Funding

Grant funding:

Grants are a liable way to be funded, as they are funding streams that are usually given by a public body such as a government facility. These grants are given usually if the person receiving it meets a specific requirement, therefore allowing that person to fund their plans. Examples of grants: 

• R&D Funding: This grants is a UK government grant that helps with businesses that are trying to get off the ground. They provide funding for things such as you have a proof of market which allows you to get funding for your idea.
• Local grants: A local grant is that for very small businesses, this is similar to R&D Funding however that is aimed toward larger business ideas and therefore they provide much more than a local grant would.

Advertisements:

Advertisements are also a good way to get funding, by talking to a larger company they are able to give you money if you are to advertise and use their product or company in your product. This leads to a mutual benefit and therefore both companies involved in the advertisement deal benefit as the company that funds the product get recognition out of it.

Sponsorship:

Sponsorships are when a company will fund your product if you physically display and use their product in your production. This form of funding can be seen commonly in social media posts and allows for both companies (similarly to an advertisement) get a mutual benefit out of the funding.