How Did You Get Capital For Your Business?

[Johnson2468]

When starting a business, a lot of us sought capital.
Some people request money from family and friends, some people take it from their savings, and some people even take loans because they believe that it is the fastest way.
Do you have a business? If yes, how did you raise capital for your business?

I raised money from my savings and get a little support also from family and friends

 

[Bisolami]

There are various ways of which you can fund your business and you could go through different means which could be through loan or crowdfunding.

It is very good to take a loan for your business but I think it is not good to start your business with a loan. It is not a good idea for starters

 

[nomad]

I worked hard, saved money, and used the money to build an online business. I also started small so that I did not have to make a huge investment.

 

[Bisolami]

I worked hard, saved money, and used the money to build an online business. I also started small so that I did not have to make a huge investment.

Presently, I do not have a business but I am trying to save up so that I will be able to start my clothing business very soon. That's my dream business

 

[Springtime]

I don't own a business. I think business owners may use their savings and apply for Government SME loan which requests a lower interest rate to start a business. Getting investments from venture capitalist is also an option if you have an innovative business idea.

 

[Bisolami]

I don't own a business. I think business owners may use their savings and apply for Government SME loan which requests a lower interest rate to start a business. Getting investments from venture capitalist is also an option if you have an innovative business idea.

I also do not have a business but I know a lot of people who took loans to start their business but I don't like the idea of taking loan to start your business

 

[flower]

It is extremely possible to get capitals from different sources and one could use a crowdfunding platform.

 

[Reedex]

I prefer to use my personal funds to sponsor my business than to take loans from the bank.

 

[uptrendfinancialsignal]

I prefer to use my personal funds to sponsor my business than to take loans from the bank.

Obtaining loan from the bank is not really going to work most especially if the business is still new and it's at its cradle.

 

[Reedex]

Obtaining loan from the bank is not really going to work most especially if the business is still new and it's at its cradle.

That is cleverly worded because taking loan from the bank for a new business would be a grave mistake.

 

[uptrendfinancialsignal]

That is cleverly worded because taking loan from the bank for a new business would be a grave mistake.

The reason why it would be a mistake is that the business will take a long time before it starts making profit and you'll be expected to make payment of loans back immediately you have taken it.

 

[LoukiaCharilaou]

I prefer getting capital for my business from my savings because I do not like getting a loan from the bank. It is so stressful for me.

 

[Reedex]

I prefer getting capital for my business from my savings because I do not like getting a loan from the bank. It is so stressful for me.

It is better to use the capital from your savings to establish a business because it would be the best approach to use.

 

[uptrendfinancialsignal]

It is better to use the capital from your savings to establish a business because it would be the best approach to use.

I have fallen victim of taking out loans from the bank to establish a new business and the business ended up collapsing.

 

[Reedex]

I have fallen victim of taking out loans from the bank to establish a new business and the business ended up collapsing.

I can easily tell you the reason why the business collapsed. it is because you are paying back the loan with the capital because the business has not started making profit.

 

[uptrendfinancialsignal]

I can easily tell you the reason why the business collapsed. it is because you are paying back the loan with the capital because the business has not started making profit.

You really understand the intricacies of taking out a loan to start up a new business and that was exactly what happened.

 

[LoukiaCharilaou]

I have fallen victim of taking out loans from the bank to establish a new business and the business ended up collapsing.

I am so sorry to hear about that. For this reason, it is better to stay away from banks.

 

[astutimeliana723]

When starting a business, a lot of us sought capital.
Some people request money from family and friends, some people take it from their savings, and some people even take loans because they believe that it is the fastest way.
Do you have a business? If yes, how did you raise capital for your business?

When I started the business, the capital was from the savings I collected while working. After saving enough for capital I stopped working and started building my own business. Then developed from the profits obtained, little by little growing. I have never thought about getting in debt or borrowing capital from other people.

 

[Niyi Briggs]

I worked for 3 years and saved a.partbof my income to use and start a business. That's why I don't joke with my business. Because I worked and paid the financial price to start the business.

 

[Starmix]

This time, if plan to have another branch of my milk tea business my capital will derive from my savings from the profits of my milk tea business. The feeling is so cool if having enough money from business.