2 Funding Tips For Busy Startup Businesses

As a startup small business in the UK it takes a lot to be successful.

You must have a million things on your mind: setting up your business, writing your business plan, thinking about your customers, the product, the service, the business cards…etc

But one thing that is critical to the success of all startup businesses that you may be leaving out is the search for funding. 

Since you are busy with your small business, we’ve come up with a few helpful tips which can allow your small business to get funded.

2 Funding Tips For Busy Startup Businesses

As a small business startup, one of the main reasons for failure is the lack of funding or “capital”.

Sure you may have money saved up to launch your business but do you know the hidden costs?

No, not many startups do.

Best thing to do is to prepare for the unexpected.

So here are the 2 tips that can help you get funding for your small business and don’t require you to spend a lot of time doing so. And instead focus all of your time and energy making your business better.

Funding Tip #1: Don’t limit your self to the regular funding avenues.

As a startup, the most common place to turn to when thinking of funding is to your local banks, your family and your friends.

While this type of funding is great, and most of the time “available”, it can be a headache going from place to place asking, discussing, planning..etc

Do you really have all that time to be doing that?

If you have a business partner or help, that’s a different story. But on your own your time is better spent looking at the big picture of your business.

Solution: Contact private investors (e-mail, social media, phone call) and pitch them your business idea and your need for funding. Most of the time this can be done from the comfort of your own home. If it looks good (like you may get the money), you may be required to visit the investors office to further your discussion. But by this time, you can see the money!

On top of private investors, you need to consider the British government for funding. There are hundreds of grants and loan programs available by the government to help small and existing business owners get funding. Again, not an easy avenue…but a time saving avenue that can get you funded.

Funding Tip #2: Don’t be scared of help.

One problem that a lot of startup’s experience is the fact that they want to do everything themselves.

You want to wear all of the hats. You want to be the CEO, the Marketing Expert, the Financial/Accounting Expert, the Social Media Expert and everything else in-between. But, many times it is best to leave the important stuff to the experts who know how to deal with it and get you the results.

In this case, getting your business funded.

You can hire a business plan writer to write your business plan (sure it may cost 2,500 pounds ) but it will get done perfectly.

You can hire a banker/accountant to help you find funding programmes and apply to get funded (sure it may cost 5,000 pounds ) but the results will be there.

You can spend months researching funding programmes to apply to and still not have a clue of what to do, or you can hire help.

Services like what we at UKStartups.org come in handy in situations like this.

The all-inclusive Startup Portal actually gives you the ability to start, fund and launch your small business in as little as 30 days.

The fee in comparison to some services out there are a fraction. You can register as a member of UKStartups and get it all done in no time. And this means a Business Plan, a professional Business Presentation, and actually get access to over 1,000 funding sources (government and private) in no time.

At the end of the day it’s all about saving time and investing it wisely.