Week 6: Investigating investment
Last week, your focus was on marketing and promotion. This week, you’ll start to look at how you can finance your business idea. Many freelance businesses are low cost, take minimal investment to set up, and are often funded by the freelancers themselves. However, there will be ideas that require investment from others, whether that is in the form of grants from public bodies or more commercial investment options.
Watch this video of our creative freelancers talking about how they’ve dealt with the financial aspects of their businesses, including successfully applying for funding.
By the end of this week you should be able to:
- estimate the costs involved in setting up your project or idea
- assess whether your project or idea might be eligible for external finance
- research the different options that could financially support your project or idea
- describe the key elements of a successful funding application.
How much investment might you need, and what might you need it for? You’ll consider these questions next.