7 WAYS TO SOURCE CAPITAL FOR A BUSINESS STARTUP

7 WAYS TO SOURCE CAPITAL FOR A BUSINESS STARTUP


As we all know, the most glaring thing in starting and running a business perfectly well is Capital. Once there’s limited or no capital, an entrepreneur might get frustrated and end up not venturing into their intended Business or may give up sooner than later. It’s been a long time I have been thinking about this, today I finally decided to write about it. By the way, do you know the 7 ways to source capital for a business startup?


1. PERSONAL SAVINGS

Almost 80% of people find it difficult to save any money that comes their way no matter how little it may look. Note that for any entrepreneur who has a set target, he or she must learn to have a treasury account where he or she saves no matter the amount so as to meet up with the said plans in starting up the business. Never forget that part of any money you get as a gift or as the one you earn from a work is part of yours to save.

2. YOUR ASSETS

So many people feel and think it’s taboo to sell their personal assets but the truth is that, if the purpose of selling it is worth the business you’re venturing into, then it’s a welcome habit by me. Don’t forget that, the assets you sell today can replicate themselves when the said business comes true.


3. FROM RELATIONS AND FRIENDS

The most common source of capital to start up a business is from Family and Friends. if you have friends and family members who are well to do, you can share your vision and mission with them with the anticipation of securing financial aid from them. They might end up becoming the backbone of the business but that doesn’t mean they are the owners of the business. Their duty is just to give you u financial aid and you both can settle on how the return will be.

4. FROM NON GOVERNMENTAL AGENCIES

Agencies like ECOWAS gives assistance to entrepreneurs whose Business ideas will be of great benefits not just to the Business owner alone but to the world at large. So as entrepreneurs, you can source Capital from NGOs only if your ideas are well documented and presented. This is one of the great ways of gaining financial aid in starting your dream Business.


5. FROM COOPERATIVE SOCIETIES

This is another good way of raising funds in starting your business. This process involves a collection of members who tends to save money in a treasury bank for the purpose of her members getting loans. As an entrepreneur, seeking funds in starting a business from cooperative societies, the entrepreneur must apply for o loan from the society with the hope of paying it back at a stipulated time. So many have gained financial help in starting their business through this process.


6. FROM DAILY, WEEKLY OR MONTHLY CONTRIBUTION

So many people today we’re able to raise funds in starting their business through daily, weekly, or monthly contributions. In this aspect, People come together to form a team of members and they agree on a fixed amount to be paid at intervals bases on the agreement and then this money will be given to a particular individual or two as the case may be or as agreed by the people involved. As a result of this, one can able to raise funds in starting his or her business comfortably. Remember, this must be done among trusted People.


7. FROM BANKS

Almost 99% of Businesses need funds from banks so as to help them stand.ย Banks are a good source of raising funds. Entrepreneurs can seek financial help from banks through loans so as to help them build and grow their businesses. Although, most banks like BANK OF INDUSTRY and CENTRAL Banks give out loans to small-scale and Large scale Business owners with a longer duration of 2 or 3 years in paying back. Entrepreneurs can hijack these Opportunities and decide to partake in them. Don’t forget that, the bank loan is a great source of funds in starting your business.
Do you know of any other sources?Do you know of anyone in need of Capital in starting up a business? Then do well to share this piece with them as it will help them make good choices on how to start up their business.Thanks

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16 comments on “7 WAYS TO SOURCE CAPITAL FOR A BUSINESS STARTUP

  • Aderemi Adeyanju , Direct link to comment

    Wow! So motivating. Thanks so very much momma Dearsonma. More of God’s grace to you ๐Ÿ™๐Ÿ™๐Ÿ™

  • Miracle chizzy , Direct link to comment

    Thanks a lot for the business talk at least I know know a lot about how to start up a business and my lost in the business

    • Amaka onyebuchi , Direct link to comment

      I love the write up and it really strengthen my hopeless faith again… Thanks Dear Sonma

  • Jennifer Mensah , Direct link to comment

    No 1 is the plug but I hope I can join more options.thank you Dear Sonma โ™ฅ๏ธโ™ฅ๏ธ
    Phidelis Obaseki you are blessed for this.

  • Chinagorom Samuel , Direct link to comment

    Dear Sonma, thanks so much for this, this is wow although I have been finding it difficult to save

  • Emenandu Patience , Direct link to comment

    Very well presented, am working on one which is daily contribution I believe God will help me achieve my arm… God bless you sonma ๐Ÿ‘ darling ๐Ÿ’‹

  • Adaobi Ezenwa , Direct link to comment

    Am really so happy been one of your fans Dear sonmas,I have learned a lot of things through you thanks very much ๐Ÿ˜ bigger you I pary iseeee ๐Ÿ™

  • Sarah chiemerie , Direct link to comment

    Hi good afternoon,wow I love this words of advice you always give poeple thanks so much I have learnt something’s in this discussion especially number one GOD bless you.

  • Ekwe perpetual Eberechukwu , Direct link to comment

    Thanks for this great information dearsonma,I really appreciate

  • Jane , Direct link to comment

    Thanks for the awesome inspiration sir
    More wisdom
    Thank you mummy Sonma for this opportunity to acquire this

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