A recent article, 8 Ways to Fund Your Startup by Sarah Landrum says that running your own business can offer flexibility and financial independence. Nonetheless, seeking the initial capital needed to launch a business is one of the most critical steps in the startup process.
Here are ways to help you fund your startup in Denver office space.
- Bank loan.
Obtain a loan from your local bank, however it can be risky so it’s very important that you fully understand every detail of your contract (e.g. payment due dates, interest rates and any other corresponding fees).
- Credit cards.
You could utilize your personal credit to fund your startup but there are banks and institutions that offer cards that are particularly intended for small business owners or startup entrepreneurs (you can apply a credit line for your startup).
- Invite investors and partners
You can invite investors to take a passive role, or partners and stakeholders who will be involved in every part of the decision making process (e.g. choosing the business location, whether to lease commercial office space or temporary mobile office space).
Crowdfunding is a relatively new way to raise funds through monetary contributions from a large number of people. For instance, Microsoft’s Oculus Rift device, a virtual reality headset, successfully raised funds to the tune of $2.4 million thru crowdfunding (all of this capital was raised within a period of 30 days). Crowdfunding is an excellent way to gauge consumer interest.
- Join contests and other promotional programs
Many established businesses are hosting contests, competitions and other promotional programs to discover new startups and capitalize on the best ideas. Increased entry and exposure will give you a better chance to win a substantial cash prize that can be your additional funds and can also have an effect on the success of your startup.
As a startup, your business location is also very vital in the success of your entrepreneurial journey. YourOffice features a network of world-class business addresses. Each location offers beautifully appointed day offices and team office space that are fully wired and ready for you to move in and start working.
How did you fund your startup? Let’s hear your story. You can also see us on Twitter and Google Plus.