Four Keys to Obtaining Business Funding in a Recession
Posted By Frank Goley, Business Consultant On July 26, 2010 @ 12:05 pm In Business Finance | No Comments
If you are seeking funding in this recessionary market, then there are 4 Key Areas to pay attention to:
#1 – Business Track Record
Showing how you have run a successful business in the past or had an influential hand in running a successful business is critically important.
#2 – Experience
Detail how you have specific experience for the type of business, customer and market.
#3 – Niche Market Identification
Funders want to know you have narrowed down your customers into a profitable Market Niche [1] which you serve well.
# 4 – Cash Flow
A Cash Flowing [2] business is a much easier sell to a funder.
The KISS acronym applies. Keep it Simple. Apply these four key areas to your business and your funding search will certainly improve. Make sure you have a solid Loan Package [3] and Business Plan [4] to present to funders. Good luck!
For more information, please see my articles on Business Finance [5].
Video Resource: The Importance of Cash Flow for Bank Finance
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URL to article: http://abcbusinesssuccessblog.businessconsultingabc.com/2010/07/26/four-keys-to-obtaining-business-funding-in-a-recession/
URLs in this post:
[1] Market Niche: http://www.businessconsultingabc.com/Small_Business_Marketing_Strategy.html
[2] Cash Flowing: http://www.businessconsultingabc.com/Cash_Flow_Management_and_Strategy_for_Small_Businesses.html
[3] Loan Package: http://www.businessconsultingabc.com/How_to_Prepare_a_Loan_Package.html
[4] Business Plan: http://www.businessconsultingabc.com/Writing_An_Effective_Business_Plan.html
[5] Business Finance: http://www.businessconsultingabc.com/Business_Finance_Articles.html
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