Priority Insurance LLC Blog
Some people have bright business ideas that could earn six digits or more. However, there are times that these people only have an idea but not the money they need to start their business.
If you are one of them, this article will tell you how to start a business without touching your bank account:
Get a Government Grant
Grant money can help you start your business on city government, regional, state, and federal level. The best part of it is, they will not ask for equity. While what’s being offered depends on the geographical location, helping the starting businesses shows how the government works on economic development. Funding a business can create jobs and creates more income for the region.
Request for Crowdfunding
Crowdsourcing could help you get enough money to produce a new product or start a business that offers a unique service. All you need is to offer services or products. You can get funds without equity or interest to pay, too, you have already created a community of possible customers.
Take Advantage of Startup Accelerators
Most people think that startup accelerators only accept applicants who can give out equity, but that is not true at all. Other accelerators also offer programs that provide the same resources and intensive coaching as equity-play accelerators do without asking for equity.
However, there is always a catch if you turn into equity-free accelerators. One of these is you need to live in a particular city for you to take advantage of their offer.
Once you have started your business, and successfully established it without spending a dime by using one of the options above, do not forget to have business insurance. Insurance can save your business from the potential problem that may cause you financial loss.
If your business does not have insurance, you may have to pay for expensive repairs for property damages or legal claims against your company. It could be devastating, depending on the incident. Also, businesses cannot operate without insurance in most of the states.
Small businesses need a business owner’s policy or BOP, which is a combination of business income, business property, and business liability insurance. This type of coverage will surely keep you away from any financial problems that your new business might encounter.
At Priority Insurance LLC, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (864) 297-9744. Get your free quote today by CLICKING HERE.