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Trying to find funding is one of the hardest parts of starting a business and can stop many would-be entrepreneurs in their tracks before they even begin.

Recently the government unveiled plans to force big banks to offer advice on alternative funding when rejecting a business for a loan. With that in mind, here is a list of possible funding sources that you might want to look into.

 

Why you need to write up a business plan

First of all, make sure you write a solid business plan before you approach anyone for funding. You need to be able to produce a cash flow forecast for the first few months, although some lenders will want a forecast for the first 12 months at least.

Even if you don’t need funding or plan on applying for a loan, this step is a good way to work out your next move and plans for growth. It’s also required by some banks if you want to open a business account so don’t skip this part when starting up.

 

Business funding options:

 

Loans and finance

 

 

Mortgages

 

 

Schemes

 

 

Investors

 

 

Have you struggled to get funding for your small business? What advice would you give others? Share your thoughts in the comments below.

 

 

About The Author

Kara Copple

An experienced business and finance writer, sometimes moonlighting as a fiction writer and blogger.

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