How to Finance a New Business

Recently, I met to my friend's relative who is young and want to start a new business of computer hardware. But not have enough security for getting finance from bank, he is facing difficultly to start his new business. Like my friend's relative, there are lots of middle class youths who are interested to start their new business but they are facing the problem of finance. At that time following some tips may be helpful to them.

1. Contact to Your Friends and Relatives for Financial Help

For getting finance, you can contact with your friend. You can also offer to make them sleeping partner. A good friend will come forward to help you. Your relative may also give you the loan for starting business. Request them by asking personally to them.

2. Finance Yourself

You can also give finance to your business. Apply for work in any company. Delay your business plan for one or two. When you have enough money, use this money as capital for your business.

3. Contact NGO

Some NGO are supporting for starting new business. They do not take interest on given loan. You can contact to these NGOs.

4. Start to Provide Services in Starting

If you start to provide services instead of selling of stock, your initial cost will decrease. Suppose, you have not money to buy and sell the computer parts. You can start by repairing computer and laptop. For this, you need some equipment and a rental shop in market area. When you will get service fee, use this money for buying some stock also.