I am looking into opening a small business but am nervous about diverting money from my retirement savings to fund it. I've looked into other financing methods; bank loans, crowdfunding, etc. One thing I've come across is micro-bonds, which are like crowdfunding, but you have to pay back the money. But I can't find a Canadian micro-bond site.
Anyone know of one? Other alternative methods of funding a business?
Diversification and funding a small business
Re: Diversification and funding a small business
Angel investors and angel investor networks. Think Dragons Den without that blowhole O'Leary. I have a friend that belongs to one network. They are generally set up and interested in high tech and manufacturing concerns, so not sure what you are into.
Re: Diversification and funding a small business
A cool restaurant in an under-served market. I'm not looking for millions of dollars, as local costs are quite low.Koogie wrote:Angel investors and angel investor networks. Think Dragons Den without that blowhole O'Leary. I have a friend that belongs to one network. They are generally set up and interested in high tech and manufacturing concerns, so not sure what you are into.
-
- Veteran Contributor
- Posts: 2564
- Joined: 31 Dec 2006 10:49
- Location: Southern Ontario
Re: Diversification and funding a small business
With restaurants being so risky, with very high failure probability, you'd be hard pressed to get regular financing, let alone anyone giving you money if you have none of your own invested. And unless there's a social cause of some sort, why would you expect crowd funding to work either?apater wrote:A cool restaurant in an under-served market. I'm not looking for millions of dollars, as local costs are quite low.
Re: Diversification and funding a small business
I did not think this was the place to spell out my business plan and on why I believe I can succeed in such a competitive environment. Suffice to say that I have experience and have done my homework.HardWorker wrote:With restaurants being so risky, with very high failure probability, you'd be hard pressed to get regular financing, let alone anyone giving you money if you have none of your own invested. And unless there's a social cause of some sort, why would you expect crowd funding to work either?
Anyone with a link to some type of micro-bond system for Canadians?
Crowdfunding a small business
It appears to me that equity (or bond) crowdfunding has some regulatory hurdles still to be resolved. At least I haven't found any sites which have made the leap.
In the meantime, I am testing the waters at US site go4funding, but am unsure how it will all work out.
In the meantime, I am testing the waters at US site go4funding, but am unsure how it will all work out.
Re: Diversification and funding a small business
As an investor I would be very reluctant to fund a business where the principle didn’t have most of his own money already tied up in that business.
If you feel there is too much risk to invest every cent you have why would I take the risk?
If you feel there is too much risk to invest every cent you have why would I take the risk?
"And the days that I keep my gratitude higher than my expectations, well, I have really good days" RW Hubbard