The vast majority of people who decide to start a business do not fund the entire project out of pocket. There is much to afford in those initial years, which means that most will look to banks, private investors, or both, in order to cover the costs. Unfortunately, recent news has made it apparent that many small businesses will find it much more difficult to get bank funding in the near future.
The reports were based on research into the lending habits of banks in major cities throughout the US. It was discovered that the number of bank loans provided to small businesses dropped by 60 percent in just 7 years’ time. The story was covered in multiple publications, including this article posted by the Public News Service. The author went further, suggesting that the loans were particularly difficult to come by in the lower income areas.
Most businesses rely on funding like this in order to hire staff, to cover the costs of building up inventory, and to launch marketing campaigns intended to grow the company. The good news, though, is that banks are not the only providers of business loans. Private investors – angel investors — do exist and they are regularly seeking new money-making ventures. That is good news for the start-ups that are desperate for the capital the banks are unwilling to dole out.
There are many articles that are intended to give these businesses tips on finding and attracting investors, but the truth is that exposure will be the key. Whether working in the health & technology sectors, or focusing on a niche of animal lovers, exposure can be found at the ifestival. The invention convention aims to explore the best in innovation and invention. Here, investors walk amongst experienced business owners and brilliant minds. An invention conference can be the perfect place to discuss business ideas while discovering the newest idrone or the best in ivirtual reality.
With banks making it more and more difficult for startup to get the funding they need, an iseminar may be the best way for small businesses to network with potential investors.