How to Finance Your Startup Business Yourself


Depending on the type of business your startup is, financing a startup company can be intimidating and time consuming. While there are options for finding investors, using a kickstarting program, and more, some entrepreneurs prefer to do it themselves.

Depending on the type of business your startup is, this process may be easier or harder. Product-based companies can be expensive when you have materials, production, and other costs factored in. However, if your service business needs a retail space, that can also be fairly expensive. If you buckle down and save aggressively, you can work your way to being a self-funded startup.

If this is you, keep on reading because I’m going to walk you through the top three ways to finance a startup business yourself.

1.     Pull from Your Paycheck

This one is kind of obvious, but it may be the only option for many people. It may be worth it to take some time reviewing your spending habits, planning a budget, and working your business’ startup money into that budget. One way that I helped keep my startup money separate from my personal money was by opening a business checking account. When I divided my money into the bills I needed to pay, spending money, and savings, I also transferred a certain percentage into my business account.

This method is great for someone whose startup takes up almost all of their free time outside of their job. If this is you, I recommend heading to the bank to get yourself a business checking account and finding room in your budget to put towards your startup.

2.     Freelance in Your Spare Time

Another way to earn extra money towards funding your startup is earning extra pay outside of your day job. One effective way to do this is to join an online freelancing site such as Upwork or Fiverr. Both of these sites allow freelancers to find projects and positions to work on in their spare time. There are many projects available on Upwork including copywriting, video editing, branding, transcribing, and more. You are sure to find a niche market that your skills can cater to on these sites.

It’s hard to get your first couple of jobs, but it always picks up after you gain some experience! Give it some time; online freelancing can become a great source of extra income that you can put towards financing a startup company yourself.

3.     Take it Slow

If you are looking to open your startup as soon as possible, this is not the method for you. However, it can be a great option for someone who can be patient in opening their business. There are plenty of expenses to worry about when opening a startup. Paying for your website, materials and production, marketing, and more can all add up pretty quickly. So, sometimes it is best to take on one expense at a time. When you’ve saved the money, purchase your domain and maybe hire a freelancer to build your site. Then, keep saving until you can take on the next expense whether it be buying materials, applying for a trademark, or otherwise.

Overall, starting a new business can be a long and expensive process. If you plan to fund it yourself, it can be difficult but totally worth it when you’re the only one who has equity. If you can have a little more patience and trust yourself to budget wisely, you can definitely fund your business yourself.

Untitled design (1).png

Meet the Author: Holly Hickman

Holly Hickman is a Kennesaw State University graduate who has worked with a myriad of clients in e-commerce, Saas, hospitality, non-profits, and more to grow their companies with smart digital marketing strategy. She specializes in content marketing and has a keen eye for language and messaging while focusing heavily on SEO.  

Holly is also passionate about health and fitness spending her time outside the office as a full-time bikini competitor and competitive powerlifter. She is also the Founder and CEO of HollyLolly, an athletic apparel company helping women feel bad-ass and confident in the gym whether they’ve been an athlete all their life or are just beginning their fitness journey. You can connect with her on Instagram @holly_hickman.