7 Ways to Fund Your Start-Up Business

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By: Ana Margarita Olar| Executivechronicles.com

There are articles about business start-ups with zero capital. But the zero there is not an absolute value. Somehow, you need to spend on something to start your business and keep the business going.

Here are some ways that you can try fund your start-up business:

start-up-business

SAVE FROM YOUR SALARY AND WINDFALLS

What do you when you receive your paycheck? Shop till you drop? Eat out at fancy restaurants? Have some night outs with your friends? Save a part of your salary to fund your business.

And instead of spending your windfalls (bonuses and cash gifts), save it up and use it to fund and build your start-up business.

BORROW FROM FRIENDS AND FAMILY

Find people who believe in your aspirations about your business. These people believe in your capabilities.  Ask if they want to be your partner, or to lend you some capital.

Be clear with terms and conditions of your loan so that they will continue to trust you. And most importantly, manage your finances so that you can pay your loans right on schedule.

BARTER

Talk to other business owners if you can provide them with something in exchange for product or material assistance. What services can you render, in exchange for a material or equipment? Learn how you can change products and services instead of paying with cash.

TRY SMALL BUSINESS GRANTS

Government funding at national, state and local levels provides support for the development of new technology, or to help start-up businesses. Explore and learn which government sources are applicable for your business venture.

NEGOTIATE IN ADVANCE WITH POTENTIAL CUSTOMER

There are businesses that are born out boomed out of incidents. Find a customer who has a high demand for your product. Arrange a deal where they can pay you a certain percentage to finance your equipment and production. In return, do your part of the deal.

Give them a great service and products so that they can also help you to find other potential customers as well.

START A CROWDFUNDING CAMPAIGN ONLINE

This is an exciting way to create funds for your start-up business and to market your products. You can take part in online sites such as the Kickstarter. Here, people can pledge to your start-up campaign. They can pre-order your products. This means they pay in advance so that you can have a source of fund to manufacture your products.

As you can see, these strategies need perseverance and commitment. Combined with hard work, and high regard for trust, you can build your business and your fortune as well.