How to find funding for your web project
Many entrepreneurs make the mistake of assuming that investors will be interested in supporting a new web project proposal from the idea stage. The reality is that most investors will pay very little attention unless you can validate projected return on investment (ROI); understandably, nobody wants to throw their money at a dead-end idea, no matter how impressive you can make it seem.
Don’t let that dampen your dreams too much; if you are planning a web project, whether that means you want to launch a new mobile app or software idea, or even just redesign your existing website, there are plenty of ways that you can raise the funds to do so. You might even be surprised to learn just how many business and start up grants are available to you, and how these could help to make your digital dreams a reality.
The expansion of the internet over the last few years means it’s never been easier to get your brilliant new mobile app or website idea in front of a generous community who could help you to raise the required funds. Sites like Kickstarter and many others cater to those with small budgets and big ideas, who need a little bit of support to get their proposals off the ground. With a community of over 10 million users, Kickstarter has backed tens of thousands of creative projects.
Lots of investors now run app contests for entrepreneurs to participate against each other for a nice chunk of prize money. These can get pretty competitive, but if your idea is compelling enough, there’s a chance you could walk away with some or even all of the required funding. You’ll need to be out to impress though, and be sure to show how your app or website idea is intended to change lives!
Government grants are another great way to raise money for your web project. Though they’re not always easy to come by, you don’t have to pay a grant back, so you should definitely look out for government-backed schemes that can help you to begin developing your digital business idea. Some digital marketing agencies and software developers will even keep an eye on them for you, so it’s a good idea to see if you can find one that has a reputation for working with grant schemes. MA Design, web designers in Cheltenham, have secured over £30,000 worth of web design grants for dozens of businesses based in Cheltenham and Gloucestershire over the last 10 years.
Your other option is to take out a loan; as long you can indicate that your web project will be profitable and will have a positive impact on the economy or will bring about some other form of positive change, you should have no problem securing a loan from the bank. Of course you will need to present leaders with a solid business plan, all inclusive of valid market research and revenue projection, and you’ll also need to be prepared for queries about your product and its market.