Business E Suites hosted its third Lunch and Learn Event featuring the topic: Business Funding with Telha Ghanchi, founder of Data Connections and Angel Investor. During these unprecedented times, funding and sustaining a business is one of our first questions as entrepreneurs, but the real mystery is understanding what funding options are available for us? Telha, a small business entrepreneur, tenant of Business E Suites, shared some insightful information about the type of funding a business can get.
What types of funding options are available?
- Trade equity or services for startup help.
- Join a startup incubator or accelerator.
- Solicit venture capital investors.
- Apply to local angel investor groups.
- Start a crowdfunding campaign.
- Request a small business grant.
- Pitch an idea to family or friends.
- Fund your startup yourself.
However, one of the most frequent questions, Telha gets is, “how do I find the money to start my business?” and the reality is that nobody is waiting in the wings to throw money just because you have a new and exciting idea. When seeking professional investors, put significant priority on your previous experience in building a business. They expect to own a portion of the business equity and possibly control the funds they provide. These are tough for a first-time entrepreneur, but it’s always worth exploring.