Ways to Raise Money to Start Up a Business
Starting up a new business is not a joke. No matter how small your propose business may seem to be, the simple truth is that you will need money. How can you raise enough money to start your own business and at last, be your own boss?
Savings: The best way to start up your own business with little or no worry is to save up the capital yourself. You can do this by opening a separate bank account or and an insurance policy for this purpose and within few years, you will be able to have enough money to be your own boss.
Friends and family: The second way you can raise money for your business is by getting a loan from a friend or a family member. Many entrepreneurs start their business by doing this. You may wonder, why getting a loan from a friend or family? The reason is because your friends and family loves you and they want you to succeed. If you go to them for help, there are more chances they will be ready to help you. Furthermore, one reason for getting help from family or friends is that, they often give loan with interest free and they often ask for no collateral which you can’t access in the bank.
Pension Fund: If you are about to retire and you will like to start up a new business, you can make use of part of your pension to start your business.
Banks: The fourth way you can raise money to start your business is by getting a loan from the bank. But don’t forget that they often require collateral and the interest rate may be high most times. But if you can plan you future business well, your chances of being able to pay back your loan will be high.
How You Fit Get Money Tek Start Your Own Bizness
To tek start your own bizness no be moi moi at all. No matter how the bizness fit small reach, the true talk be sey you go need money. The question be sey, how you fit get money tek start your own bizness and at last mek you be your own oga?
Savings: The best wey to start your own bizness na make you save the money yourself.
With that, you go get rest of mind as you dey do your bizness. You fit open bank account to take save the money or you fit open policy with insurance company. Before you open eye close am, you go done save beta money to take start your own biz and at last, you fit be your own oga for life.
Friends and family: The second wey to tek save money for your bizness na to go meet your friend or any one for your family.Na like this many bizness pipul tek start their own bizness. You fit dey reason am say why you need to go ask for loan from a friend or relative? The reason be sey those pipul know you wella, dem no sey you no go fit cut back. Another advantage wey dey there be sey, them no go ask you make you go bring document for your house or car to tek do collateral.
Pension Fund: If e remain small mek you retire and you wan start your own bizness, you fit use your pension money or part of am tek arrange your biz.
Banks: The fourth wey to take raise money tek start you won bizness na to go collect loan from bank. I beg, remember sey nothing goes for nothing o, bank go ask you mek you brink collateral and the interest wey dem go put on top no be small o. But if you fit plan you bizness well well, you go fit pay back the money wey you borrow from dem and your bizness go still dey go well.