how you an source for funding:
Friends and family- It has been known as the easiest way to attain capital for just abut anyone. Your friends and family are the first people to know about your business idea. They are the most likely people to believe in your vision and your potential of bringing it into reality. the only downside of this is that there is no formal agreement about any money borrowed from them and can lead to personal misunderstandings and loans. to avoid this, borrow just the right amount of money you need for up to a year and show them the returns by giving back. Build yourself and elevate your business in ways that can evidently be seen.
Small business loan- Most people shy away from this because of the structure of the bank. It is somewhat a stringent way to go but it is not for the weak-hearted. with a bank loan especially for a small business, you are highly likely to be given. the only thing you have to consider is extra hard work so as to gain high profits and returns.
Do it yourself- This is also known as boot strapping. Once you put your eyes on the prize and refuse to accept failure as an option, you will find your own ways of funding your business. if you have passion for it, you will save and leverage other personal means to attain funds for your vision. This will not only up your game in the business but also attract investors because of the self effort that you have put in for yourself.
Angel investor- This is an affluent individual who provides capital for a business start-up usually in exchange for convertible debt or ownership equity. However, every funding has got its own downside. Angel investments bear extremely high risks and are usually subject to dilution from future investment rounds. As such, they require a very high return on investment.
Which way would you rather go? Panga life yako.