Challenges faced raising funds for business

[Augusta]

When it comes to raising money for a business, if you are not using your personal savings then you would be confronted with some challenges.
A lot of businesses were faced with these problems before they were able to sailed through.

These challenges include;

Lack of collateral to quickly get funding: Those that agree to fund your business would always want what they can hold into still you make the last repayment. So without collateral it becomes a challenge.

Being a startup or newbie: Another issue of funding is when you are just starting a business, you can't easily get a funding. it could be lack of trust or just a law put in place to stop funding new businesses.

Lack of powerful Guarantor: This is another challenge posed when funding is needed but no good guarantor. You would be denied

lack of good structure; Another challenge is when there's o good structure of the business inn grounds. it will be a challenge to get funding


Add yours?

 

[Carpon]

This is right and I think to add on the challenges faced is lack of government intervention. The government if really caring should be able to provide grants to people who are having desires to start up a business or owners of businesses.

Furthermore, funds can be raised individually from your savings and passive income earnings. In case where that is not possible, one can still resort to finding support from family, friends, relatives and loved ones. These are ways one can get funds though with the dwindling nature of the economy these days, it might be hard getting funds this way but still a trial ain't wrong.

And also, loans can be gotten to foster your business and there are many easy to get loans.
But the place of hard work is always important as you work assiduously, you make your business expand and you can be able to fund it independently.
But personally my views are 5gat your main source of funds should be your savings which must be given much attention and consideration. And that stresses why it is important to save no matter how little because you may not be conscious of when such savings will help and be your last resort in times of need for funds.

 

[saoussen5765]

When a student finishes their studies and wants to open a company then the country will give him a loan with very little interest then there is a big majority of students with fundless so your example is for individuals and not students.