If you have a great business idea, it will remain simply an idea unless you can raise the capital to make it a reality, and as a majority of new businesses fail during the first 6 months to one year, due to lack of funding. If you are at the stage where you are looking for ways to fund aa start-up, here are a few ideas on how to raise the necessary capital.
- Release the Equity in your Home – In the event you have some equity in your home, you can take out a re-mortgage, which will enable you to get your hands on the built-up equity in your property. If you have been paying a mortgage for 10-15 years, the chances are you have already got a considerable amount tied into the property and changing your mortgage would allow you to access that wealth.
- The Online Lender – Forget asking your bank manager for a business start-up loan, as this takes weeks, if not months, and in many cases, people are rejected, due to the lending requirements of a bank. Simply search online and you will find quick cash loans from Nimble, a leading Australian online lender who has helped thousands of Australian people get their business off the ground. The online lender usually gives you an answer within minutes of applying for a business start-up loan, and in most cases, the funds are transferred into your account on the very same day.
- Selling Assets – If you have second home or a nice car, you could sell an asset or two to give you the finances you need to set up the business. It might be a plot of land that you acquired to build your retirement home in the future, or an asset that you inherited from a deceased family member, or even a collection of valuable antiques. You could sell any stocks or shares that you own, or cash in an insurance policy that has accrued wealth, so do check to see what you own that could be sold. Here is some information on how long it takes to register a business name, which is worth the read.
- Find a Sleeping Partner – If you are very confident in your business idea, why not look for a private investor? There are investors who are looking to invest in new ventures, and if your business plan is comprehensive and you can answer any questions the investor might have, there’s every chance that they will see a good opportunity and agree to fund the business. There are websites to connect investors with entrepreneurs, and with some online searching, you will be able to post your business proposition and see what the response is. Here is some government advice regarding setting up a business in Australia, which should answer any questions you might have.
It is, of course, imperative that you do have the funds before you start to do anything, and from the above list, there will likely be a suitable way to generate the necessary funding to launch your business. If you are met with resistance, do not let that affect your optimism, as every successful entrepreneur will tell you never to give up on your dream.
Laila Azzahra is a professional writer and blogger that loves to write about technology, business, entertainment, science, and health.