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A guide to setting up a business for start ups and first time entrepreneurs | Business Tips | Elle Blonde Luxury Lifestyle Destination Blog
Business

3 Quick Ways To Raise Money For Your Business Venture

You have an incredible idea, and you’re confident and passionate about its ability to develop into a lucrative business. But there’s just one thing standing in your way – money! Or a lack of it even. 

Professional, optimised e-commerce sites cost money, as do storage facilities for products, and the products themselves. But of course, you’re eager to issue the go-ahead with a marketing company or supplier you’ve scouted. But can’t afford to do it until your bank balance looks a little more healthy.

3 Quick Ways To Raise Money For Your Business Venture 1

Getting your hands on money quickly may seem difficult, however with the options below, it’s actually pretty easy to do.

Guarantor Loan

A loan from providers such as guarantor lender, Buddy Loans is advantageous for two reasons. The loan, if approved, is distributed to your account very quickly, sometimes within 24 hours. Making this a viable option for entrepreneurs needing to take advantage of a deal or offering fast. 

The second reason is, the loan is issued on the basis you have a guarantor. A guarantor is a second person who would be willing to pay back the loan if you were incapable of doing so. 

For this reason, the loans are issued quickly. Because, with another person such as your mom, or best friend, willing to back you up in the worst-case scenario that you can’t repay. The guarantor will take on the payments. Which to the lender reduces the risk of them lending to you. 

Partner Up

In some instances, it helps to have a business partner. Particularly when you need to raise a lot of capital. Because you can divide the expenses between you and your chosen investor. 

A guide to setting up a business for start ups and first time entrepreneurs | Business Tips | Elle Blonde Luxury Lifestyle Destination Blog

If you have a lucrative business opportunity, that would be crazy to pass up; you’ll likely have friends, family, perhaps even work colleagues willing to partner up with you and make the business a success. 

However, the business relationship you have should be defined from the get-go to avoid any confusion. For example, drawing up a contract to determine each person’s role. 

For instance, suppose your accomplice is happy to invest but would prefer to remain a silent partner in the process. This may work for you if you’re keen on calling all the shots. 

Sell Your Things

You’re bound to have some valuables sitting around that you don’t use, which would provide a healthy amount towards your business venture. 

For instance, designer-label clothing and accessories, providing they’re in good condition, shall sell on for a reasonable price. 

You could source out your Chanel or Louis Vuitton bag, and send it over to the HandBag Clinic, to spruce up and sell the bag on your behalf. Or make use of unopened perfume sets gifted to you at Christmas, and make money from them by selling them online.  

A big business starts small. – Richard Branson.

Facebook and Instagram | Business tips and advice | How to make money online | When setting up an online business your domain name is one of the most important things you can own. We look at why you need a sound domain for your site. | Elle Blonde Luxury Lifestyle Destination Blog & ELLEfluence Marketing Coaching

Here’s one last tip before you set off to raise capital for your new venture. While sourcing new ways to make money fast for your business, it pays to be mindful about the financial risk you are taking, particularly if you are seeking to borrow money from a bank or loan provider. Weigh up your options, and take some time to ask for advice and sleep on the idea of lending, before making a decision. 

Have you got a business idea and you are now looking for ways to fund it? We’d love to hear if you’ve had any challenges or anything you’ve been facing in the comments section below. As always, if you’ve found this article of any value we’d love for you to share it with your friends and family across social media and beyond.

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Laura is an award-winning entrepreneur with a passion for all things luxury. With a penchant for travel, her favourite destinations are Vegas and Ibiza. Catch her at the latest bar opening with a cocktail in hand followed by mornings in the gym. She dotes on her little Jack Russell, Ziggy and has an unhealthy Instagram obsession. Home interiors continue to grow as a passion and she absolutely loves shopping for all things fashion and beauty too.