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How To Raise Capital For A New Startup
In order to raise capital for a new startup, you need to explore all of your options. There are many, to be sure, but researching them all to determine which are best for your particular needs will be worth it in the long run.
Capital is the backbone of a startup, so it must be secured in a reputable way. If your capital comes from an untrustworthy source, it will not help build your business to the level of prestige necessary for lasting success.
Consider the following seven, popular ways of raising startup capital. Don't worry about pursuing all of them, but don't focus solely on one, either. Be open to possibility and aware of your best interests!
8) Use your own money! Of course, it is ideal to hold onto your personal savings, but just a little personal sacrifice can make the difference between failure and success.
9) Get a loan. There are many institutions looking to help new businesses by providing startup capital.
10) Apply for grants. The government offers many grants to developing businesses, as do other reputable ...
... entities. The best thing about a grant is that you don't have to pay it back!
11) Use credit. This is not the best option for keeping interest costs down, but it can be a fruitful substitute for a loan if you have been previously rejected.
12) Try to find extra work that is related to your startup. Seek work as a consultant or related side jobs that can be valuable based on finances, as well as experience.
13) Look for angel investors. Angel investors are often the first choice among startups, as they are actively looking to invest in businesses. All you have to do is make sure you pitch them a great business plan and convince them that their money will be well spent.
14) Explore venture capital. There are many firms, such as Bertram Capital, that exist solely for this purpose. This is often the most abstract form of finding capital, but it has proven successful for many business owners in the past.
For more information about raising capital, you may wish to speak to an experienced professional. Jeff Drazen, Managing Partner at Bertram Capital, for example, has a wide range of expertise relevant to new business capital. Consultants are also available to help new entrepreneurs make the right decisions to get started on the right foot.
Jeff Drazan oversees Business Services, Manufacturing & Operations and Technology investments for Bertram Capital. Jeff Drazan was previously a co-founder and Managing Director of Sierra Ventures, a Silicon Valley venture capital firm with $1.5 billion under management.
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