Majority of startups always experience finance incapability while making their business plans. There are many people with countless outstanding business ideas that have the potential to change the entire market, but lack of funds has always been a huge barrier towards actualisation of the business making it become pertinent for budding entrepreneurs to determine potential places where they can get investors that would bring their dreams to reality.
Here are most of such investors which the start-ups likely move to for funding their business ideas or dreams;
Crowdfunding: This particular idea was birthed as a means of people helping people. In a basic crowdfunding model, a group of investors pitch in varying amounts of money in order to help the startup reach the target that it has set for take off.
Subsidies and Grants from Government and Individuals: Many countries in the world have economic experts that have recognized the need for encouraging entrepreneurs. Hence, they either provide subsidies for startups as a means of helping
them reduce costs, or creation of a pool of grants for the startups. Within many countries, the terms to win the grants that are available for startups can easily accessible through government owned websites. Within
many third world countries where poverty is predominant, rich philanthropists have provided grants that can be accessible by citizens of the country. One popular philanthropist is Bill Gates who co-owns the Bill and Melinda Gates foundation with his
Prize Money from competitions: There are very well meaning private individuals and bigger companies that create competitions where budding startups get to showcase their business plans in order to win specific amount of money that would help them begin their operations. Usually, these competitions are chaired by a set of judges who have business knowledge and have encountered
One of the beautiful features of such competitions is the impartial
nature of the judges. There is no hiding the fact that the winner would possess a unique business plan that is easy to interpret and profitable in the long term.