First and foremost, what you can do to fund your start-up business is to fund yourself. This means that as a start you will be the one that will handle all spending and transactions as well. You might be thinking that it would be difficult but no, keep in mind that since it is just in the start-up phase then it is normal as any business man to fund their own business from the start. No business man who suddenly decided to start a business and then it became successful the next day, success does not and never happen overnight, it is a combination of all sorts of hard work, passion, persistence, patience, dedication and of course, compromise.
Since it is still a start-up business you can’t just go to ask large companies to fund or invest in your start-up business, since it is not something that they can really see that is worth their time. So what you can do is start small, like your business now, since you are still funding it yourself, the people that are most likely who will support you is your family and or friends therefore, they are your first prospects in presenting your business proposal so that they will invest in your business. In this way, you will be able to get a hold of what they think about your business, and keep in mind that what they tell you are constructive criticism if there is any, don’t take it personally.
Now in terms of getting or applying for a loan, keep in mind that you need to choose the right company for your loan application, you need to choose the one that you can trust and you are comfortable with. You need to carefully choose the company because they are the ones that you need to work with for your loan to be granted, and then eventually you need to pay them.
Another tip that you can do where you can definitely benefit from is when you join competitions, like joining competitions for start-up companies or new products in the market, where you can get to know real business men in your field and then you can also get chance to win the prize for the contest. However if you do not win, you still get to know the businessmen who went there and then if you got good reviews for your start-up company or product/s then you get to present to them so that they will invest in your company.
And then, most of all is that since you will be the one that will handle all the spending for the company or funding at first, so then you really need to keep your spending at a minimum. In fact, if there are times that you really need to spend then as often as you can, try to negotiate something where you will be paying less or you can have it paid at a later time so that you will have enough time to make your company bigger and earn more profit.