An increasing number of entrepreneurs feel more empowered to launch their green businesses.
In essence, a “green” company strives to positively impact the environment and community besides generating profit.
The strategies and practices developed by green businesses are committed to lowering their overall environmental impact and building a more sustainable future.
Aside from putting forward their sustainable beliefs and advocacies, green business owners are also tapping into a rapidly growing market.
In fact, Markets and Markets note that the environmental technology market is expected to reach £502.94 billion by 2029, thanks to a compound annual growth rate of 4.6%.
Besides, the Convention on Biological Diversity’s Global Biodiversity Outlook 5 notes that businesses that recognise the importance of nature and protect it tend to perform better on the market.
If green businesses are indeed the future and you have an idea that fits here, you would still need to know how to find funding for it. Here, we list four ways you can raise capital for your green business.
Take out a small business loan
The first option that most startups or early-stage businesses go for is to take out a small business loan.
For one, small business loans have lower interest rates and more flexible terms than credit cards and other loans.