Alternate ways to get funding for your business

Many a times upcoming entrepreneurs get frustrated due to insufficient funds to launch their business. Nigeria is a country with many aspiring and upcoming entrepreneurs but funding has always been a problem.

In this post we are going to discuss alternate ways this fund your business without the aid of any bank or government which almost every upcoming entrepreneurs have been looking to for funding.
No doubt many banks and private enterprises are out there claiming to give startup loans to aspiring entrepreneurs but receiving such startup capital isn’t easy. You’ll be needing a collateral security, the senior staff may give in to nepotism etc.

Many entrepreneurs have misunderstood business startup fund to necessarily come from a bank meanwhile looking around there are a lot more opportunities open to entrepreneurs.

Though this funding options are legit and sure but they are some qualities expected on your part such as – Possessing a great                             business idea, good business skills, understanding the nature of business you are about venturing into. Alternate ways of obtaining s startup apart from your bank are:

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Your existing retirement plan

Ha ha! You never thought I’d mention that did you? You can request s startup loan from your existing retirement plan which would be easily granted without much a do.

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Sell those company shares

You actually own some company shares you purchased long ago? Sell them! You can make some good monies from this and use it as a startup for your business.
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Social Church Organization

A member of the youth in your local Church, Choir etc  Simply bring your business idea to the members and request for a startup fund and they will be glad to support you
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Find part time gigs

Surely you must have a skill, graphic designing, web development, content developing etc then why not check on fiver.com and freelancer.com for gigs and make quick bucks.
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Get money from your friends and family

Your friends aren’t left out. You can verbally ask your friends for some funds to support your enterprise which you may luckily receive.

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