How Can You Fund Your New Business Idea?
Whether you’ve just come up with the idea for your business or you’re ready to take things to the next level, entrepreneurs like you often face an important question - “How am I going to pay for all this?” Starting and growing a business takes capital and young entrepreneurs may have an especially difficult time finding funding.
One option that many business owners turn to is a “friends and family” round of funding. That’s industry talk for… asking people you know to buy into your business. Sometimes, this means offering them stock in your company, other times it comes in the form of loans with negotiated terms. If your friends and family have a ton of expendable income, they may just cut you a check – no strings attached.
Unfortunately, this “friends and family” model of funding doesn’t work for everyone – especially young entrepreneurs who may be the first person in their family to try to launch their own business. That’s why we’ve created the skysthelimit.org Friends & Family Fund – a chance for entrepreneurs to receive a grant of up to $2500 from our community without having to give up any ownership in their company.
We've made it easy for entrepreneurs like you to apply – you'll just need to create a free account on skysthelimit.org and become a member of our community. Through our digital platform, we pair young entrepreneurs with experienced business professionals who offer the business advising and mentoring needed to help your idea become a reality (or take your existing start-up to the next level).
Each month, we offer a new opportunity for eligible entrepreneurs to compete in a funding round. In general, each funding round will last up to one month, and have one or more winner(s). The funding is up to $2500 for business expenses. Supporters and members of the community will vote on which entrepreneurs they think should win. Winner(s) are decided by the entrepreneurs with the most votes at the end of the funding round.
If you’re interested in applying for the skysthelimit.org Friends & Family Fund, the first step is registering to join our community of young entrepreneurs, volunteers and donors. It’s easy to get started. Just click the button below and join skysthelimit.org today!