How do I get funding for a business startup?
I want to sell purified water to supermarkets and garages. Also sell to walk ins but I do not have capital. I will also supply functions
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Jun 15, 2020
I suggest you to go step-by-step to get funds on the basis of the size of your business has been grown so far.
1. Let’s say if you have an idea for your product to start-up a business. You need some capital to set it up which can be arranged by family or friends or your own savings.
2. You have set-up the business, now need more capital to expand your business. Then to get enough capital, you need to look for small investors. This needs research and time.
· Prepare a list of investors and approach them.
· Look for online news articles for recent transactions by VCs.
· Crowdfunding platforms - they provide you small amount of fund raised by large number of people. Some of them are LetsVenture, GoFundMe, Kickstarter, Circleup
· Check of online services like LetsVenture, GREX, etc. Here, once you register, you can find various investors and raise capital for the growth of your business.
3. Now when you have a proven business model and you only need large amount of funds to expand your business. For this Venture Capital funding (also known as VC funding) comes into picture. They are kind of private equity firms, invest in SMEs with high growth potential. That means, they will look into your numbers, forecasting, your future planning, your plans with the investment and all of this with all the seriousness in the world. And this makes it tough to find them and tougher to convince them.
4. Go online and find them on platforms like GREX, LetsVenture etc. Details of these platforms can be found on news. Where LetsVenture has provided seed funding, angel investors to around 150 start-ups, GREX has completed 3 transactions between high growth SMEs & VC.
Regards,
Akshay
Business Manager - Apps4Rent | CloudDesktopOnline | O365CloudExperts
Jun 12, 2020
You will need to start with a detailed cash flow forecast so you know how much money you need to raise. Once you are in the revenue phase, factoring your invoices will help you speed up your cash flow without going into debt or selling equity. If you have questions please call.
Brad Gurney
American Receivable
1-800-297-6652
Jun 10, 2020
The easiest way to start is talking with family and friends. This is called "Angel Investors". Make a business plan and offer them either a loan with repayment of the principal plus interest or ownership for contributing start up capital. It is important to know your business inside and out so that you can convince banks or investors to invest. Hope that helps!
Jun 9, 2020
Hi Onke,
The easiest way to start is talking with family and friends. This is called "Angel Investors". Make a business plan and offer them either a loan with repayment of the principal plus interest or ownership for contributing start up capital. It is important to know your business inside and out so that you can convince banks or investors to invest. Hope that helps!