For entrepreneurs, launching a new startup is an exhilarating experience. It's what we live for. One of the biggest hurdles of starting a new venture is making sure the business has enough funding to not only keep the doors open but also invest in future growth. Unfortunately, nearly 40% of businesses fail because they run out of cash.

Without proper funding, it's impossible for startups to invest in the right technology, equipment, product development and other resources they need to expand and grow. For this reason, entrepreneurs must have a strategy in place to secure the funding they need to unlock the full potential of their business.

Traditionally, most small business owners fund their startup in three ways — personal funds, loans from friends or family, or a bank loan. While these are good options, there are a number of other effective ways to get funding in today's business world.

Related: 7 Ways to Fund Your Startup in 2024

Venture capital seems to be one of the most common buzzwords in the startup world — and for good reason. In addition to cash injections in the business, venture capital often comes with strategic guidance and industry........

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