Top Tips for Students Funding a Start-up While Studying

Top Tips for Students Funding a Start-up While Studying

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Are you the kind of student who can’t wait for the world of work after university? Do you find yourself studying, but also constantly thinking of an idea you can’t get out of your head?  It is possible to start a business while studying at university, people have done it before. Is money theonly thing holding you back? You don’t need to worry, below are some ideas on how you can get funding for you start-up.

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University Support

Your best place to start is asking your university for help. Depending on where you’re studying, there could be grants in place to help entrepreneurial students. If there aren’t funds available from the university itself, you could go to the careers department and talk through your options with them. They can advise on what kind of funding you need and help you start looking.

Government Grants

There are over 200 different kinds of grants you can get from the government. Each can help you in certain ways, whether its saving initial start-up costs or providing you with equipment. A warning here: these grants have complex applications. There are several stages and you have to meet a certain criteria in order to be eligible. It’s definitely worth looking into, as they’re designed to help newly-established businesses.

Money Lending

The idea of giving yourself more debt on top of your student loan isn’t the most appealing of options. However, there are some ethical companies that genuinely want to help you. A great example of this is Smart Pig;they began as a student start-up so know what you’re going through. If you use a money-lending website, make sure to read all terms and conditions extremely thoroughly.

Banks

If you do want to take out a loan for your start-up, you could see if your bank can help. You’ll need a business plan and a good financial record. Book yourself an appointment and remember the staff are always there to help you out. There’s no harm in asking.

Crowdfunding

You don’t necessarily have to follow the traditional routes when it comes to funding projects. Just like so many things, the answer could be online. Websites like Kickstarter and Patreon are becoming increasingly popular. Using these sites could potentially give you immediate consumer feedback. You’re relying on the public to fund you, so they need to like your idea. If you begin to get those investments, you just may be on to something.

 

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