Friends,

I'll like a practical solution and not some materials read in the books
and rehashed for us to believe.

I need someone who has actually gone through being broke and brokenthrough
to tell us how he or she was able to raise sufficient cash to start up his business.

This will help a lot of us start-up entrepreneurs.

The floor is open.

Practical solutions you say? Well, u may consider doing jazz, otumopo, money ritual, bank robbery, yahoo yahoo etc

Practical solutions you say? Well, u may consider doing jazz, otumopo, money ritual, bank robbery, yahoo yahoo etc Lmao!

My guy, the practical solution is hardwork. And if u thinking of doing business, think of what service u feel u can render to tend to people's wants. Pick it up, device a plan and tell people abt it. As regards seeking funds; the best way is through family and friends. I don't think bank loans are made accessible to sme's in this part of the world. Goodluck.

1. Savings from any ongoing employment.
Pros: It's your money and yours alone.
Cons:Accumulation time length

2.Venture Capital from Business Angels(That's what they are called in Europe)Investors
Pros: Access to large funds in relatively quick time.
Cons: High risk of losing controlling stakes if it becomes successful

3. Non-collateralized loan from any lending institution.
Pros: Well you've just raised cash.
Cons: Normally in smaller than required amounts and with prohibitive interest rates.

4.Collateralized loan from any lending institution.
Pros: Large sums can be raised with affordable interest rates
Cons: You would normally be handing over your C of O.

Barring the route via savings,you would normally have to have an impressive pitch when sourcing funds for business. The usual stuff you probably already know, Biz Idea,Biz Plan, Intended Market,Management Technique,Your Experience In said discipline, Revenue Forecast etc, etc.

It helps if you've had previous experience with proof to match and it also helps if you've actually committed some of your own money. It tells any potential investor that you believe in it enough to commit. Good luck finding money is normally like finding true love, tough.I digress and beg your pardon.God's speed.

During the recession ford shares were at $1.08 we bought several thousand. At their max in 2010 they reached $18, we made over 14 times our initial investment.

let me give you a hint, if we have a double dip recession, i'm going to get friggin loaded, and you will too if you trade the news. Once the trouble starts shortsell the major banks, and when the news starts to get really bad they will plummet. You can get enough cash off that to invest in a company that has fallen because of lack of consumer demand (a company you know will pick up when the downturn in over) and buy it cheap. Sell the stocks once the recession is over.

krucifax as said it all. But Poster you may also consider cooperative societies or business clubs as another way to raise capital for your business. I hear some churches have such societies for their members I don't know if you belong to one of such. Some workplaces also have staff contributory systems as well. So you could either form one or join an existing one.

Even friends and relatives who believe in your idea may be willing to put some money into your business.