Ways To Help Fund Your Startup

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February 14 2018

You may have just graduated and be looking into starting up your own company or be looking into a career change that will allow you to fulfil a dream - either way, a startup can come with quite a high price tag. Of course, this may be a career move you’ve been saving up for for most of your life, so you may be in quite a good position already. However, if this is a decision that is accompanying student debt, or a drastic change from a career that leaves you less than happy, you may be a little stumped at how you (Source) are going to find the money to fund everything. You may have jumped on the Bitcoin bandwagon early and are currently waiting for your mining colocation to reward your forward thinking, but you need some extra money now. Here are a few ways you can locate a little extra income that will help you to create the company you’ve dreamt about for so many years.

Sell Unwanted Items

This may be the easiest way to locate some extra money. Depending on how much you want to sell it may not bring in a huge amount, but every pound you bring in will be a pound closer to your desirable budget total. You may have a few old gadgets lying around that have been replaced by upgrades and forgotten about but still work well. Or, you may have had a change in home interior and still need to get a few unwanted pieces of furniture off of your hands. With sites like ebay, Gumtree, and Facebook Buy and Sell it shouldn’t be too difficult to shift a few unwanted items and put the funds towards your startup.

Get An Extra Job

Depending on your commitments this may be quite difficult, but if you’re extremely serious about your startup, then there may not be anything that can stand between you and achieving your dream. Looking for flexible work in a bar or pub in the evenings, or a Saturday job on top of your 9 till 5 will mean you have an income that is solely going towards saving for your startup. You could even look into freelance copywriting or blogging which will allow you to plan the extra work around your already-in-place commitments. The key is to look for flexibility and be honest with yourself about whether you are taking on too much all at once. You do not want to take on an extra job only to find you have no time to focus on your startup and feel like you’ve been throw in at the deep end with no source of air. Plan your time and commitments well, and sourcing an extra income could be your’s and your start up’s saving grace.

Bank Loan

A bank loan will be the quickest way to locate the amount of money you need for starting up your business. However, they can be quite tricky to obtain due to the high-risk involved. You will need to be clear on exactly what the loan will be going towards, and have a clear budget plan that isn’t too conservative or you could end up needing to borrow more. It will take a lot of in-depth planning, and you will need to do a lot of research to find out what loan will best suit you and your business, and which banks will give you the best deal. If you find you have done everything right, and you are still declined for a bank loan you can make an appeal to the bank to question their decision, so all hope is not lost. At the very least, this will give you feedback to improve upon for your next loan application.

There you have it, a few ways in which you can bring in a little extra income to support your startup, so fulfilling you life-long career dream is underway a lot sooner rather than later.

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