The most significant problem in starting up a new business is raising the capital.  Especially in starting the photography business, initial capital is required to purchase the equipments, rental for the premises hired, utilities, advertising etc. There are so many ways by which the capital money is raised to cover the initial costs as mentioned above.  Though some people may be able to invest their own money, this is not viable for everyone to do like that.  

Loans can be taken from banks and other financial institutions.  Also there can be backing from the third-party investors.  However, due to the uncertainty in the economic scenario, it is impossible to get the start-up capital readily unlike the olden days.  The next option would be to find out whether it is possible to apply for the grants.  There are various organizations like, Government, Charities, and Regional Development Agencies who offer new business grants.  

Though the Government grants are beneficial, It is very difficult to get the same without much efforts.  By availing the Government grants, there is no necessity to repay the money received and also there is no requirement to give any share in the photography business.
The criteria for getting the government grants for the photography business are very strict. Though there is no general grant for starting the business, the Government offers finance only for some specific projects and starting businesses in selected locations, like backward area etc.  It should also be taken into account that the government grants are available only for the new projects that have not begun yet.

While giving grants, the Government expects the photography businessman to raise the same amount as capital to match the sum they awarded as grant. Though there are no restrictions about the source of the capital raised either through loan from the banks or third-party investment, as long as the amount matches with the grant sum, there is no problem and the same is acceptable to the Government.  

Government grants are available for specific purposes like innovation, research and development.   Hence if the photography business is introducing new photographic equipment, then this becomes eligible for the grant.  Also the grants are offered for starting businesses in specific locations which provides employment to local people and helps to improve the development of that area.   

Before starting the photography business, a clear cut objective and plan has to be drawn so that it becomes easier for make a project report to be submitted along with the grant application.  A detailed market survey and research should be carried out for this new business.  Also the insurance requirements in the photography industry should be studied and analyzed thoroughly.   The option of taking funds from the friends and relatives for raising the initial capital can also be explored.  Marketing and advertising play a key role in developing the business in the initial stages of the start up.  Hence by appointing an advertising agency, the corporate identify has to be developed and the advertisement campaigns have to be done to make the business a great success.               

Small Business Grant Source:
Learn the application procedures, various funding sources for specific types of businesses and eligibility criteria for small business grants. You can find the most comprehensive information on availing of small business grants by visiting this online guide on grants here