You might have a great idea but if you do not have money to fund your idea, your business will never materialize. Therefore, the first step of a business is to build seed money, or let’s say build business funds. How do you do that? You can always raise funds for your business by using your savings. If you have assets, you can also sell your assets to raise funds. If both of these options are not available, you can do borrow money. You can either borrow interest free loan from your friends and family, get a loan from banks, investment companies, and finance companies.
How to Build Seed Money For Your Business
- Thread starter Mika
- Start date
The most common way you can raise seed money is through getting a day job, if you have some skills or certification the better for you, before you start out looking for jobs it is important to calculate how much you need to Kickstart your business, so that you have a direction.
Once you land a job and start making a salary, save a percentage of it until you have saved enough to afford you starting a business and then you quit, some will advise not quitting until your business is established and it's making you money, but I think it all applies.
Once you land a job and start making a salary, save a percentage of it until you have saved enough to afford you starting a business and then you quit, some will advise not quitting until your business is established and it's making you money, but I think it all applies.