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Small Business Tips \ MAR 21st 2016

No Dollar? No Problem! 5 Ways to Fund Your Small Business

It’s no secret that in order to successfully run your own small business, you’ve gotta get your hands on some greenbacks. That’s right, we’re talking cash money. We know what you’re thinking; you’re just a one man or woman show who’s starting out super small (as in, working from your kitchen table small) and while you’re confident you’ll be raking in the big bucks soon, you’re not quite there yet.

As a small business owner, there is so much that needs to be done and so much to prioritize. Sure, you can do a lot more than one may think on a small budget, but it doesn’t hurt to have a little money in your pocket, too. Not sure how to go about raising money for your biz? Relax. We’ve put together 5 ways to fund your small business without even breaking a sweat.

No Dollar? No Problem! 5 Ways to Fund Your Small Business

Crowdfunding

You can have a million dollar idea, but if nobody knows about it, then what’s the point? The easiest (and most fun) way to go about getting your business some cash is to set up a crowdfunding website. Choose a stunning template and make your case through compelling text and images, and of course, make sure you’ve got a big ‘Donate’ button front and center.

Encourage visitors to subscribe to your website via the Wix Get Subscribers app from the Wix App Market. Down the line, you’ll be able to keep everyone up-to-date on what’s happening with your business by sending them a ShoutOut straight to their inbox.

Be sure to maintain a presence on your social media channels so people even outside of your network get word of your exciting new venture.

Crowdfunding

Angel Investors

One of the most effective ways to fund your business is through an angel investor. Think it’s hard to find someone ready and willing to invest in your business? Think again! Organizations like FundingPost are set up just for angel investors and venture capitalists to meet people like you and hear your idea. Just be sure to have a solid pitch ready and soon enough, you’ll get your very own angel.

Bootstrapping

Yes, it is totally possible to fund your business without receiving help from the outside. If you’re resourceful, flexible and aren’t afraid of putting in some extra hard work, bootstrapping could be the path for you. With a solid business model, an airtight budget and the confidence that down the line your business will earn you enough to make up for the sweat and tears you will undoubtedly have along the way, getting down and dirty and literally pulling yourself up by your own bootstrap is a noble way to fund your business.

Finding a Partner

With something as important as starting your own business, you may want to consider taking on a partner.Finding someone you know well or know through a connection is a great way to expand your resources. Scout a partner who makes up for what you lack and vice versa. In no time you’ll have formed the dream team and will be well on the path to success!

Find a partner

Applying for Small Business Loans or Grants

Sometimes the best way to go about getting funding for your business is keeping it old school and heading straight to the bank to apply for a loan. The Small Business Administration, or the SBA, has different loans available, but be mindful of the terms and conditions, because no matter what happens to your business – you’ll have to pay the loan back.

On the flip side, the SBA offers grants that you won’t have to pay back. Spend some time researching the different grants you may be eligible for; this is one of your safest options.

Ready to take your small business online? Create a free website with Wix today!

The Wix Team
By The Wix Team

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