When you are running a business, sometimes you may want to inject some money into it that will help it become more profitable. You may want to spend more on marketing, hire somebody new, or spend money on improving your IT infrastructure, for example. When you want some funding on a smaller scale like this, or want an ongoing form of extra income you can use for your business, things like loans may not be the most appropriate choice. Instead, you may want to earn or raise the money. Here are some ways you can do it:
There are lots of crowdfunding platforms, but crowdfunding for businesses is usually used to generate the money to support a specific project or develop a certain product, rather than for the ongoing running of a company. However, if you have a project that suits the criteria of popular sites like Kickstarter or IndieGoGo you may well be able to gain the money you want this way. It can be a lot of work running a crowdfunding campaign, but also one of the most effective ways to raise some capital while also spreading awareness about your business.
2. Online Trading
If you want a way to make some extra money for your business then considering getting into financial trading could allow you to profit on your existing capital. As a small business owner, you may also find it interesting and fun to play with the markets, and you’ll certainly learn some useful financial and business skills in the process. There are plenty of options if you want to start trading, with day trading being the best for making a profit you can use in the short term.
You can trade on the markets that interest you most, whether that is currencies (forex), shares, or commodities. With online trading platforms and their associated mobile apps, setting up an account and learning the ropes is quick and easy, and you can find loads of resources and tools that can help you learn how to do good analysis and understand market predictions on the web, too.
This may not be a way to make huge amounts of money (depending how much capital you can use), but is something that you can keep up and have as a secondary income stream you can use for your business on an ongoing basis. It must also be considered that this may result in some losses on your capital, so always been careful with your trading.
3. Monetise Your Website Or Social Media Accounts
Another way you can make some money for your business is to allow advertising on your website or sponsored tweets on your Twitter account. This can be quite lucrative if you have already worked hard to build up a lot of traffic or followers, and have a good quality site. Of course, you need to be careful about the brands you work with, and ensure you only accept relevant ads that won’t annoy your customers.
A subtle style of advertising that can generate revenue is allowing paid guest posts on your site’s blog. You can decide which to accept and have strict quality guidelines to ensure the paid content you publish still adds value to your visitors.
These are some of the ways you can gain some extra money that you can use to support things you would like to do in your business, without trying to get a loan.