Finding startup funding can be challenging – here are funding sources you might not have considered.

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Although bank loans, venture capital, credit cards, and personal loans are common funding resources, they might not offer all of the capital you’ll need to get your company off the ground. Here are a few alternative funding sources that could help you get the money and resources you need to start your business.

 

1. Crowdfunding.

Sites like Kickstarter and GoFundMe have become the international face of crowdfunding, but there are other resources that may be more appropriate to your venture. If your startup is in the arts, then ArtistShare can connect you with funders and potential consumers. EquityNet offers entrepreneurs in the tech industry a diverse assortment of funding resources and robust analytics tools that help them shape their business plans.

2. Government grants.

If your business supplies a product or service that is valuable to the education, health, or non-profit sectors, you may be eligible for a state or federal grant. Additionally, your business development strategy could qualify you for a grant. For example, if you’re starting a green business, if you’re a member of an underrepresented community, or if your business may revitalize your community, there are numerous grants available on Grants.gov.

 

3. Startup incubators.

Business incubators are services that offer startup assets, rather than actual funding. They canconnect you with below-market-rate office space, staffing strategies, assistance in developing business plans, and other resources that allow you to develop into a functioning company. Business incubation services are often offered through colleges and universities, and some private companies.

There are abundant creative ways to fund and support your new business venture. Finding sufficient capital to fund a new business is a challenge, but it’s a necessary step to ensure your business development occurs smoothly and successfully.

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April 24th, 2019 by financetwitter

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