Small Ways in Funding Your Small Business
A lot of small businesses nowadays are struggling to keep up with the fast pace of industrialization and modernization. In order to compete, you have to be more creative and think of out-of-box thinking. Small businesses have traditionally been the key driver for economic recovery when it comes to hiring, but hiring requires capital, and capital can be hard to come by. In order for you to find solutions for your unending financial needs, Axis Capital Group Business Funding, which has serviced the United States and now expands to Jakarta, Indonesia, has prepared ways for you to get started with your small business:
• Do it yourself.
Most entrepreneurs and small business owners these days have come to the realization that they will have to self-fund (also known as “boot-strapping”) their projects for a significant amount of time until more formal funding opportunities become realistic. Before starting a business, of course, business owners should already have this outlook that you have to spend for your own somehow. If you believe in your vision and have an absolute refusal to accept failure as an option, you should feel comfortable investing you own money into the business. In turn, this will make potential investors more comfortable knowing you have skin in the game.
• Friends, family, and fools.
Review who are closest to you. Those closest to you are more likely than anyone to believe not only in your vision, but your ability to make that vision a reality. One downside of course is that you are potentially risking personal relationships should the business fail and your agreement not be structured properly. Juts borrow enough money which you can’t afford to set up your website and such so as not to burn any bridges around you. You might be faced with tons of complaints even before you are starting.
• Small business loans.
Yes, this do exists and we happen to be in this business. We are in fact extending even in Asia including Jakarta, Indonesia, Singapore and Hong Kong. Since banks are stricter and harder to deal with, lenders like us came into being. Another reason to pursue debt financing is that you aren’t giving away a piece of your business.
Regardless of which path you take, chances are that you may do all of these at some point as your business grows. At the end of the day, you have a business to run and none of these matters unless it has your full attention. So find a viable funding solution that also allows you to maintain operations and focus on profitability.