bootstrapping your business march 23 rd, 2011. what we do support the growth of new and existing...
Post on 21-Dec-2015
215 Views
Preview:
TRANSCRIPT
2
What we do• Support the growth of
new and existing businesses with innovative opportunities
• Facilitate connections• Innovator Member
Program
3
How do I finance growth?• Equity – your own investment
– Leverage it• Love money – friends and family
– Leverage it• Angel Investors
– Leverage them• Loans• Government support programs
4
Programs frequently accessed by business
• Northern Ontario Heritage Fund (NOHFC)• Employer supports
– Youth Interns (FedNor and NOHFC)– IRAP and OCE– Wage Subsidies
• IRAP• Canadian Youth Business Foundation
5
Government Sources• http://www.gfundsonline.com/index.php
• http://www.ontario.ca/en/business_program/categories/ONT04_036384.html?category=&itemCount=200&sOrder=Desc
• http://www.sse.gov.on.ca/medt/investinontario/en/Pages/Government_Programs.aspx
6
Bank Financing• Know what you need
– Short term vs. long term financing– Set objectives
• Shop around– Not all banks are the same
• Prepare– Fact vs. Fiction– Performance History
8
Show Me The Money• Bankers are methodical not intuitive
– Use logic not emotion• Prepare a proposal
– Company description, management team, performance history, marketing and production plan, human resources
• Remember the 5 C’s of lending!!!!
9
Strategies to use• Illustrate “skin in the game”• Be proactive – plan• Manage your cashflow (Toys or Tools?)• Do your homework - research• Show market traction• Communicate• Utilize your resources, build the team• Stage your growth – milestones, credibility
10
Thank-you!• Let us know if we can
helpJudy Sander
NWO Innovation Centre
1294 Balmoral Street,
Suite 150
Thunder Bay, ON P7B 5Z5
807-768-6682
judy@nwoinnovation.ca
top related