While unconventional financing can cost you money in the long run, it does allow you to avoid borrowing money as a loan that needs to be paid back… whether or not your business makes a profit. With the alternative financing options presented here – if your business fails, your obligation to pay back the money expires. These alternatives, to heading down to your local bank or credit union for a personal loan, are venture capitalists and so-called “angel” investors. In both instances, you are asking individuals to invest their money in your business in exchange for a share of the profits.
Venture Capitalists
Venture capitalists provide money or capital to all types of start-up businesses but should only be considered if your home business concept is focused around technology and if you had access to better hardware it would allow you to make a bigger profit. Venture capitalists primarily look for businesses that have the potential to grow quickly and are run by an experienced and confident owner or management team.
Approaching a venture capitalist is similar to approaching a bank to ask for a loan, except you need to make a more...
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