Struggling to Fund Your Business? Try These Six Things

If you think you have a really great business idea, but you simply cannot find the funding you need to get your venture off the ground, don’t despair! You may think you’ve tried everything, but if you haven’t tried the ideas below, there is still hope for you yet.

1. Crowdfunding

Crowdfunding sites like Kickstarter and Indiegogo are brilliant platforms for newbies to the world of business, They enable you to create a pitch that showcases your idea to the world. Anyone who is interested in your business then has the opportunity to send you a few pounds, and if enough people do that, you could easily find your great business idea, of course, in order to be successful with crowdfunding, you really do need to have a good idea, and you need to be able to present your pitch in an exciting and informative way, but if you can do that you could be onto a great thing.

2. Private equity firms

Private equity firms like Intrepid Private Capital Group are more likely to take risks on entrepreneurs if they think they have potential. They often have less strict lending criteria than banks and building societies, which means they are better able to take a chance on a wildcard business, which means, you have nothing to lose by getting in touch with them and pitching them your ideas.

3. Start a side hustle

It may seem strange to suggest you start a side hustle when you’re looking to start a new business, but the fact is you need startup capital, and it may be easier to get that money by starting a different side business like dog walking or freelance writing in the first instance., Once you’ve worked your side hustle for a while, you can take the money you saved and invest it in your dream business idea.

4. Grants and prizes

So many people don’t realise that there are lots of grants and prizes out there that will enable budding entrepreneurs to access at least some of the startup capital they need to get their businesses up and running. They aren’t always easy to access, and you will need to have a great idea and an excellent business plan to stand a chance, but you’re an entrepreneur and that means putting the work in to get where you need to be.

5. Angel investors

Angel investors are individuals who have money to spend, and often they will be willing to spend it on your business in exchange for a percentage of ownership in the company.  Often, you will be able to access a small amount of investment from several angels rather than getting the whole amount from one person, which lowers the risk for everyone involved.

6. Dragon’s Den

Why not go on Dragon’s Den and try your luck? If you have a solid idea, even if you don’t secure any finance, you’ll get the exposure that being in national TV brings and maybe that will bring some good fortune your way.

Good luck!