There are many benefits of funding your own business, but it’s not always easy to find the money. Generation Z is leaning toward crowdfunding as a new way for startups and small businesses to raise capital.
There are a lot of would-be entrepreneurs out there that have excellent ideas but little money to put into their business.
So many individuals have told me over the past 14 years that there are grants available to help fund a company. And I’ve had a lot of people ask me where the grant money is. I’ve never discovered a grant that funds the start-up of a company in all that time.
There are government training programs that support a portion of the salary of a new, eligible employee who receives on-the-job training and works for your business full-time. There are also federal tax incentives for new recruits to have the same working and training circumstances as existing employees. However, I am not aware of any programs that offer investment money for the start-up and running of a business.
If you don’t have enough collateral, excellent credit, or cash to fund the start-up of your company, you’ll need to start searching for a partner or partners that have the funds, want to be a part of this kind of endeavor, and require the talents and ideas you have to make it successful.
If you own your house, the only other option I can think of is to refinance or take out a home renovation loan (second lien). If you’re serious about your goals, forming a partnership may be the best option. Otherwise, you may need the assistance of a “angel” investor.
Frequently Asked Questions
How do I fund a business with no money?
A: You need to have a business idea that does not require any money in order to get started.
How can I generate funds for my business?
A: This is a complicated question. I have no idea what you are asking, but there are many ways to generate funds for your business including by making donations, starting an ICO or crowdfunding campaign, and more.