We hope you’re enjoying the warmer weather and finding some time to relax and put your feet up. Have a look at these small business articles & blog posts we’ve enjoyed recently – is there anything you’d like to share?
Do you need to raise more funds than you can get through “love money” from family or friends, but don’t need as much as venture capitalists invest? Your small business may be ready for an angel. Angel investors are well-to-do people who invest money, usually their own, in start-up ventures. For that investment, they often get a portion of the ownership of the business.
So what do angel investors like?
A patentable technology or process
A product or service with a distinct competitive advantage or very unique selling proposition
A strong team — preferably with experience
How to find angel investment in Canada
The secret to finding individual investors is through networking. Communicate regularly with business community members who are in touch with angel investors like lawyers, accountants, bankers and other business owners.
You may also want to investigate one of the angel networks that operate across Canada. Here are a few:
“Where do I get the money to start my business?” is perhaps the most common question entrepreneurs ask.
However, we believe entrepreneurs should really be asking, “What is the best kind of funding for my business?”
There’s no one-size-fits-all solution when it comes to getting funding for your small business. There are many sources, varying amounts, and of course you must ensure the funding you have your eye on is actually suitable for your small business.
Here are a few things that you should keep in mind when you’re working on your small business funding plan:
Stage of the venture process – Are you in start-up? A growth phase? Maturity?
Your business’ achievements and financial performance
The state of your industry
The type of technology your business is based on, if applicable
The growth potential of your business
Amount of money you need
What your company is worth
Number of years before an exit strategy is available for investors