Fundraising is one of the most crucial aspects of any business startup, and having a solid plan for how and where to solicit funds is essential. You will need a funding plan to cover business licenses and permits, legal fees, office space, supplies, equipment, operating expenses, employee or contractor payroll, and more.
There is a variety of funding options to consider. Just a few options include:
- Entering business plan competitions sponsored by universities and state and corporate organizations
- Applying for a bank loan or line of credit through a credit card
- Joining a startup incubator through a local university or other community organization
- Reaching out to venture capital investors
- Launching a crowdfunding campaign
- Applying for small business grants through Grants.gov, opens a new window or the Small Business Association (SBA), opens a new window
- Seeking out local angel investor groups
- Negotiating an advance from a major customer
- Trading one service for another, such as offering to manage a website in exchange for free office space
Not sure where to start? Stop by your favorite library branch to research which options fit your business goals. We have a variety of online and print materials on the subject of business fundraising. Check out the list below for a sample of what we have.
Contact a Reference Librarian, opens a new window if you have questions about using or locating any of our business resources. Are you interested in more business resources? Next month I will feature marketing resources that are available here at the library.