Sourcing funds from alternative sources – where should I be looking?
When money becomes more and more difficult to find for your struggling business, it is vitally important that you develop the ability to source funds from alternative areas.
These could range from the radical to the run-of-the-mill, but the key is that they represent a new source of income or investment. Contacting business turnaround specialists is one viable avenue that you could take in this situation, but there are also other options.
The Angel CoFund, a business initiative which seeks to link ambitious small firms with potential sources of investment, received Government backing this week. Ambitious firms across the UK should be using this news as motivation to ‘think outside the box’ when it comes to investment.
So, what could you do to attract potential new investment for your ambitious business?
Catch the eye of venture capitalists
Venture capitalists make their living from spotting an untapped opportunity and adding their support and investment to encourage growth. In many cases, this can take the form of a smaller business which may provide a unique service/product, but can’t find the investment needed to take their operation forward. Marketing your product in the correct fashion could be exactly what is required to catch the eye of a venture capitalist that is cash-rich and keen for a challenge.
Set your stall out at a trade show
Trade shows are one of the most conventional forms of attracting interest and potential investment in your product, but there is no way of guaranteeing results. However, if you have tried a number of approaches without success then a radical new marketing platform may be worth a try. A national trade show could be the ideal platform to showcase your new angle and may just have the desired impact.
Contacting the insolvency specialists
A corporate insolvency specialist such as Moorfields can assist business leaders, financial directors and stakeholders to seek alternative but effective sources for potential new investment.
This could be particularly useful given how uncertain the immediate future could be for companies across the UK in 2013.