10 Effective Ways To Raise Money For Your Startup in 2021
Money is the bloodline of any business.
“Fundraising is the gentle art of teaching the joy of giving.”
— Hank Rosso.
According to the United States Bureau of Labor Statistics (BLS), approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years. Only 25% of new businesses make it to 15 years or more. These statistics haven’t changed much over time, and have been fairly consistent since the 1990s.
Lack of funding turns out to be one of the common reasons.
Money is the bloodline of any business. The painstakingly long yet exciting journey from the idea to revenue-generating business needs capital to fuel it. That is why entrepreneurs find themselves asking one key question at almost every stage of the business.
How do I finance my startup?
The requirement of funding depends largely on the nature and type of business. However, once you have realized the need for fundraising, below are some of the different sources of finance available.
