4 sources of business funding for entrepreneurs
Picture this! You’ve been working night and day on an amazing business idea. You have all the details worked out from the products and services to the marketing and pricing strategy, you even have customers who are ready to buy.
There’s just one last item to check off your list: Where to get the money to purchase inventory, buy out the current owner, or acquire equipment?
The ultimate goal in business is to make profit, but in order to make profit; you need connections, resources, and funding to build a sustainable business. You need money to make money, right? Just don’t sign on the dotted line until you’ve explored all the options to fund your dream business.
Where to get money to start or grow business:
Below we’ve highlighted four ways for you to fund your business. You can click through each funding method for more information, including pros and cons, and what to consider before you make your decision:
- Apply for a business loan
- Launch a crowdfunding campaign
- Contact an Investor
- Bootstrap your business
But before you pursue funding…
Before you go after funding, it’s a good idea to make sure you’re officially in business. You can find a helpful overview of the most common business structures right here. If you want to work more on the structure of your business, including a business model, pricing strategies, marketing and more, consider enrolling in programming at Pathway WBC.
If you already know you want to pursue a small business loan, you can fill out our pre-application if a loan from Pathway Lending is a good fit.