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How to get funds before starting a business

When thinking to create a business, we need to consider the idea of business, business scale, competition, market demand, manpower, and the most important thing is the availability of venture capital and its source. The capital /  funding is the foundation we that will be built.

But keep in mind capital aren't just money or assets, but could also be in the form of knowledge towards these efforts, experience, courage, as well as networking. But most aspiring entrepreneurs usually meet obstacles in getting capital in the form of money or assets.

Therefore, the question is how to obtain venture capital to start the business scale of micro, small and medium enterprises.

There are some alternatives that can be used to obtain funds for starting a business, such as:

1. Own funds

get funds to start business
You can obtain the venture capital by using your own funds. For example, by using existing savings deposit that you saved so far. If that's not enough, then you can also cover the shortage of funds is by selling the most valuable asset you have such as precious metals, jewels, or car.

There is no harm to sacrifice for business success, let's just say you are invested to earn a bigger profit.

2. Look for Company Grants

Capital can also be obtained from the Fund grants Corporation, both the Government and private companies. Big companies usually have their own budget or budget to help build the economy of the community around the company as well as the general public with channeling funds through the venture capital.

For the distribution of funds the company usually held a competition. Therefore, the event is an opportunity for prospective employers to get additional funds for the continuity of the business.

3. Partnership

If you have friends or relatives who have the same interests and wants to join your business, this could also be an option. The business associates could be just giving aid in the form of capital, but they can also help in daily business operations.

You should also agree on things like profit sharing so that neither party feels wronged. The deal will need to be made in the form of a written agreement to anticipate when something happens at a later date.

4. Find investors

Similar to the partnership, this also helps get funding from third parties. The difference is, the investor gives only capital without participating directly in the operations. The other thing is the same as the above way, things like profit sharing or other agreements must be made in the form of a written agreement so the two sides there is nothing to feel aggrieved when there's something wrong in the future.

5. Loan Capital from the Bank

You can also apply for a business loan from the Bank. Prior approval, usually the Bank wanted to know business profile that you will create through a proposal or asks you to deliver a business Feasibility Study.

If your loan approved, You have to pay loans interest which varies between 8% to 15% per year. Unfortunately, in the early stages of building your business it's usually a rare case that Bank will give you loans, but it doesn't hurt to try.

6. Propose to the Cooperative Venture capital loan

If the bank loan has very strict requirements, then the other alternative is applying for loans through cooperatives. Much like a loan application to the bank, the Cooperative also requires business profile, feasibility study and business plan.

As for the interest rate; it could be higher than bank loans. But if you earn profits high enough to cover the cost of these loans, cooperatives deserve to be one of the alternatives.

We suggest you to set up a business profile such a proposal, feasibility study aimed to assess the feasibility of the implementation of a business in terms of the Financial Benefits, Macro Economy Benefit, Social Benefit received relating to the business community that you build.

Well, it's not hard to understand and right? Remember, there is always a way if you dare to try all possibilities.


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