According to the latest study, there are more than 94% of new businesses fail during the initial year of operation. The lack of funding turns to be one of the major common reasons. In fact, the money is a bloodline of any business. So almost, every stage of entrepreneurs and businesses are finding themselves asking how I can finance my startup. At present, the funding mainly based on type as well as nature of a business. If you wish to know the ways for increasing money to grow your business, you can simply visit this web link digital edge and get to know the ways. Once you have realized the requirement for fund increasing, here are some of the various sources of finance available, which list 10 funding options for startups that will support you to increase the capital for your business.
Bootstrap your business
The bootstrapping is also called as self funding. Of course, this is one of the most efficient ways of startup financing, especially when you are just beginning your business. Usually, the first time entrepreneurs always have issues for getting funding without even showing some traction as well as plan for the potential success. The bootstrapping can also be considered as an initial funding option; because of its benefits.
Launch a crowd funding campaign
It is also one of the latest methods of funding a startup, which has been getting more popularity. Actually, this is like a pre-order, loan, investment or contribution from more than one individual at a same time. This is how; the crowd funding works. The best thing about crowd funding is producing interest and therefore supports in marketing the product along with financing. You should also keep in mind that the crowd funding is a more competitive position to make funding.
Apply for a loan
With the advancement of technology, there are better new ways of increasing capital and traditional financing products, which remain the basic way of small businesses for funding their operations. According to the survey of SBA, almost 75% of financing for new companies come from the credit cards, lines of credits and business loans. To receive approved from these loans, you want to meet the certain requirements such as have strong annual revenue, have been in business for couples of years or more and also have a good credit.
Ask friends and family
Raising capital via friends and family is a most viable option for many. First, you narrow down the lists of friend or family who have trust that you will succeed, who are clear about the risks and also who understand your plans.
Identify an angel investor
Actually, the angel investors are an accredited individual with the net value beyond $1 million or annual income over $200, 000. Moderately, they process alone or team up with other angel investors in order to make a fund.