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BizReport : Ecommerce : July 24, 2018

Startups and SMBs - Your Guide To Getting Financed

It's not uncommon that you're a small/medium sized business that's blocked by one thing. Startups, you might have encountered this issue as well. Finances. Funding. More specifically, the lack of finances which has stopped so many people from realising their dream of starting a business. It can be difficult to see that you're not getting to where you want to be, but a lot of people don't know how best to go about financing their business. To try and help with this, we're going to be taking a look at a few ways that you can.

Kickstarters and Crowdfunding

One of the first and best ways that you can get your business funded and known is to look for a kickstarter campaign. This is where people recognise the potential in your business, and help you to finance it by providing the money that you need. Their reward for this action will be getting to see your business in its glory, and they'll probably be one of your customers too.

Loans and Vendors

Something else that you can consider when it comes to you and your startup is to consider a loan. There's all kinds of different loans available. Startup loans are designed to get a business on its feet, and debt consolidation loans help to make everything easier. In many instances, it is a much easier process to consolidate all existing loans and debts into a single sum. It is also worth noting that the new sum will sometimes have a lower interest rate, as well as longer payment time. However, this has often been regarded as the easiest and least stressful way to get a small business loan. The type of loan you get can be almost entirely up to you, as the sheer volume and variety of loans means that there's a payment plan for anyone.

Angel Investors

Sometimes people will do things for you without any kind of incentive or immediate gain. Call them random acts of kindness, call it charity... there's all kinds of words for the same thing. In this case, we're referring to angel investors. These are companies and organisations who fund potential businesses for no immediate cost. They might want a cut of your profits at some point, or they may want their services done for free. But the point is, they'll be prepared to help you get started.

Family And Friends

If you want a save and potentially worry free finance option, family and friends are probably a pretty good bet. You should make sure that you're selling it to them in the right way however. Really take the time to show people that your product is the best option. Show them what you plan to do, and how they can help. Most family members will be happy to help you out, because they want to see you succeed.

Overall, these are just a few of the different options for startups and SMB's that are available. Getting financing isn't always easy. We know that it can be a challenge in some instances for people to get on their feet and to start making money. However, looking for the right financial options is well worth the time you put in. You'll be happy to finally get the funding you need, and the knowledge that now you can start properly creating the business you've dreamed of.


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