You do not always have to head to the bank with an airtight business plan if you want to start your own business. Many other alternatives can soon see you with enough capital to achieve all you need. Let’s take a look at some of the options available to you.
Bitcoin
This unusual digital currency might be the key to your business funding thanks to a process called ‘initial coin offering.’ Hopeful entrepreneurs can sell crypto tokens to potential investors like they would sell shares traditionally. This is a relatively new way of raising funds. Still, it has proven to be extremely effective for some start-ups. If you seek advice in this area, approach a specialized lawyer for initial coin-offering solutions.
Crowdfunding
Crowdfunding has been incredibly popular over the last few decades and will remain so for a very long time. With the many different sites open, entrepreneurs can appeal to the public to fund their businesses. They can select other levels of rewards in exchange for money pledged. For example, someone designing a new computer game might offer a digital download key upon the game’s completion if $10 is engaged.
These sites, like Kickstarter, can hold the money until funding is complete or release it in monthly subscription installments like Patreon. Both are excellent options, depending on your business circumstances.
Contests
Several competitions available to entrepreneurs can land you the capital you need. It may seem a little out there, but if you can put forward a stellar business plan, you may find yourself walking away with some investment. These contests can often have restrictions on them in the same way grants do; for example, they may be looking to target a female-owned business. Look to see if there are any competitions from which you could potentially benefit. Even if you don’t win, you could catch the eye of someone who could give you a helping hand.
Angel Investors
Angel investors have been in the business for years. In exchange for some of the company’s equity, you will receive the money you need for the business and an experienced entrepreneur’s knowledge to guide you. Many industry titans like Google got their first leg-up from an angel investor. They are constantly on the lookout for what might be the new big hit, and their expertise might be able to help you achieve heights you never thought you could.
funding your business needs and deserves now!
Image: Pixabay
