It can be rather challenging to find substantial financing for your business, especially if you have a brand new start-up or small-business that you are trying to get off of the ground. Over 55 percent of small businesses depend on credit lines, loans and capital leases in order to finance and fund their companies, especially throughout the first year of operation. However, there are several effective ways to raise money for your eCommerce business online as well.
Host an Online Auction
One of the best ways to raise money for your business would be to host an online auction where you can sell products and services through such popular websites as eBay. The global exposure that these online auctions get throughout the year can be used as an effective marketing strategy that will allow you to raise funds while also driving traffic to your business. Therefore, you will be maximizing your stream of income by increasing your sales and generating more revenue on an annual basis.
Generate Interest for Online Donations
Generating interest for donations and public funding through the Internet is another great way to raise funds for your business. There are many different websites that promote crowdfunding for business growth, especially if the company has an objective or overall purpose that appeals to the general public. Over the past year, KickStarter has been able to go from an unknown company to a thriving and popular website primarily because of the exposure that it has received through news coverage and media.
Apply for a Business Credit Card
Even though there are many different personal loans and credit lines that can be used to raise money and provide funding for your company, the best approach to take would be to open a business credit card. Establishing a commercial line of credit that is associated specifically with your business is also beneficial because it will reduce the overall amount of personal liability that is attached to this particular financial account.
Over 34 percent of small businesses throughout the United States have used business credit cards for additional funding, according to Entrepreneur.com. There is a host of incentives and other benefits that are provided by these companies that can present even more opportunities for savings, such as cash rebates and an extensive list of discounts on a variety of products and services.
Explore All of Your Available Options
In order to raise money for your eCommerce business, your best bet is to always keep your options open. Hosting an online auction and promoting interest for online donations, for example, will require you to break free from your personal and professional comfort zones. However, it is important for you to keep an open mind so that you can efficiently explore all available opportunities. The odds of finding a single source that is going to provide you with all of the funding that your company needs to thrive on a long-term basis are slim to none. This is why it is important to explore a variety of different opportunities in order to get the most benefit from these endeavors.
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