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How does one get financial support to start up a project or boost a business

I would like to get financial assistance to boost my cosmetics shop, besides I have a project would like to put in action charity works , looking for finance to support those unable to get food ,clothes and other basic needs moreso this coming Christmas Eve, I would like to put a smile on many who are unable to get all these. Hoping for the best. Thanks Yours sincerely Donny

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Hi, Having good amount of financial support can make or break a business. However some financial support comes with a risk. My advise would be to dive into your own money such as retained earning of a business, personal savings etc as it does come with minimal finance cost . 2nd option should be to look for NGOs and government funding dedicated for local small business. After covid many governments have such programs. Perhaps search on programs mentioned in this article on government website of Uganda. https://mglsd.go.ug//uwep/

3rd option can be getting financed by the bank. Bank financing is usually easy but comes with a cost. You'll have to get in a contract with the bank and probably bank will have some control over the decisions of the business. Not to forget bank will charge finance cost and also will ask for collateral.

I hope this will help you in putting your Charity and Business into booming success.

All the best.

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