When it comes to running a small business, there are a lot of hidden expenses. The money you have to get started won’t last long once you’ve invested in your products, employees, training, and/or marketing. Until you start having income come in from your business you are continually entering into negative territory.
Whether you’re looking for startup money, something to keep you afloat after you get started, or something to help you through a rough business patch, here are some ways to get the money you need for your small business.
Get A Cash Advance
There are places you can get a cash advance from as a small business. They are there strictly to help businesses keep things going. If you are in need of some money for your business, you might want to look into this option.
It’s definitely a wiser decision than borrowing money from friends or family. That’s something you really don’t want to do when it comes to a business, small or otherwise.
Apply For A Loan
If a cash advance won’t work for you, or you can’t get as much as you need through this, you may want to consider getting a small business loan. These aren’t things that are just for starting a business, they can also help keep your business going.
Maybe your computer or printer broke down but all of your money is currently in product right now, a loan could help you deal with this need. It would also give your business more credit once you paid the loan back off.
Look Into Grants
Your business could be eligible for some grand. You’ll need to do a little research. It will depend on your business field, and maybe even who you are (there are business grants for women and other minorities, as well as ones for farmers and artists).
Grants are money you can get that you won’t have to pay back. However, you may need to prove you need them and you may need to write a grant proposal in order to qualify. Many grants are only issued to a few of hundreds or thousands that apply.
Campaign With Crowdfunding
You could also go the route of crowdfunding. Many businesses are using crowdfunding to start, launch new products, and just keep the doors open.
If you want to create a successful crowdfunding campaign you want to research which sites are best for businesses, for starters. Then you want to make sure you include all the info of why you need donations, what you’re going to do with those donations, and what the people that donate will get for giving you their money (and you need to share your campaign everywhere, often).