Panzarino - Business Funding for Dummies

Business Funding For Dummies

Published by: John Wiley & Sons, Ltd., The Atrium, Southern Gate, Chichester, www.wiley.com

This edition first published 2016

2016 John Wiley & Sons, Ltd, Chichester, West Sussex.

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ISBN 978-1-119-11159-7 (hardback/paperback); ISBN 978-1-119-11161-0 (ebk)

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1. Table of Contents

The fact that youve taken this book off the shelf or been given it as a gift is a good indication that youre seriously thinking about starting or expanding your business, and you realise that youre going to need some other believers, in the form of lenders, investors and facilitators, to accompany you on your roller-coaster journey. Firstly, well done for thinking outside the box, and secondly, congratulations for realising that help is at hand and you dont have to do everything on your own.

Whatever your reason for dipping into the pages that follow, its safe to assume that you have an inkling that luck and a fair wind are not enough to enable you to achieve funding success for your business, and you want to find out as much as you can in order to ensure that you come out with the best result for you and your business.

This book starts with the premise that a good idea, better-than-average skills and hard work are not enough for you to raise the finance you need to create a viable business one with growing revenue, healthy profit margins and a good rate of return on investment. It brings together information and examples from a wide variety of sources, some essential knowledge, and some tips, hints and guidelines for maximising your efforts to achieve funding success, no matter what the economic backdrop is.

Half of the businesses that start this year will fail. Of those that survive, few will reach the scale necessary to make a significant impact on the UK economy as a whole. Everyone in the business community wants to see this situation improve, and its clear that some extra help is required.

One area thats been identified as a stumbling block to business growth is accessing appropriate business finance (you can find out more in the government-commissioned Scale-Up Report). Many smaller businesses arent aware of the full range of external funding options on the market. However, you can find a good deal of funding out there, and like water trickling down and through, itll find its level. This funding is looking for good business deals to invest in, but not just any old deal flow; it wants good, solid businesses with amazing teams and a product or service that has a growing and sustainable market. Its up to you to find the right funds at the right time and for the right price.

If this isnt happening, it may be due to:

• The lack of a strong business foundation to approach funders from
• A lack of awareness about what funding products are in the market, or where to find them
• A lack of education and practical understanding as to how to effectively prepare and successfully approach and obtain funding
• Entrepreneurs and business owners feeling overwhelmed in the face of the changing funding landscape, which now has technology-enabled platforms adding a new dimension to the receding traditional offering

This book gives you help in all these areas.

In addition, every business needs a business plan, an eye-catching pitch deck, an impressive investment memorandum or opportunity note, and a short, sharp, crystal-clear executive summary. You also need a well-researched and thought-out story that covers how much money you need, what youll use it for and what youll provide in return to a funder that has the faith and conviction to back you, your team and your credible plan and idea.

This book is also invaluable to the inventors and innovators among you. If youre researching or developing some groundbreaking or life-changing product or service, you may benefit from the down-to-earth business advice and guidance I provide, as well as the unearthing of possible financial support, be it tax credits, grants or competitions. Your discoveries may mean the difference between your next big thing languishing in the bottom drawer or successfully travelling from the lab to the light of the public gaze.

Business Funding For Dummies, UK Edition, can help you succeed no matter what stage of funding youre seeking. Whether youre about to take your first plunge into funding or youre an experienced entrepreneur, you can always discover something new. This has never been more relevant than in the current funding climate, where alternative finance is really finding its voice and creating many challengers to traditional providers, and the lines between investment rounds made by equity providers are blurring, opening up avenues that may have previously been closed to you.