Successful founders match their funding to their revenue. Here are 12 options to consider, from early days to venture.
- Most small businesses don't access venture capital when they launch. Instead, they often rely on personal savings and credit cards.
- But these aren't the only ways to get cash for starting, funding, or expanding your business.
- Funding expert, mentor, and Harvard-grad Arielle Loren owns and operates the first business-funding app for women, 100K Incubator.
- To determine what method is best for your business, she breaks funding into three levels based on monthly revenue.
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There are many ways entrepreneurs can fund their small businesses, but one method seems to be talked about more than the rest: venture capital. Yet most small businesses don't access venture capital when they launch.
The rest rely on options like personal savings, business loans, and credit cards. According to a 2019 report, almost 65% of entrepreneurs rely on personal and family savings for startup capital.
There are plenty of ways to get cash for starting, funding, or expanding your business - the first obstacle is learning what's available and determining the best fit for your goals.
To that end, we spoke with funding expert, mentor, and Harvard grad Arielle Loren, who owns and operates the first business-funding app for women, 100K Incubator. She breaks funding into three levels based on monthly revenue, from $0 to over $100,000.
Here are 12 ways you can fund your small business, level by level.