| The number one concern of start-up entrepreneurs and growing small business owners and managers is how to finance their venture. When the personal financial resources of the entrepreneur are exhausted, when the tradition of going to family and friends for “cradle equity” has been thoroughly “worked,” and when incurring personal debt from a bank for a loan is no longer a viable option, then raising private capital can be one of the toughest challenges for many entrepreneurs. Whether you have an as-yet-unproven, visionary start-up or already own a small, established company hungry for expansion capital, access to capital on the right terms is critical to your success.
Available for financing are an array of alternative capital resources, but the problems center on which are most appropriate for you and where do you find them. While economic conditions during the previous four years have had an impact on capital availability and increased competition among entrepreneurs for that capital, alternative, nontraditional capital resources are out there.
For some companies—those possessing the right mix of attributes— money will be available; yet for many, understanding where to look, how to present, and how much money is needed comprise just a few of the questions for which business owners are ill-prepared to answer. How do you uncover the dozens of alternative ways to finance your company and prepare for raising capital? |