Some investment
Discussion
Been evident for a while that our self-financed approach isn't ideal. We need cash to run advertising (pretty confident that it will make good money, based on info from similar businesses).
Ideally we'd either exchange some equity for a cash injection - possibly buying out one director; or perhaps running a joint venture to do it.
Any suggestions on who to call or approach? How approachable are the 'venture capital' companies.. and how long does it take to get something in place?
Ideally we'd either exchange some equity for a cash injection - possibly buying out one director; or perhaps running a joint venture to do it.
Any suggestions on who to call or approach? How approachable are the 'venture capital' companies.. and how long does it take to get something in place?
I went through this a couple of months ago and the primary advise from every one was if you can do it yourself the that is the best way. VC and Business Angels may want to get involved more than you are prepared to give up.
Firstly if you have had a good through put on you business account, try your bank. I only need working capital and cash flow stuff so a large overdraft who have done.
For some reason they only look at what you have paid in, not out, and after 12 months of having the account and 10 months of trading I have a £10K overdraft limit and they asked for very litle security on it. (ie not the house!)
I have sold my VX as well so between them I should be ok.
Chris
Firstly if you have had a good through put on you business account, try your bank. I only need working capital and cash flow stuff so a large overdraft who have done.
For some reason they only look at what you have paid in, not out, and after 12 months of having the account and 10 months of trading I have a £10K overdraft limit and they asked for very litle security on it. (ie not the house!)
I have sold my VX as well so between them I should be ok.
Chris
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