How to raise capital for your new business in 2021

Start by looking around your house

File image of CBK Governor Patrick Njoroge holding up Kenyan currency notes

As we begin this new year, the majority of us walk into the new years led with plans of things we want to achieve. This can be lightly referred to as new year resolutions.

Many people think about starting businesses as part of their new years’ resolution, but very few of these people actually put their plans into action. The few who put their resolutions to practice experience various challenges when doing this.

One of the biggest challenges they face when starting a business is raising capital, to start this business they so much want. What follows after this is you started figuring out how to make this money physically available, so that you can have the business up and running.

Before a business becomes fully operational, it requires to have a physical location (Shop), registration certificate and other necessary permits from various authorities. All these require money, which is all part of the Capital needed.

Many young people have found this to be a bigger obstacle, because they already are set with their ideas and plans.

As we get into 2021 however, we are here to give you tips on how you can raise this capital, without having to go through so much struggle.

One of the best ways you can raise money to start that business is by looking around your house, for things you don’t really need, but they still occupy so much space in your house. Have you heard of online classifieds platform PigiaMe? It’s a platform that brings together sellers and buyers and sellers with the click of a button.

Here you can have the extra stuff in your house that is still in good working condition and put them up for sale. This could range from your sound system, a coffee table you don’t need, or even some kitchen appliances. Once you meet a buyer, you will have earned yourself some money, which you can now invest as capital into your business.

You can then use this capital to get the goods you want to sell. If it’s baby clothes you want to sell, you can get enough pieces to get you started and because the money might not be enough to get you a physical shop, you can use your house as your shop.

Another thing you will need to get the clothes out there is a smartphone with a good camera which you will then use to take pictures of the variety of baby clothes you are selling and upload on the PigiaMe website, as a seller, with their prices attached. You will also leave your contacts on the platform and each time a buyer wants a piece; they can just reach out.

This was, you will have your business running and from the profits made, you can slowly expand your business and even get that physical shop with time.

Having a physical shop however, does not mean you will be done selling on PigiaMe. This platform exposes you to even more customers compared to the physical shop, where you have to work with referrals and customers who just pass by.

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