Where to get money to start up your Business

[Makah]

On this thread I will be discussing on how to get money and also different source to get money to start up your own personal business
The first one is getting a Loan, you can' get a loan from different source like acquring a loan from your Family and friends you will explain your flight to them and tell them to sponsor you
The second one is Getting loan from Banks and other financial institution
And you will pay back with interest which is not good for business starter like you and the interest will keep increasing till you pay up and you must also have a Collateral to be given a loan
The collateral might be A Land Or Landed properties, A car and other valuables.

 

[Teatea]

Your first "go to" for startup fund should be you. Self funding is the best, start with whatever capital you have. You can also meet some family members and friends to support or invest in your business idea. Your last resort should be loans, taking loans should be the last option and should only be considered when there is no other way to go about getting funds.

 

[eojo2401]

To get a seed capital or start up capital is not an easy thing but try your best but having a good business idea and plan. Then start small with your savings and request for supports from friends and families. You can also apply for various grant opportunity within and outside the country.

 

[Adetayo100]

There are numerous ways to raise money to startup a business which are saving certain percentage of your salary while you are still working, you can do that for a certain amount of years, another one is family inheritance, you can ask your family and friends to contribute money and raise for you to start up with, there are also government loans initiatives.

 

[Godslamp]

Another way a person can get money to start business is through
Crowdfunding. This is a method of raising funds from individuals, using an internet-based platform. This method depends upon the generosity of people, and upon the exposure your crowdfunding campaign receives. To have a successful crowdsourcing endeavor, you must be able to win the crowd's support. They'll want to know why you need the money and may want a reason to contribute. Create a reasonable monetary goal, and decide on a reward for the crowd that assists you. This could be public recognition for donations or letting them be the first ones to receive your product.

 

[Godslamp]

When starting a business, your first investor should be yourself—either with your own cash or with collateral on your assets. This proves to investors and bankers that you have a long-term commitment to your project and that you are ready to take risks. Money loaned by a spouse, parents, family or friends which is money that will be repaid later as your business profits increase.
When borrowing love money, you should be aware that:Family and friends rarely have much capital. They may want to have equity in your business. A business relationship with family or friends should never be taken lightly

 

[Maphalle]

You may use different ways toacquire capitalro Starr a business. It willalso depend on the kind of business you want to start, businesses like a restaurant and supermarkets, you may consider franchising. But If you will start some small business you can start small and develop it or loan the capital but making sure you own about 70% of your initial capital.

 

[kayode10]

Getting the capital from the friends and family is one of the easy ways of raising capital for your business. You just have to convince them that they are going to get their money back together with the interest on it.

Not everyone of them will give you money to finance your business. It should be known that this does not make them a bad person or you don't want your progress. You might have another important things they want to do with their money.

 

[Mataracy]

Where to get money to start a business depend on how you want it.
If you are the type that has been doing cooperative before you can apply for loan in which you paid back after succeeding in business.
You can also take loan from bank.
You can also borrow from friend in agreement of return it back at certain date or period.

 

[Hena101]

There are many places to go and collect loan to start a business like banks, organization and cooperate affairs all give loan go people to start a business and then later pay back with interest. But to that's wrong to go and collect loan to start a business is better to start with your own money so that even if you failed it's your money not someone else and this will give you peace because you will never be under pressure on how will i pay back this loan and so on and so forth

 

[Abbeyola]

On this thread I will be discussing on how to get money and also different source to get money to start up your own personal business
The first one is getting a Loan, you can' get a loan from different source like acquring a loan from your Family and friends you will explain your flight to them and tell them to sponsor you
The second one is Getting loan from Banks and other financial institution
And you will pay back with interest which is not good for business starter like you and the interest will keep increasing till you pay up and you must also have a Collateral to be given a loan
The collateral might be A Land Or Landed properties, A car and other valuables.

Where to get start up capital to establish and start a business organization depends on how you want the business organization should be, is it a small scale business enterprise or organization or, a large scale enterprise in terms of a bigger business organization, if it a small scale business enterprise then through personal savings can help in the investment purposes and if it a large scale business enterprise then government grant with little interest rate is okay.

 

[Snazzy001]

this is really very interesting to talk about .how to get capital and run a business has been a problem to many people before now and myself for example .I had many business plans but no capital to run it .thanks to the era we find ourself in now.it is very easy to find many institutions who are ready to fund your business and what you make something tangible out of it

 

[btaliat]

I do advise people to start their business with either saving or investment money. Don't go out borrowing money because it always slow down the rate of the growth of the business. Some people that obtained loan from banks to start a business may regret it because business is a risk that can go either way.

 

[Shigobad2020]

I have only two solutions to getting money to start your own business, getting a loan form a loan shark is not part of it because the interest will kill you quickly, bank loans too is out of it, you can borrow money from family , friends or better join a cooperative society, they are the ones that can borrow you money without interest.

 

[Timison]

Yes, you are very correct, but it is not too advisable to borrow the whole money to start up a business, at least one should own 50% of the start up capital.

 

[Victor001]

To buttress your point,starting a business on loan and starting with your funds is dependent on the profit margin or interest rate of the business,you need to consider long term and short term growth, before running your business,also consider cases of loss or profit,how you will manage it, because business is dynamic.

 

[Daykas]

The best place to get money for business is by collecting from family members or friends.
You can get a money to start up a business from an organization that has low interest rate once you are sure you business will yield.
Or borrow from any of the microfinance banks

 

[Samuel72]

According to my own point of view there are many ways and many place you can get money to start up your own business it all depends on which area you prefer to use. if you're about to start a business and you don't have much money on ground you can borrow from your family friends and your brother or sister, this is because they are the one more closer to you, and should be supporting you in time like this. But it's still possible for you to borrow from the bank or better still get a loan from any financial organisation

 

[Olajidey]

I always advise that to start a business always start with your own money, you will be able to concentrate on the business because no pressure will be on your neck and you will monitor your business closely. But borrowing money to start a business you will be in hurry to make a profit to start your business and in the process, you might have an issue.

 

[Taiwoayan]

Money can be gotten from so many ways to start a business. Family contributions can help, loan from bank,
Cooperative society and many other ways to get capital for business. Another way is to take up a salary job and save the salary up till desired amount has been gotten