Here's some WIEDER ASSOCIATES tips about
FINANCING YOUR BUSINESS
Convince Lenders That You Are A Good Risk:
#117. When you visit with a banker, you've got to have an attitude! That attitude is that you don't need the money. But if you had the money, the business would grow at its planned rate on an even stronger and more secure operational base. Be prepared to back up your attitude with well thought-out forecasts and a set of assumptions based upon solid and independently supported research.
Where NOT to Look for Money:
#33. Public offerings of stock are rarely appropriate for small businesses. Costs are prohibitive (often well over $100,000) and annual expenses for S.E.C. filings, audits, shareholder relations, annual reports and public relations frequently amount to more than $50,000.
Where Do Startups Find the Dollars:
#55. On the average, personal funds usually represent nearly 60% of the start-up dollars needed. Lending institutions provide about 23%, friends and relatives just under 10% and the rest (about 7%) comes from investors, venture capital firms, government loans/grants and a broad variety of other sources.
Don't Forget Your Customers When You Look for Money:
#83. If you have a loyal following of customers/clients, you can often tap them for needed funds. Among the many things you might consider: bill annually for year-long service contracts; collect advance payments before shipping products; offer layaways; sell gift certificates; issue memberships; offer discounts .
MUCH MUCH MORE IS
(We're Still Under Construction)