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raising funds

I have encountered some (not many) who do have a sound business plan and in some cases have the background and " expertise" to open a business. Their business plan is well formed and look in my opinion do have chance of starting or expanding a business. But unfortunately they lack the funds to pull it off. Is there an agency. or group or what ever that is in a position to advance the funds. the money required. In most cases is relatively small ($5,000 to$10,000) amount required. We would have to be in a position of support (physical presence) to offer some assurance that the business has a chance to succeed. This would in my opinion greatly advance our cause and give some a chance to "make it". This would have considerable risk but if properly administered open an opportunity of pulling it off. . There is a lot of interest right now in small business. and if we can take advantage of this it would much to our credit. I would be interest in any feed back with some ideas. Mike DiBello

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In early stage, don't debt with banks. In early stage there are several options of funds: Firends& Family, Angel capital, and venture capital. But the thing is, VC and Angel won't be interested in small potential total addressable market(TAM). So I would suggest you calculate the TAM of the market first. If it's large enough like billion then you have the chance to get A round with VC. If not, I would suggest raise fund form friends&family with equity ad exchange.

Report Yu Chieh's answer

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Thank you for giving your responce - I am aware of obtaining funds for a new business is very difficult and as you suggest - Family and Friends are the best. But I am suggesting -we get involved in money raising with the purpose in mind - funding new business. I know this is a way out idea giving the make up of Micro Mentor - But there is lots interest in "helping" small business and I am asking the question can we do something to take advantage of this. Can we lay out a platform that is attractive to money sources (grants, private individuals, clubs, etc.) and present it to possible prospects. I think our leadership should consider this idea - to expand our ability to assist people "entrepreneurs" Mike DiBello

Report Gaston ( known as MIke)'s answer

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Hello, I am looking to start a company on precisely what you are explaining but one of the challenges is how to find start up cost for a "Start Capital Company" without already have adequate start up cost lying around I am in a need of investors who are willing to invest in an investment company.

Report Laquinas 's answer

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I do not like answering my own question - but I did see a very positive answer - Amazon is opening a program for small business in which the small business people can obtain funds - I have not researched the program - but the write up was very positive. I have a couple of clients - that I suggested they investigate and report back. They do have excellent business plans and some opening funds (small amount) I will report how they make out. Mike DiBello

Report Gaston ( known as MIke)'s answer

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I did contact Amazon - and their program is not for new beginners - must be in business - operating for a period of time (I believe one year) have cash in the bank etc. Mike DiBello

Report Gaston ( known as MIke)'s answer

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If you have read any of the above questions about raising funds I am sure your realize the difficulties and see without funds you do not have much of a chance. So I strongly suggest you have funds or source at your disposal. I have worked with people who have the funds to get off the ground, and soon realize it is not enough - they have to "live" and there is not funds to do both. Keep in mind - you represent considerable risk - to your self and to any one supporting you. So if you do not "make It" do you still owe the money in most cases. Beware of taking someones savings (etc.) which they will need in the future (retirement funds). Some parents or close relatives are willing to do this - but you are putting them in a risky situation. Your "great idea" does not always look good to others - market testing is a must. I realize I am expressing a negative - but it can be just a stumbling block - if you are willing to make the sacrifices and pursue with courage and intelligence - to face the realities of having your own business. It is not an easy path - lots of BIG hills. I have been there - and have met some of the hills. Mike DiBello

Report Gaston ( known as MIke)'s answer

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