Sources of funding opportunities
- Bootstrapping
Bootstrapping is a good way to start your business and it refers to the utilization of your own money or borrowing from friends and family. Bootstrapping requires entrepreneurial discipline and financial responsibility to run a business.
- Crowdfunding
Crowdfunding is also an alternative in order to raise funds through crowdfunding platforms.
- Startup competitions
Taking part in and winning Startup competitions can also help you to gather some funds along with gaining some credentials, as well disseminating activities of your business.
- Incubators and accelerators
There is a great number of platforms which function as incubators and accelerators. Such platforms can be really assistive in the first steps of the business pre-revenue. Accelerators and incubators provide the startups with a small amount of funding, mentors, networking opportunities, and resources.
- Government programs
On national level, there are government programs available for every business sector. Depending on your entrepreneurial sector and the needs of your business, you can profit from such programs, ensuring that you meet the requirements for these.
- Equity investors
Equity investors can also prove to be a funding resource. In this framework, there are angel investors who invest their own money on specific startup sectors and phases.
- Debt investors
Debt investors are usually banks and commercial institutions. The most known form of debt funding is through credit cards. Except from credit cards, personal loans are the most popular investment paths for funding. For personal loans a business plan is not required. Personal loans would also have a personal liability to pay back and interest rates are comparatively higher than commercial loans.
