Has your flower shop repeatedly applied for funding only to be denied? You’re not alone. Many small business owners—including florists—are reporting limited access to capital, making it difficult for them to aggressively pursue growth opportunities.
Every startup needs access to capital, whether for funding product development, for initial rollout efforts, acquiring inventory, or paying that first employee. Most entrepreneurs think first of bank loans as the primary source of money, only to find out that banks are really the least likely benefactors for startups. Thus “creative” really means maximizing non-bank financing.
Sporting goods stores have no offseason; they’re constantly adhering to customers’ demands and purchasing inventory for every new season that comes. And like any small business, sporting goods stores need financing in order to keep up with the constant demand they face on a daily basis.
Time is too precious to waste trying to close a deal with the wrong investors at the wrong time. Luckily, not all investors are looking for the same thing, so it pays to know what type of investors are most interested in what your startup brings to the table.
If your full-service restaurant has applied for and been denied a bank loan in the past, you’re not alone. Historically, restaurants have been one of the riskiest industries for entrepreneurs to undertake and banks have always been weary of lending to them.
As a small business, finding access to finance when you need it most can be very challenging and might seem impossible but there are alternatives to taking out bank loans or using your own personal funds to overcome a cash flow crisis.
Cash flow is simply the net change in a company’s cash position from one period to the next. So, can something that sounds so mundane really mean the difference between the success or failure of your business?
Angel investors, particularly those in organized angel groups, are typically former entrepreneurs who have had successful liquidity events in their pasts, or executives of companies who’ve retired with the funds from their stock options.
Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.