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Startup Money for Newcomers
Presented by Roger PierceNewcomerStartup.com
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You’re starting a business! 3 Million Canadian Entrepreneurs
Most respected occupation You’ll need some money:
Poor cash flow kills startups
Congratulations!
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Startup Budget:◦Capital (equipment, renovations, website, vehicles)
◦Operating (rent, wages, marketing, telephone, supplies) x 6 months
How much money?
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Write a Business Plan Know your number
◦(Startup Budget) Decide how you will repay
◦Loan?◦Investment?
Know your options Be prepared for rejection
Before you shop for money
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Your money!
Savings Part-time job(s) Loans, credit (be careful) Consult financial advisor
Money source # 1
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Family & Friends
Loan or investment? Don’t take too much
Money source # 2
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Financial Institutions
Need a Business Plan Personal Guarantee Invest some of your $ Shop around
Money source # 3
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Government Programs
Grants & Contributions (e.g. Book Fund)
Loan guarantees (CSBF Program) Wage subsidies Tax refunds and credits (SRED; 35%) www.canadabusiness.ca
Money source # 4
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Investors
Angel investors are other businesspeople
Venture capitalists are professional investors
Business plan, great pitch essential
Money source # 5
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Customers & Suppliers
• Get money early from customersDeposits, retainers, full payment
• Pay suppliers laterCredit account, generous terms,
inventory upfront
Money source # 6
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Good Paper makes Good Friends Shop around Research, referrals Combine sources of money Persevere
Tips
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Bootstrap Underestimate revenue, over-estimate expenses
Start slowly Start small
Need less money
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Startup Money for Newcomers
THANK YOU!Free advice at
NewcomerStartup.com