Raising capital to start up a business is one of the most difficult things startups in Africa and Cameroon in particular face. How to get free funding for startup is the secret I will be unleashing out for you in the paragraphs below.

Banks & Financial Institutions

It is very difficult for small businesses that are still starting out to get finance through banks and other capital raising institutions. Even if the banks and financial institutions are willing to raise capital, the interest rates, collaterals and payment terms are usually other impediments that startups encounter in this process.

How to Get Free Funding For Startup

You might still be at the idea stage of your business or at the early stages of your company’s development and out looking for startup or venture capital. The interesting news is that it is no longer as difficult as it used to be. You don’t need to be running after one investor to the other in expectation of getting funds. There are new ways you can raise interest-free capital for your business by pitching your idea or business to an informed investor or winning prize money that will allow you to have full ownership and why not control over your business.

At times, the pressured face-to-face meeting is not necessary for you to get funding for your startup. Entering a competition for prize money doesn’t only mean you will have to win and get the benefits. Even if you fail, you can still get benefits and opportunities out there for entrepreneurs. These competitions are a good opportunity for networking amongst entrepreneurs. You can easily get interesting feedbacks and learn new things that will help you grow your business. So, without bagging the prize money, you can gain in experience and knowledge which is invaluable.

Read Also: 4 Points to Note When Branding Your Business

I am going to share with you below the link of a list of capital raising competitions that will be taking place across the world this 2017. You will spend absolutely nothing to enter into these competitions. The competitions will be dishing out about $3 million to hundreds of [young] entrepreneurs who are in need of capital to fund their businesses. The only cost you will be incurring will be your time and effort you take in applying. So don’t hesitate.

Don’t Make Excuses This 2017

No excuses should be acceptable this time around. There are several of such good competitions on the list. Choose the ones that you are eligible to apply and go for it. Note, as I said, even if you don’t win, you will have a lot to learn about your business and yourself. Don’t procrastinate, just take a look at the list and choose your targets and take action. Only those who take action this 2017 can get a chance to raise a no-string free capital for their business.

Check the Startup Competition Guide: A Giant List of The Best Business Contests for 2017

You can also take a free Capital Attraction Secrets Course by John-Paul Iwuoha of Smallstarter Africa. You can thank me after. Have a successful 2017 with your startup.