We see a lot of new start-ups coming every day, every month. They are scattered across the fields and are seen in every industry, be it the food or the boutique, or the technology services. So, how do they gain access? Is it that everyone has enough money to start-up a new venture?
Well, that’s not true always, but there are few sources that can help you in getting your business rolled out. So, are you looking to start a business of your own? What’s the business all about? Are you sure your idea is the best? There are many, sorry umpteen businesses in the food industry, every nook and corner of the street has a new café in the coming and newly themed menus on the table. So, what else can be on your list?
Are you planning to start a boutique that caters to wedding gowns and little princess gowns? Well, there are again many competitors already!! When you are starting your business, you must do your bit of research on the type of business you are venturing out on, and your experience in that field. This allows for reducing the initial struggling periods by half.
If your business is something that you know, or in the same field, then you have some experience or knowledge in that which reduces your struggling period to find out how to source the business income. This, in turn, reduces your money loss because you already know the way it works, and hence even requires less working capital. Else, you might have to shell out high working capital, cos losses may be more.
Well, after you have taken a call on your business line, how do you manage your capital investment? If its something in the possible reach, then you could manage by borrowing with your friends and working as partners. What if your business needs more amount, and you know that will bring out great returns? It’s really not possible to borrow from friends and family. The next step is to approach banks for loans, which have varied interest rates.
There is another easier way of reaching out for your investment, by Crowdsourcing.
This is the new way of getting your capital arranged. This is mainly for new start-ups who struggle to get the working capital arranged. This method brings the investors together to invest, in return for their business services given as a reward.