From angel investors to SME loans to venture capitalists, here’s how businesses can score a fresh injection of cash to scale up or stay afloat.
Who should get it: Business owners can consider getting these grants if they are based in Singapore and satisfy the eligibility criteria. There are grants available for specific purposes, such as to help a company expand overseas, to adopt IT solutions or to develop the capabilities of their employees.
3. BootstrappingWhat is it: Fund the business with cash out of your own pocket. Rather than taking on debt with a loan that incurs interest cost, or raising funds by giving up equity in the company, bootstrapping allows entrepreneurs to maintain full control, albeit with financial risk. Story continuesThis initial funding can help the startup to get off its feet. There are also platforms that allow these investors to pool their capital together and share the returns, such as Fundnel.
5. CrowdfundingWhat is it: Sites such as Kickstarter and Indiegogo have become synonymous with the term crowdfunding. Crowdfunding is essentially raising money from keen members of the general public, who can pool together a significant amount of capital and finance a viable business model. Who should get it: Any business can consider crowdfunding to raise capital from people who are considered future customers. It doubles as a means to gauge consumer demand and sentiments towards the new product before launch.
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