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Posts Tagged ‘bootstrapping’

Synergy Kitchen, a Resource for Local Food Entrepreneurs

10/28/2013 Comments off

If you are the proud owner of a food based small business, Synergy Kitchen, Dayton’s non-profit food business incubator, is here to help! Food entrepreneurs and established food businesses are encouraged to utilize this local resource, which includes a 10,000 square foot state-of-the-art certified commercial kitchen, packaging facility and various support services, to help grow their businesses. Synergy Kitchen can accommodate up to 20 different food service owners, all working at the same time, and is open 24 hours, 7 days a week. The packaging facility features hand assembled packaging rather than machine, creating jobs in downtown Dayton.

Please check out www.synergyincubators.com for more information.

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Crowd Funding Resources

02/01/2013 Comments off

Here at the SBDC at Wright State University, we field questions on funding small businesses every day.  Included in those discussions, is a regular topic, crowd funding.  While the details are still being ironed out from the JOBS Act legislation and the SEC is figuring out how to regulate this new opportunity, there are still a few options for you to try in the crowdfunding arena. (View a video on crowdfunding from IndiGoGo)

Kickstarter

IndieGoGo

SmallKnot

RocketHub

Fundable

CrowdTilt

There are many others out there with new ones coming online daily.  Some are specialized to a particular industry or cause so, do your research and see which platform fits your business plan.  Don’t have a business plan?  Come see us at the SBDC office!

Here is a story from Mashable on other unique crowd funding websites.

Immpreneur – Financing through Friends & Family

01/25/2013 Comments off

The most difficult task for any small start-up business is capital.  The first place many entrepreneurs go to for capital are their friends and family.  This is the easiest first step many small business owners try, but this first step deserves caution.  Here are a few tips to borrowing from friends and family.

– Get the agreement in writing

: Just like you would with any other investor, be sure to write down the loan agreement between you and family.  Another important aspect to consider before agreeing to the loan is their involvement with your business.  Many people want a say in the operations of a business they have invested in, this is no different with family investors.

– Selling a stake in your business is not unusual

– Angel investors are always a good option if friends/family becomes too difficult or not enough

: Angel investors are wealthy businessmen who fund young start-up businesses.  Angel investors often meet in groups to hear entrepreneurs pitch their business ideas.  To find a group in your area, asking the local Chamber of Commerce can be a great start, or search to www.finance.com .

For the full article, go to http://www.immpreneur.com/stories/friends-and-family-financing/

For more information from Immpreneur, go to www.immpreneur.com

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