How Were You Able To Raise Up The Required Capital Needed To Set Up Your Business?

[Adebayonle7]

Though my business is a start up and also growing as expected and I am a salary earner at same time, I got capital for my business through saving a larger percentage of my salary every month and at some point had to start small. I declined advises from people who suggested that I take loans because I won't want to use the profits from my small business to service the loans.

 

[Bright7777]

I secured most of my capital while I was working with a bed manufacturing companies where I was the branch manager. I made a lot of money while working there.

 

[Mayox25]

Raising capital for business is one of the most difficult thing. In starting my business I was able to raise capital through the covid 19 loan that I applied for and was given to me by the government and also from a friend.

 

[JoeTom]

Actually, having good minded people around you can be an added advantage. I had to start meeting people introducing my line of business to them and promising to deliver the products to them but I was operating from my friends shop. So I had to still meet these set of people to seek for funds to boost the business, getting feedback from them was how I gathered my capital.

 

[HayKay]

Raising capital for business has been one of the greatest challenges in starting up a business.
One way I recommend is to work for a period of time while using that opportunity to not only raise capital but gain relevant connection and experience - the former is something a lot of people overlook.

 

[tyrim88]

Raising a capital is one of the toughest job for an entrepreneur. Lack of capital is one of the reason why some businesses fail. I save some part of my income when I want to start a business and and then borrow the rest from the friends and family. That was how I raised capital for my first business.

One of the things that can actually make a business owner to be stuck in a particular spot for sometime is the issue of adequate finance to carry out on some of hs ideas concerning growth of his business,some persons after observing their income from their business will decide to go in for loans through financial institution.

 

[Immilash]

exactly,there are many business plans and experience,but capital serves as an hindrance,but for me I take loans from family members or friends,to start a business ,the once that will not put much pressure on me.

 

[Godspower]

I was able to raise capital for my business through donations and support from family members and friends. I also got a loan with little repayment interest to help kickstart the business.

 

[Justin]

I have never started a business therefore I am not in that position yet. However, before I start a business I would like to work for many years to build saving and also knowledge and expertise.

 

[Abigael]

I was able to raise capital for my business through donations and support from family members and friends. I also got a loan with little repayment interest to help kickstart the business.

That is great for you. Getting donations from friends and family to start a business is very great. This is because you don't have to pay them with interest, sometimes you don't pay them back at all.

 

[Lucy ID]

There are different ways to raise funds for your business, first from savings you can save up, from family and friends, finding a co-founder, taking loans, making proposal and many others

 

[kinqzbitz]

Well for me I took a loan from the bank and I was able to start something with it and I so much thank God that I was able to pay back so now I can stand on my own fully

 

[Sotherefore]

I've not yet gotten the enough capital that I needed to establish my business but I have an offline work I do to raise up some money together with some of the money I make on paid to post website, it might take a lot of time but I will definitely get there.

 

[YERUS]

In the the spirit of learning new things about business set ups and acquisition, I came to realize that the most common problem faced by many entrepreneurs here is how to raise capital to set up businesses.

I would really appreciate it if successful business owners we have here can enlighten us on how they were able to realize the required capital they needed to successully set up their business, did you get it through family, savings, grants, or loans?

Please, this will go long way in helping one another on how to raise money for our personal businesses.

I raised the capital for my business through personal savings.
My parents assisted me with 30% of the money i needed.
I think it took me more than a year to raise that capital.

 

[Ghost]

I think one of the best ways to source for capital is through partnerships or investors, these are the best way to get capital for your business. However a lot of people will come and say loans are bad way of starting businesses, yes might just be a bad source of capital to start a business with.

But then for most people loans are the only option. Simply because loans are bad does it mean people should not get loans to start up a business?

 

[Trexxxy]

But then for most people loans are the only option. Simply because loans are bad does it mean people should not get loans to start up a business?

Loans aren't bad actually, especially if the payback and interest are flexible enough for the borrower. I don't think it is bad to secure a loan to start a business, I'm just against it because of the high percentage of new businesses failing.

 

[Hrtbeat]

I raised the expected capital for my business through small savings from the my monthly salary.

 

[Bousine123]

It was not easy to raise money to start my business own business but I requested for loan from the government and I am grateful they offered it without any interest, that was how I was able to start my business

 

[Ghost]

Loans aren't bad actually, especially if the payback and interest are flexible enough for the borrower. I don't think it is bad to secure a loan to start a business, I'm just against it because of the high percentage of new businesses failing.

Yeah. I've also observed this. Most businesses built on loans tends to fall quite early. Maybe the factor of too much interest is the cause

 

[Robust]

I think the main thing to rise money to start a business is to start saving and also start investing in small small business first.