Where to Get Money to Start a Business

Brian Winch | July 12, 2017


Source: https://www.businessknowhow.com

The biggest obstacle to starting a business for most people is money. Yet thousands of people every year do find the money to fund their start-up. There are plenty of ways to get money to start a business. Some are risk free while others involve a higher degree of financial risk.

Many people will tap into their savings to get money to start a business. If there aren’t sufficient funds then consider getting a part time job and save up until you have enough money to start your business. You might want to open a separate bank account dedicated to this goal, as you don’t want to risk your entire savings. You still need some savings set aside for emergencies.

You can also live more frugally and invest what you save into your business.  A few simple changes to your lifestyle may save you up to $300 a month and help you get money to start a business. If you’re determined to save money, you can probably find ways to cut your spending and even save on business expenses.

Consider starting your business part time from home as a means to get money to start a business. Your full time job can provide a steady source of income to meet your financial obligations as well as maintain your health care coverage. Operating from home will cost much less money since you won’t have the expense for office space and utilities. Don’t quit your day job until your part time business can replace the income from your full time employment.

Janet Attard offers 17 ways on where to Get Money to Start a Business. Check it out.

https://www.businessknowhow.com/money/startup-money.htm#a2For additional suggestions see, this list of common sources of financing for small businesses as well as the articles on our business loans and financing topic page. Read more…

 

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