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15 tips for obtaining small business funding

Whether you have a good idea or are already up and running, small business funding can improve your chances of success, and the options today are quite diverse.

funding

small business funding

Small business funding today

Small business funding used to be restricted to a dreamer walking into a bank with a dream, and hoping they buy into it, but today, the options are vast. Because funding sources are so diverse today, it is necessary to prepare fully to ensure your chances at obtaining funding, from knowing what to expect to pitfalls, and finally, what funding options are available.

Preparing your business for funding

No matter the stage of your business from concept to established, sometimes it takes a few dollars to get things kicked off, so being fully prepared and doing your homework can get you ahead of the pack. Here is a selection of articles to get your gears turning:

  1. 3 simple things you must do to keep fundraising on track
  2. What entrepreneurs can expect during due diligence
  3. 3 things every founder should look for in an angel investor
  4. 5 common mistakes entrepreneurs make when building a startup
  5. Your secret weapon in business: setting up your SWOT matrix
  6. Create your own expense model and projections
  7. Adding women executives increase the likelihood of a startup’s success
  8. Spotting waste in your business budget in 5 steps

Next up, obtaining funding

You already know you can walk into a bank and ask for a loan, and you probably know that angel investors and venture capitalists are on the lookout for killer ideas, but did you know that there are dozens of alternative funding sources from the Small Business Administration, alternative accelerator programs, and even crowdsourcing? Here is a selection of small business funding and accelerator options on the market today:

  1. Stats: how small businesses are getting funding today
  2. Crowdsourcing: an increasingly popular funding alternative
  3. Major cities offering seed funds
  4. Startup accelerators aren’t just for techies anymore
  5. Amazon offers loans to online sellers
  6. Start your own business with non-bank non-venture financing
  7. Join a network for private investing

So with some homework, preparation, and awareness, you’re one step closer to getting a “yes” when you pitch your idea at one of the various funding opportunities.

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The American Genius is news, insights, tools, and inspiration for business owners and professionals. AG condenses information on technology, business, social media, startups, economics and more, so you don’t have to.

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