So you have your business idea. Your products and services are desperately straining at the leash waiting to get out there and make you some money. You have done your research and you know that there is a gap in the market wide enough for your business to succeed. But you need some capital. Where do you go?
The Good Old Bank Loan
Well the standard route for entrepreneurs wanting to launch a new venture would be to talk to the bank. All of the main banks and financial institutions offer start-up loans for new businesses and comparison sites such as Money Supermarket can give you an indication of rates.
More often these days however start-ups are looking to Alternative Finance to get their ideas off the ground. You may choose peer to peer methods from companies like Ratesetter, Zopa, Funding Circle, ThinCats, LendInvest and MarketInvest all explained nicely on Befuddled .
Or if you are ready for some close public scrutiny you may choose to put your idea up as a crowdfunding opportunity. Read this article by Steve Fiore as it contains some really good advice for anyone interested in getting start up capital via crowdfunding sites
If you are looking to invest in a crowdfunding opportunity then check out MoneyWeek’s funding centre comparison tool which will help you to navigate the many opportunities out there.
If you are looking for capital in order to fund a website for your business then talk to us at Magpie Image Ltd about our payment options and monthly subscriptions. You may just find that you don’t need quite as much start up capital as you first thought!