5 top tips to get the funding your business needs You’ve got the big idea. You’ve done your business plan, your financial forecasts and your first year’s budget. So how do you get the start-up funding that will get your new venture off the ground? Marketing Manager at Mail Boxes Etc., James Simmons, shares his top tips for small businesses and entrepreneurs.Tip #1: Start smallSome people are lucky enough to start their business while still working. If you can continue to bring in enough money to support yourself and your family while putting in those extra hours to get your new venture up and running, you may find you don’t need start-up funding. Instead, you’ll want to ensure your outgoings are as low as possible and keep a close eye on your forecasting, so you know when it’s safe to turn pro.Tip #2: Keep it in the familyIt can be tempting to turn to family members for a loan or ask them to support you financially while you get your business off the ground. According to Entrepreneur it’s the most common way for start-ups to finance their new venture. It’s important to treat this as a formal arrangement, though, to avoid misunderstandings down the line.Tip #3: Could you qualify for grant funding?It’s worth doing your homework to see if you could benefit from start-up funding from charities and other organisations that support the UK’s entrepreneurs. Websites like startups.co.uk have detailed information about small business grants and how to apply for them.Tip #4: CrowdfundingAn alternative way to raise vital seed funding from a range of backers is crowd funding. Using an online platform, the idea is that with crowdfunding an entrepreneur can attract a ‘crowd’ of people, each of whom takes a small stake in their business idea, contributing to an overall funding target. As well as helping raise money for your business, crowdfunding helps build a network of supporters and can also create a newsworthy story that will help your start-up get much-needed publicity.Tip #5: Tried and trustedFor a more traditional approach, your bank may be the best place to start. Most offer loans and in-depth advice and support for business start-ups. You’ll also find a comprehensive guide to sources of business finances on You.gov.Ready to start your business? Mail Boxes Etc. offers a great range of services for start-ups. Register your company with us, get a professional business address that projects the right impression from day one, and choose from our Business Hub services as and when you need them.