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Fundraising Ideas to Start a Business that are Sure Winners

Posted on Mar 29, 2017

Of the many challenges that business startups face, raising money is the most difficult. However, in recent times, there has been a tremendous increase in ideas through which business startups can raise money. The following are some of the ideas of raising money to start a business.

  • Crowd funding is a recent phenomenon that has made it easier to raise money to start business by providing a platform in which entrepreneurs pitch their business ideas to specific target investors or to a larger public and if their idea is deemed viable, they get funding. Some of the websites that can help raise money for projects include GoFundMe, Indiegogo, GiveForward, Rally.org  and YouCaring
       
  • Another way of raising money to start a business is through loans. Loans can be accessed from banks, saving societies, Micro-finance institutions, NGOs, among others. Though these loans usually attract interest the terms can be negotiated to suit the business financial and performance needs.  
     
  • Peer lending is also a fantastic idea of raising money to start a business. Peer lending involve groups of individuals who pool resources together and invest in their friends or comrades’ business ideas. These money can be lent on interest or be given as a form of investment where the business owner cedes some equity to the lenders.  
     
  • Contests can be organized by sponsoring institutions like micro financing firms, banks, crowdfunds, and peer lenders who would then provide a platform for business startups to competitively present their business ideas. This is usually done before a panel of judges or representatives of the sponsoring institutions who decide on the winners based on the persuasion or convincing nature of the presented business ideas. These winners then get funding.  
     
  • An events hosting can also be a good idea of raising money to start business. Entrepreneurs can organize an event like a charity walk, concerts, or sporting event where they can invite sponsors who would be required to pay to exhibit their products and services. The participants to the event would also be required to contribute some money as entry fee which can also be used as capital for the start up.  
     
  • Another great way to raise money to start a business is by holding an invite only dinner or luncheon. The guests would be required to purchase a card that would allow them access to the exclusive dinner/luncheon event. The organizers can also include movie or concert cards which can also be sold to the guests to raise more money.  

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