In this eighth part of the series of our ‘Navigating the world of entrepreneurship – How ready are you to start a business?’, we look at exploring funding options for your business.
This step involves exploring various funding options for your new business. After coming up with a great business idea and having determined its viability in the real market environment, you may begin to wonder how you will be funding your business, looking for sources of funding or where to get capital from to take your business idea to the next level.
You may or may not have made your own initial investment in the business at this point but are now ready to learn more about some of the funding options that are available for your business. Some of the funding options include own revenue, bootstrapping, family and friends, debt finance, equity or venture capital, crowdfunding, peer-to-peer lending, asset-based, government and private grants.
Not all funding options are a good fit for your type of business. Therefore you may need to seek professional advise, help and support from financial experts and other relevant professionals to learn more about funding options that available to you or your type of business.
We hope you found the above information enjoyable but most of all helpful!
If you’ve missed any of the series of our ’Navigating the world of entrepreneurship – How ready are you to start a business?’, discover them here.