1. Facebook Login
  2. |
  3. Sign Up
  4. |
  5. Login
  1. Questions and Answers
  2. Question
 
  1. 2
  2. 0

how can i get funding for my own business to start up?

i am unemployed but have created an idea and would like to get my Busines up and running so at least i would have work and not be unemployed it's so hard to find work hence doing my own products but i need some one to help sponser me i want to make something of my life after all life is too short to be sat at home having ti rely on this Government it's cracking up this country i need to get out there and do something for myself and you only get one chance and this is my only chance to succeed in this world i need this to start up at least i can help others once i start up
 
Asked by ROSSALYND THOMPSON, November 2008   -  Contact this person

7 Answers

  1. Hi Rossalynd,

    There are many places you can seek funding for a new business. Your specific situation is likely to narrow your options. Some details on your business would be useful. You basic options are:

    - Banks (tricky, at the moment)
    - The Government (Look here: http://www.venturenavigator.co.uk/content/126?s=true)
    - The three F's (friends, family and fools!)
    - Private individuals such a business angels

    In all cases, with the possible exception of the F’s, you should get a solid business together with some figures worked out, in order to apply.

    Also, search the community for lot of previous answers to this question!

    Phin
    1. 1
    2. 0
    Answered by Phineas Wenlock, December 2008   -  Contact this person (Edited on 2008-12-02 15:15:46)
  2. Hi,

    Further to Phin's advice, I'd recommend contacting your local enterprise agency and/or Business Link (or national equivalents, depending on which country you're in) and asking if there are start up grants available. Also, as you are unemployed, you may be able to go on a scheme to help you start a business without any benefits being affected - your JobCentre Plus should be able to give you this information.

    Good luck,

    Lee
    1. 1
    2. 0
    Answered by Lee Longstaff, December 2008   -  Contact this person
  3. I have to agree with lee, the business link helped me out with information and as i'm under 30 i was able to get help from the princes trust. Also my local enterprise agency was really good and helpful. They sat down with me and helped draw up a business plan, which is usefull to get grants/loans from anywhere and its also useful for your own records.

    Good luck

    Tom
    1. 2
    2. 0
    Answered by tommy royall, December 2008   -  Contact this person
  4. Rossalynd

    BIz Link are wonderful for advice, but you can waste soooo much time getting advice and info when all you need is money ..... so many people in my humble opinion spend too much time thinking and preparing and not enough DOING.

    If you do REALLY want funding, go to the BBAA website which gives all of the players in the funding market or go straight to www.AngelsDen.co.uk which is the biggest and best player .... they have just completed the 127th deal of the year which is more than ALL of the rest combined. They do charge you £500 upfront though .... they say this separates those that are serious from those just nosing around. They also have the largest number of angels in Europe.




    1. 0
    2. 2
    Answered by Bill Morrow, December 2008   -  Contact this person
  5. Hi,

    You could also pitch for funding for free on http://cmypitch.com

    There is a large amount of great video content for entrepreneurs aswell. They also now incorporate finding service providers for your business - which works really well when you need a question answered.

    Regards
    1. 0
    2. 3
    Answered by Will Miller, December 2008   -  Contact this person
  6. or you could try micro finance like .... well depends where your based if in London i may very well be able to sign post you and if not i'm sure i know a man who can. I mean obviously if you wantr a lot, have no security and the model isn't air tight then you have to see it from the banks point of view..stimulating the marketis crucial but so it not throwing more money away to the wind
    1. 0
    2. 0
    Answered by Manni Pattar, January 2009   -  Contact this person
  7. Hi Rossalynd,
    Hope that you managed to launch your business. For those looking for the same kind of advice, apart from grant you can get from the government, entrepreneurs definitively have to pitch their idea to investors, banks...

    For that, you have to have toknow your market, have some proper figures, stats to show that your market is there and waiting for your product/service.
    Primary research is essential and Quantitative Market Research (surveys) is at last affordable to small budget thanks to Internet.
    Have a look or feel free to ask me more information about it.
    Good luck to all
    Eric
    Marketest
    1. 0
    2. 0
    Answered by Eric Brandenburg, November 2009   -  Contact this person

Share this question:
Answer Question