How to fund a Web Startup?

[Slade]

Hey All,

I have a great idea for a web business that I have seen successfully implemented overseas and I want to try and implement the same thing here.

It is ideally going to cost me about 10-15k to get this thing off the ground.. problem is I don't have that spare cash floating about.. so what are some of the ways I can try and fund this?

Has anyone got any innovative ideas on how to raise capital for a new online startup?

[gerryonline]

Slade, you may want to pitch to potential investors, these don't necessarily need to be dedicated business investors, but possibly even family? For a small capital raising for 15k, you could get say 3-4 family members involved rather than go to the bank. But make sure you also put your money where your mouth is as well by matching everything your family gives you!

But before you go searching for capital, make sure you have a good plan in place and make sure your business idea is well researched and has a solid footing - especially if you are getting family involved!

Other options could be to go to the bank, get a unsecured loan? If you are really dead set on the idea.. possibly sell some assets? Maybe your car or something like that? If the idea really is that good, then you should be able to buy a bigger better one in no time!

[JamesGG]

I like to keep things simple; otherwise, I daresay that I'll just get lost.

With that in mind, there's no need to complicate the scenario. Easiest way would be to just get a credit card, no?

[Brendan]

Slade, JamesGG is on the money, its a relatively low capital start-up, and if you do your figures right a credit card may be perfect for what you need.

Look for one with an introductory free interest rate period of 6-12months and work your cashflow so that you can have it paid off before you need to start paying interest.. then you have yourself some free money..

[JamesGG]

and work your cashflow so that you can have it paid off before you need to start paying interest...

Thanks Brendan.

Expanding on that idea, I understand that there's a few 0-3% balance transfer cards around if your cashflow hasn't improved enough in time, too.

Good luck with it, mate.