When it comes to expanding your business you can start by looking at your own personal savings. Many entrepreneurs do, but quite a few of them may find that their personal savings are depleted or are not enough to help them meet their financial business needs. Here are some additional areas to explore when looking for business funding sources:
Borrow close to home. Friends and family are a good place to start looking for funds to borrow. If you have some that you believe have the money, mention it to them to feel them out. If there is interest, take the next steps to start really exploring the idea.
- Venture capitalists. There are plenty of venture capitalists who are looking to invest their money in something they think is a good idea. Seek them out and give it a shot. Check out the show “Shark Tank” to get an idea of how to go about pitching your idea and negotiating what you want.
- Bank and government loans. Most people know about bank and government loans that are available. Explore what there is and see if you can qualify for them.
- Angel investors. Doing a quick search online will net sites that feature angel investors. They are usually investors that invest small loans in order to help people get their business funded, and they often like to keep it more local to their city or state.
- Fundraising. With sites like Kickstarter now around it is easy for anyone to run their own fundraising campaign. By setting one of these up you can give people a clear view of what you need, why you need it, and you can promote the fundraising page in order to get the word out.
Businesses in Rocklin and Sacramento and throughout California have plenty of options when it comes to finding funding sources. It’s really a matter of taking the time, and having the patience, to explore them all and find the right one. Regardless of which option you go with you should always have a business attorney review any contracts or agreements prior, which will help to protect your business and the investment.
The Law Offices of Terry L. Gilbeau provides personalized counsel to clients in a variety of business and personal matters, including creditors’ rights, debt collection, products liability and international transaction issues. His office is located in Rocklin, CA, just outside of Sacramento, CA, near Roseville, Lincoln, Auburn, in Placer County and can be reached at (916-626-5539) or email Terry at firstname.lastname@example.org. Click here for the firm website http://www.gilbeaulaw.com/