startup funding

3 Fuss-Free Ways to Fund Your Startup

Creating a startup is one of the most rewarding things you can do in this day and age - but to make it happen, you need funds.

Of course, gaining the right amount of capital for a life changing business idea can be easier said than done, but these three fuss-free ways of funding your startup are here to lend a helping hand.

Oh, and did you know? Companies with an average age of 26 to 34 have the highest median funding...

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1. Get involved with a startup incubator or accelerator

Accelerators or incubators like Y Combinator are usually associated with major universities, community development organizations, or sometimes big businesses - and they're very popular.  Most offer free resources to startups, including consulting, office facilities and even seed funding, all of which are priceless to a business in its infancy.

 

2. Start your very own crowdfunding campaign

You might think crowdfunding sites are overcrowded and dead in the water. Think again. It may be true that the crowdfunding market is saturated with those looking for virtual handouts in a bid to fund their harebrained ideas, but the fact of the matter is: a great idea or product, coupled with an effective online campaign gets real results on the likes of Kickstarter and Patreon. Just look at Exploding Kittens.

 

3. Pull up those bootstraps

We don't mean literally (unless you really want to). What we're talking about is the art of Bootstrapping. There are seemingly countless ways to ask for funding, some of which are better than others, but an increasingly popular option is to fund it yourself; in the first instance at least. To do so, you may have to cut costs elsewhere in your life, but the advantage is, you don't have to pay someone back, or dole out any equity on your business.

Funding a startup is a brave and bold thing to do, and nobody ever said it would be a walk in a park, but by following these tips and trusting your instincts, you will have all of the ingredients to make it work long into the future.

Thinking of bootstrapping? Perhaps our personal finance section will help.

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