Q21. If you are planning to raise capital for your start up, what would be your options.
6
Explain in details.
Answers
Answer:
Here are a few tips on the procedure you can adopt, in order to source for the required funding for your startup.
Bootstrapping your business. ...
Crowdfunding. ...
Seek Angel Investment for Your Startup. ...
Seek Venture Capital for your Startup. ...
Seeking Funds from Business Incubators and Accelerators. ...
Source Funds by winning contests...
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1.Bootstrap your business
Provided that your business isn’t operating in an industry that requires lots of startup capital, like manufacturing or transportation, you can potentially fund your own venture—and it may be more feasible than you think.
For instance, even if you don’t have enough in savings to run the operation, you could get a 0% / low interest APR business credit card, offering you the chance to borrow cash for a period of time without incurring interest.
Perhaps you think funding the business yourself carries lots of risk—and it does. But it’s important to consider your potential.
Brent Gleeson, a leadership and team building coach specializing in organizational transformations, states, “if you believe in your vision and have an absolute refusal to accept failure as an option, you should feel comfortable investing your own money into the business.”
Investing some of your own money will usually make investors and lenders more willing to partner with you down the line.