Starting a business is never cheap. We may kid ourselves we can get off the ground with $1000 in the bank, but that just isn’t realistic. Even if that small sum covered equipment costs in the early days, there’s no chance it’d cover your marketing budget. And, if you can’t afford marketing, you may as well stop trying to make a go of things now.
The good news is, it is true that you don’t need money in the bank to get going. It would help, of course. But, there are funding options out there which could help, too. And, no we aren’t talking about going on Dragons Den and appealing to Deborah Meaden’s better nature. Instead, it’s possible to find funding with nothing more than your computer to hand. And, here’s how you can do it.
Apply for loans online
Loans are, by far, the most widely known form of business finance available. Just about any bank offers some form of a small business loan which could see you through those starting stages. In the past, applying for these would have put you in a pretty Dragons Den style situation. You would have had to don a suit and pitch your product to the bank. But, the online world has done away with the need for awkward presentations. Now, it’s possible to apply and gain approval online. Which means you could start buying materials by the end of the day. All you need to do is decide which type of online loan is for you, then fill out those forms. Admittedly, you may be looking at smaller sums here than from your bank. But, this could still be a fantastic way to find your footing.
Trading stands to help your finances in two significant ways. On the one hand, dealing in stocks yourself stands to increase your funds and finance your business. In fact, by doing your research through companies like CMC Markets, you stand a pretty good chance of earning money back this way. If that doesn’t suit, you could always sell stocks in your company as a way to raise capital. More startups take this option than you might realize. While this does have the downside of relinquishing some control, it may be the fastest way to compile big bucks.
Seal those deals
Some companies also gain funds by appealing to bigger businesses. Sometimes, this means selling stocks as mentioned above. Other times, you may want big contracts which fund you going forward. Either way, you can make use of your computer here, too. For one, find new connections with quick searches on sites like Linkedin. You can then make yourself known by sending out some emails. If those individuals like what they hear, you could even arrange a video call conference instead of a real-life meeting. Often, you’ll find this easy form of communication works best for investors too. Before you know it, you could be quids in without even leaving your computer chair.