Raising Capital for Your Business Elk River MN

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Charter Business
(763) 241-4152
12463 Ridgewood Drive Northwest
Elk River, MN
Services
Management Consultants, Computer Hardware and Supplies, Computer Software, Internet Service Providers

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Mashek Consulting Group
(763) 434-5512
16329 Kenyon St NE
Ham Lake, MN

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CFO Advisors
(763) 425-2020
P.O. Box 1922
Maple Grove, MN
 
Bergesch Computer Service Inc
(320) 274-3279
25 Chestnut Street West
Annandale, MN
Services
Payroll and Payroll Tax Preparation Services, Management Consultants, Accounting Auditing and Bookkeeping Services, Bookkeeping Services, Help Desk Services

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AdviCoach
(612) 367-4076
210 North Second Street
Minneapolis, MN
 
Profiler Consulting
(763) 497-7308
4410 Maciver Ave NE
Saint Michael, MN

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Leader's Theatre
(763) 432-6888
5080 Everest Ln. N
Plymouth, MN
 
Charter Business
(763) 241-4152
12463 Ridgewood Drive Northwest
Elk River, MN
Services
Management Consultants, Computer Hardware and Supplies, Computer Software, Internet Service Providers

Data Provided by:
Enleiten
(612) 235-6677
2751 Hennepin Ave S., Ste. 34
Minneapolis, MN
 
YMR Management Solutions
(952) 401-8870
450 Lakeview Ave.
Minneapolis, MN
 
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Raising Capital for Your Business

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Important Considerations in the Early Stages of Business Life
By Chris E. Talis

When starting a business in this most challenging environment, it is important that you use your resources as efficiently as possible. This will allow you to get through the difficult early stages of business life. It is best to try to do as much as you can on your own to raise capital, but also be wise with respect to seeking direction when it counts most.

The following are important considerations for businesses trying to raise capital in the early stages of business life:

Be creative in finding capital to fund your business.
It is important for you as a business owner to be creative when it comes to raising capital in this tightening financial environment. Is it equity capital you truly need or is debt financing available to you potentially? Can the resources of family and friends be sought? Can you use credit cards for short term needs? All these options must be considered in order to preserve valuable equity. Can government programs help? It is important to investigate Small Business Administration and Economic Development Authority offerings.
Maintaining a good credit is also vital, not only for you as a principal personally but at the business level as well. Does the business have assets that can be used as collateral (examples: accounts receivable, real estate, tangible assets, etc.)? Can you borrow using personal assets as collateral? All avenues of potential capital must be investigated in order to retain equity during times when equity is most vulnerable...during a period of economic slowdown.

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Meet with a banker/investment banker. Seek what programs are available for small businesses. Open appropriate bank accounts (bring formation papers, your tax ID#, and photo ID). Ask what you should do for now to establish credit for your business even if they will only offer your company a small credit card line. Your business’s credit, though different than your own, does depend upon your personal credit as well. This is the first step in establishing a credit history for your company for future borrowing.

Consider the use of a venture capitalist. Venture capitalists (VCs) tend to invest in an industry that they have had experience in. Typically, they have had success in their industry at one time or another and their company was either strategically sold, or went public. This experience has given them tremendous insight and is something they will look to leverage when investing in an opportunity.
Get an understanding of the VCs recent investments and ask to speak to the management of those companies. When you have identified potential venture capital firms, request the details of recent transactions they have been involved in. Ask to speak to principals in the firms they have invested in. See how the experience is evolving and if the principals are pleased with how the relationship is proceeding. Inquire about issues that may have ari...

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