Getting the finances right for your fledgling business will be the deciding factor in your success. Even with a great idea and plenty of ambition behind it, businesses can fail early on due to insufficient financial planning. Getting the right funding and managing your money correctly will go along way to ensuring that your business succeeds in the long term.
Finding The Funding
After making a thorough business plan and mapping out the route to profitability, most aspiring entrepreneurs find themselves facing the challenge of finding funding to get their business off the ground. There is a range of options available to most business owners when it comes to loans and financing. Here we cover just a few:
- Bank loans
- Credit cards
- Pitching to angel investors or venture capitalists
- Raise money from friends and family, as loans or gifts
To secure most forms of loans or funding for your business, you’ll first need an extensive business plan, a funding request to investors that lays out your financial projections, history and any other relevant data, as well as information about your current business and personal assets. Once you have all of the data and projections necessary to secure funding for your business, you’ll be ready to make important decisions about what form of funding will suit your business needs.
Ask The Expert
Making this decision alone is never an easy task, especially if you’re new to the world of business. Even experienced entrepreneurs can benefit from professional advice at certain points in their career, if only to delegate responsibility to someone accustomed with financial planning and budgeting.
When you’re seeking funding for a new business, an experienced and professional financial adviser is even more essential. Here at Peter Dunn Finance, we offer a range of financial services that can help you on the road to making your business dreams a reality. We’ll sit down with you one-on-one and analyse your needs in detail, from your business plan to your financial needs and projections. We’ll give you objective and non-biased advice as to which form of funding will be best to get the capital you need, and will offer a range of loans and lending solutions with the best interest rates available.
Going through the endless lists of loans and rates on the market can be confusing and time consuming for most, so let us do the hard work for you. We’ll narrow down your options and give you the guidance you need to make your business work.