Ways to Raise Funds for Your Small Business

Elliot Feuerstein is an officer of the Mira Mesa Shopping Center in San Diego, California. He has been involved in several fundraising operations. Elliot Feuerstein was a member of the foundation board of Sharp hospital, which helped the hospital raise funds for a women’s center.

Raising funds or capital for your business is not particularly one of the easiest things to do. It comes with many roadblocks and challenges that might discourage you if you are not prepared enough.

Most small and medium-scale enterprises (SMEs) acquire funding by borrowing. For instance, in 2020, the Small Business Administration (SBA) noted that about $645 billion worth of loans were given to small businesses. However, there are other ways to raise funding for your business.

Bootstrapping is one of the more effective ways a micro business can raise funding for its operations. As the name implies, it involves funding your own business with your own money. In situations where you are out of funds to run the company, it is advised that you get an APR business card with low interest that allows you to borrow over a time without charging interest.

Crowdfunding is another viable method to raise funds for your business. While crowdfunding, you can raise awareness about your products while raising money to fund it. You can look for investors interested in putting their money into your business. Particularly, you should focus on getting angel investors. However, you must have had a good business plan and an interesting business pitch.

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