When you are looking to start a small business, it’s like having a baby. You have conceived the idea but you have to carry it forward and also make sure that there is no complication or trouble while delivering it.
Of course, one of the most prominent hurdle all SMEs face is the money. ‘From where we should get the money to start our small business’–the question seems to rattle a lot of new entrants in the field of working on their own and not being employees.
Start up money for small business may come from various resources. Some of them might include:
- Angel funding
- Seed funding
- SME funding scheme of governments
- Money from your friends who share the passion for your business
- Money from your in-laws (pun intended)
Well, if you have a brilliant business idea and you feel you can make it successful, getting start up money is not a big issue. There are lots of angel funders who want to invest in new and innovative ideas that might do well in the market.
There are various programs, events and conferences organized by various companies, media and organizations where they ask you to submit your business plan and the potential funders will look at your case. I have participated in many of them and I feel they are pretty successful in making entrepreneurs meet funding options.
If you believe in networking and love to attend networking events, there is no stopping then–networking makes things happen. I remember how an early stage entrepreneur connected with an angel funder after reading one of the blogs on my site and immediately got funding. The idea of course is to search, research, network and reach out–there are opportunities in the market and you just need to tap them.
The eco-system of startups in the country is very good and there are many foreign players too who want to invest in the Indian market. There is no reason why you should not go ahead if you have a business idea.