A group of great organizations in the Durham Region are coming together to put on an event to share all about what is available to you as a business when it comes to funding and financing. Often this is a subject that no one wants to talk about however, it’s one of the most important pieces to starting and running your business. Without funding, it would be hard and next to impossible to start and grow any venture.
Reasons to attend are:
You’re unsure whether you can get bank financing
You’d like to learn how financing from banks, investors and mentor-connected loans can help grow your business
You’d like to know about cash management
You want to know what bankers are looking for from a business
You own your business
Meet the Presenters:
Kristen Marumoto from Spark Angel Network
Faaria Wali from Futurpreneur
Michelle Read and David Vink from Pathwise Credit Union
Mathieu Dallaire from BDC (Business Development Bank of Canada
There is a misconception that there is free grant money for many businesses. Most programs are targeted strictly to specific industries, geographical areas or particular groups of entrepreneurs (minority groups, youth, employment insurance recipients, etc.)
In the early stages, the most important financial sources will be Debt Loans such as Term Loans that can be repaid over a fixed term, Lines of Credit, Peer to Peer Lending (e.g. crowdfunding), Friends and Family and/or Invoice Financing (an advance on the invoices you’ve issued) probably be you, friends and relatives as they help you bootstrap your business start up.
As your business grows and you develop a track record of sales and expenses you can start to look other types of financing such as Equity Financing through investment options like Equity Crowdfunding, Angel Investors, Venture capitalists (professional investment groups) and incubators and accelerators.
The type of financing you choose makes a difference to your business in that it can make or break it. There are pros and cons to the different funding and in our event Getting Funding and Financing we will discuss what programs are available and which may suit your business best.
Read our blog article on a list of programs regarding funding and financing.
Written by: Teresa Shaver