Hello, OK, I want to do something pretty big... I need at lest £40,000 UK, $80,000 US.. How would I go about getting this? Can anyone explain on a grant, do you have to pay back..? I want to get a grant sorted for something really big which I want to do
How long do you need to raise this by? Maybe offer a profit share in your business... maybe offer 40% of it over the £40,000, and try to raise it that way. Maybe offer a website where people can register and "donate" for their part of the profit share... what's it based on? is it an online venture, if so finding a grant for it will be difficult, if not, try approaching authorities of interest e.g. your local council if it will affect the local community in a posotive aspect
A venture capitalist will give you the cash for a %'age of the business... the riskier it is, the more they'll want
Yes, I want to make something with Technology, I am going to write up a business plan then give it to my cancel
Get an investor. They will give you the money in exchange for a % of your business. Don't know if you watch it, but it's a bit like Dragon's Den Or remortgage your house
People on here sometimes invest in good ideas. Maybe not that much at a single time, but if you got more than 1 investor then you might be able to get that amount, so give smaller amounts of % for smaller amounts of cash and find 10 or so investors. This could work both ways: good and bad. Good would be that you have 10 people all keen for the project to make money, so would advertise it and help you out with anything they can. Bad would be that you can't keep a hold of them all and they annoy you
I'm not sure what I am going to do, or how to even start making £40k if I put a donate button on my site, and + the money I get paid.. (avg's from £500-£700 a month) which is good.. save that and then see what happens.. right?
Some advice: 1) It would have to be a loan from a bank which you would have to pay back with their interest charges. 2) No one is going to give you a grant. The world just doesn't work like that. 3) If you wanted someone to invest 40,000 for say 40% of the buisiness, then the business would have to be worth 100,000.
Well from what you told us you need £40,000. To start the business with the little bit you make each month, the only and obvious answer is to save it up otherwise you can't.
Well first you talk to your local City Hall and get a business license, then you talk to the bank to get a business bank account, then you talk to your lawyer to make sure you know what you are getting involved in and all the liabilities you about about to take...scratch that, talk to the lawyer first. You'll save yourself a lot of trouble. I assume in both of these misspellings you meant Council. If so, that leads me to believe you are Native - is that correct? If so, you actually might have access to special government grants and business loans depending on where you live. But onto the core of the topic - with no business sense you need to ask yourself the following questions: What could you possibly need $40k for - what is this technology you want to build? Has it already been done? If so, how will you compete against other companies? How are you justifying the $40k startup costs? Did you just pull a number out of your ass? Or have you actually drawn up a financial plan and worked this out? How long will that $40k sustain your business? What's the expected ROI for a potential investor? If you can't answer these basic questions you have no hope of getting financing. Everybody will just laugh at you or ignore you when you start applying for loans/grants. Grants you do not pay back as long as you don't abuse them. Loans you pay back. Investments from Angels and VC's you don't pay back either, but they own part of the company.
This is new technology that I will be building, and I am not navtive, I am in the UK, sorry, dislexica. The money should last for 2 years if I budget right.
Are you talking about hardware or software technology? And in the UK, you'll actually be looking for 18k'ish British Pounds, not USD. Probably a good start would be to talk to your local Chamber of Commerce, they'll probably have a lot of information on local grants you can apply to and help you through the process (that's what the CoC is for).