Business is for everyone. Actually, you can start your own venture even if you only have a not-so-big
capital. It is just a matter of smart financing.
Raising a business, it is very important to become wise for everything that involves money. This includes
the finances as well as the expenses you are to pay for the business. Being a beginner at this thing, you
are likely to encounter variety of situations that are inevitable for every business person.
Check out these tips that might help you finance your startup venture wisely:
1. Determine your Source of Fund – First thing to consider before raising a business is to raise a
fund. If you are raising a small business, it is not necessary to have a very big capital, but you
should also remember that you need enough (in case unexpected matter occurs). It is good to
consider self-funding wherein you will earn and save enough money few years or months before
starting your business. This way, you can shoulder the needs while it is not stable.
External Funding is also a needed for some cases. You can consider applying for a credit card
but just make sure to select the ones that offer no or low interest rates.
2. Seek help from family and friends. Since you are just a newbie to business, it is not a big deal to
seek help and support from your family and friends. It is fine to seek for small financial support
from these people as they are definitely the ones that are very excited to see you succeed.
3. Smartly select microloans – seek for a good financing source like microloans that can offer you
small interest. You can seek more loaning companies and select which offers the lowest rate.
4. Do it yourself! Make some of the jobs DIY. Meaning, why pay for a person to do the job if you can
actually do it yourself? Instead of paying for a marketer, you can consider yourself to make sale
presentations, posting on social media and entertaining potential clients. This way you can save
the money you are supposed to pay for the person.
Above are just some of many tips to smartly finance your new business. There are a lot more that you
can do to help you succeed in your chosen venture. Be wise and see your business on top!