The challenges of getting funding is the biggest obstacle for the entrepreneur must face. Thus here are several platforms on where you can get funding to continue your business.
1. Personal Funding
The first way is by using your own savings and your asset to get the capital. These assets will be used to generate income for the business. This method is the most suitable when you have excess cash and want to make growth for the income.
2. Crowd-funding
There are some famous crowd-funding platforms in Malaysia such as:
1. pitchIN
2. mystartr
6. Ataplus
Most entrepreneurs will share their proposals on the above platforms. The funders will then support them through small contributions. This way will also provide you a chance to find funders for your business.
3. Government Loans and Grants
One of the most top funding channels that attract most of the entrepreneurs is through the government loans and grants as it is not required a guarantor, collateral, zero profit rate, and no processing fee. Some of the categories of the funding amount will be stated as below:
4. Venture Capital
In this system, a 3rd party who’s funding your business will act partial owner of the company. These venture capitalists have the majority shares of ownership.
Some venture capital companies in South East Asia:
3. NEXEA
4. RHL Ventures
5. Small Business Loans
This is among the famous platform to get the funding. However, if you considering to apply the loan from the bank, you need to have a very good credit score. This is due to bank’s procedure that they will approve your loans based on the credit history, bank statement and other financial information.
Hopefully through these listed platforms, it can help you to find the source to pursue your business funds.
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