When deciding to build your own business, the first thing to think about is whether you have enough business capital? Capital is the most important factor in opening your own business. Without capital, it seems like a business plan will stay a dream and hard to achieve.
Keep in mind, looking for business capital at the moment is not difficult. Now there are many easy ways to get loans for bad credit. Here are tips on getting business capital that we summarize for you:
- Borrow from the Bank on Warranty
Banks are the places most often targeted people who need venture capital. There are many loan programs in the bank by providing some asset assurance to the bank.
- Borrow from Unsecured Bank
You can also borrow money to the bank using an identity card or unsecured credit facility. This loan is a favorite of capital seekers because it keeps getting money even without giving any guarantee. Although with the interest is greater than a loan with a guarantee.
- Using Savings
You do not like to owe to the bank because you feel the interest is too high? You can use savings to capitalize the business. This way is much safer because it does not risk owing.
- Selling Assets
If you own assets such as property, motor vehicles, gold or other profitable investments, why not be sold for business capital? If your business succeeds, you can buy the assets that have been sold earlier with a better and more.
- Assuming Assets
Honey on your assets? Well, why not just mortgaged to a pawnshop? This includes profitable ways because you still get business capital, while their assets remain intact. But do not forget to redeem it because otherwise the asset will be confiscated by the pawnshop.
- Borrow from friends or relatives
Another way is to try to get loans to people close to you such as friends, relatives, in-laws, cousins and others. Loans from them may not be as much as you borrowed at the bank, but the loan is usually interest-free.
- Take the Training
Another alternative is to get the capital channeled through economic empowerment institutions. These institutions often do training, training or workshops that you can follow. Usually, after training, there will be information about access to business capital.
- Joint Venture
You can invite friends or relatives to open a business together with mutual capital. Joint venture capital business will also be profitable because capital and work will be shared equally, including also share the losses. However, do a written agreement regarding the sharing of results between you and your partners to avoid future conflicts.
- Capital of the Consumer
There is also a way to get capital from your potential customers. You can ask for advance payment of your services to prospective customers, such as 30 percent. The advance can be used as capital until the work is completed and get the payment entirely.
- Franchise (Franchise)
This Franchise System means business cooperation between the business owner and the business actor. Profit sharing based on agreed agreements and business owners will provide all facilities and capital which will then be undertaken by the business actor. This system does not spend much capital for you the business actor. But you have to choose a brand franchise that is already famous so that the possibility of more profits.
- Sponsorship of the Website
The last way that is currently a trend to find business capital is sponsorship through certain websites that supported internet technology, commonly known as crowdfunding. By way of offering the type of business you will make through one crowdfunding site and interested visitors can become a sponsor who donated his capital. Instead, you can pay rewards according to the rules of the site.
Determine Business First
Before choosing some options how to get business capital as mentioned above, it helps you decide what business will be cultivated first. You must know in detail about what to do including the risks to be borne. When you are sure to do business independently, immediately you start your first step. Find out how to find the most suitable business capital for you and congratulate the boss for your work.