Tag: funding

Finding an Investor

Posted by WFG – August 29, 2011

Finding an investor might sound simple, but it isn’t. There are a series of different strategies and the chances are you’ll need to put them all into action. Just remember that if your business idea is good, they’ll need you as much as you need them. Pitch your business well and you’ll be in a commanding position.

Know Your Plan

Before you start pitching your business and finding an investor, you need to know what you’re looking for. There is a typical angel investor and you should aim your search for the following points.

Age: 40-60

Income: Exceeds $100,000 Read the rest of this article

Pitching Your Business

Posted by WFG – August 26, 2011

Pitching your business can be a nerve-racking experience. We all remember the time, as children, when we had to make a presentation at school. Your hands would shake and your speech sounded wrong, all this, in front of a room full of people. Though years have passed, your body still acts the same. The only difference now is that you’re pitching your business to potential investors and have the future of your business in their hands. Read the rest of this article

How to Find an Investor in Toronto

Posted by WFG – August 25, 2011

Toronto

Image courtesy of alexindigo

Working out how to find an investor in Toronto can be a tricky business. You look online and only see broad articles that don’t explain the ins and outs of the city. And when you look closer the articles lead you back to where you started. So what’s the best approach?

It’s Not What You Know, It’s Who You Know

The first thing to do when working out how to find an investor in Toronto, is speaking to contacts. Though it may seem like an outside bet, you’ll be surprised with who knows who, and if they’re local, you’ll have more of a chance in finding your investor. Ask anyone you know to send out the message that you’re looking, and then start with the next steps.

How to find an investor in Toronto with Networking

Some people don’t have contacts, so try networking. There are a wide number of websites for potential small business owners, so try online, then in local publications. Enterprise Toronto is a great place to start, and they will also have links to sites that might come in handy. Read the rest of this article

Video Investment Pitch Online

Posted by WFG – August 24, 2011

One of the newest ways to gain funding for your small business is to try a video investment pitch online. But despite Youtube growing in size every day, not many outlets offer this form of exposure. So why bother with this source of investment pitch?

The Modern World

De Draak

Image courtesy of Hans Pama

On TV there is a program called the Dragons Den, where entrepreneurs pitch their business to investors, and hope to gain funding. It gives them national coverage, and though some ideas are rubbish, others get the money they need and help the company move onto bigger and better things. Read the rest of this article

Boost to Florida Small Businesses

Posted by WFG – August 18, 2011

A federal program has promised that small businesses in Florida will have more access to funding. This comes after years of tight business loans and conservative company managers. The change will help many with long waited expansion.

For more on this news visit the Capitol News Service.

What is Considered a Small Business?

Posted by WFG – August 11, 2011

As you start up your new business it’s important to get a grasp on your status. At a certain size you can expect to receive benefits and the opportunity to take advantage of these is imperative. But if you’ve been growing, what is considered a small business?

To begin with, the correct method for declaring if you’re a small business depends on a number of factors. Firstly the rules may change depending on which country you’re in. Though we will be looking into the USA standards, and many will follow a similar pattern. You’ll also need to know what industry you specialize in. Read the rest of this article

How to Start an Investment Business

Posted by WFG – July 7, 2011

Starting an investment business can be a tricky process with several steps to lead you along the right path. Some will require large investments, while others will involve the smaller shoestring possibilities. Taking the correct steps is significant in starting off well.

  • The first move is to get licensed. You have to be individually licensed to begin an investment firm, but the contract will depend on the type of investments you plan to deal with. In addition to this you will also need to acquire a series 6, or series 7 securities license. These securities tests will include exams.
  • Register your company.  When you have passed the necessary exams you’ll need to register your company. This process varies depending on which country you live in, so be sure to check your government website for more details.
  • Raise money. At the beginning you’ll be spending more money than you expected. With license fees, offices and workers there will be a large outgoing. So be sure to make the money, or look for funding.
  • Choose the product. Most companies have a market which they aim to work in. As you are starting out make sure to begin with your look into small ventures, then expand as you grow.
  • Find and office and workers. As you grow you’ll need an office and workers to help with the natural progression of the investment business. Hire managers first and get them to help you with the arrangements.
  • Start by being an independent contractor. This way you can use your own office using a large firm’s name. You may have to split commission but it’s a good way to gain experience without as much risk.

For more information on how to start an investment firm, contact the Winflow Financial Group.

Small Business Credit Cards and Financing

Posted by WFG – July 5, 2011

When we see the huge corporations, we sometimes forget that they were once a start-up company. Most struggled to get their feet off the ground, and without financing they may never have reached the size they are today. But while many banks refuse financing, why not use small business credit cards?

To begin with, let’s start with the advantages. You can draw out the money you need, when you need it. This stops the massive loans that some small companies take out and the interest you pay. It gives you a set amount that can be spent and might help with keeping control of your financing. You also don’t have any investor, which means you can choose what you spend your money on. To use a credit card for your startup business there are some valuable steps to keep to.

  • Avoiding the blend of company and personal finances. By using small business credit cards, and using it only for your company, it shows you are serious.
  • Using a small business credit card helps with tracking finances and expenditure.
  • Using credit cards professionally will help build your company credit rating. If you need extra funding in the future, a good credit rating may just give you the edge.
  • If you use your credit card well, then there is always the option of rewards. These might not be much, but it may help with flight tickets and business expenses.
  • With many of the business credit cards, you have the option of providing cards for your staff too. Just be sure to monitor spending on separate statements.

The problem is that some people don’t have control over what they spend and make credit card mistakes. They buy things they don’t need, max out the card and then get another one. When starting a small business with a credit card, you’re on your own. With too much debt you may eventually get a bad credit score and put off future investing in your company.

Without the option of future investing you will put your company under pressure. This investment funding will be needed as your business grows and could be the helping hand you need to make the step up from a startup company.

Another problem with using a credit card is the inability to spot fraud. Scams are becoming complex with the introduction of new technology and even the most basic are hard to notice. Be sure to keep an eye on your company credit cards and be aware of fraudulent activity.

If you are good with your money, and pay back debts, then your credit score won’t be dramatically damaged. With credit cards you must be focused on which ones are best for you and company, and keep a control on spending.

For more information on small businesses and start-up companies contact the Winflow Financial Group on 1.800.956.6897.

Writing a Technology Plan for your Small Business

Posted by Winflow – June 21, 2011

The proper application of technology to your small business can save you valuable time and money. If you’re looking to invest in new technology but need assistance funding your decision, it is a good idea to write a technology plan. A technology plan can be thought of as a funding proposal. Many lenders require technology funding proposals before deciding to fund a project. If you’re writing a technology plan for your small business consider the following:

  • First decide if you need any outside help like a consultant or a technical assistance provider.
  • Decide what your small business wants to accomplish with the introduction of new technology. Continue updating what you want to accomplish as your business grows.
  • Include an executive summary that gives lenders a run-down of your technology plan.
  • To set context, explain the type of small business you are and why the application of technology would help your small business.
  • Explain how the introduction of new technology which help you achieve your company’s goals.
  • Discuss the current technological advances you have in place and how effective they are. Assess what training staff would need to use the new technology.
  • Demonstrate how you can better serve your customer’s needs with the introduction of new technologies.
  • Develop a realistic budget and time line showing how you plan to use new technology to achieve business goals.

If you need help writing business plans for your company, contact the Winflow Financial Group.

Writing a Business Loan Proposal

Posted by Winflow – June 13, 2011

Without a secure source of financing, starting a small business can be impossible. Getting a loan from the bank can be difficult, especially for start-up businesses. To improve your odds of getting your loan application approved, pay attention to the following:

  • Research different lenders. Find out how likely they are to finance start-ups and what their minimal collateral requirements are. Choosing a lender that fits yours business needs will make loan repayment easier.
  • Your proposal should contain a business plan, a risk assessment and a copy of your financial history.
  • Your business plan should describe your business in detail, giving the lender a clear picture of what your business is trying to accomplish.
  • A risk assessment lists all the potential risks involved in running your business.
  • If you don’t have a business financial history, lenders will look at your personal credit history.
  • Include revenues and expenses for the past three years. If you are new business, include projected revenues and expenses.
  • Ensure all of your information is correct. Providing incorrect information could result in a denied loan application so proofread your proposal after you have finished it.

For more details on writing a loan proposal, visit this Canada Business page.

If you need assistance securing funding for your small business contact the Winflow Financial Group.