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How To Raise Money For Starting A Business The task of raising money for a business is not as difficult as most people seem to think This is especially true when you have an idea that can make you and your backers rich Actually theres more money available for new business ventures than there are good business ideas A very important rule of the game to learn Any time you want to raise money your first move should be to put together a proper prospectus This prospectus should include a resume of your background your education training experience and any other personal qualities that might be counted as an asset to your potential success Its also a good idea to list the various loans youve had in the past what they were for and your history in paying them off Youll have to explain in detail how the money you want is going to be used If its for an existing business youll need a profit and loss record for at least the preceding six months and a plan showing how this additional money will produce greater profits If its a new business youll have to show your proposed business plan your marketing research and projected costs as well as anticipated income figures with a summary for each year over at least a three year period Itll be advantageous to you to base your cost estimates high and your income projections on minimal returns This will enable you to ride through those extreme ups and downs inherent in any beginning business You should also describe what makes your business unique---how it differs form your competition and the opportunities for expansion or secondary products This prospectus will have to state precisely what youre offering the investor in return for the use of his money Hell want to know the percentage of interest youre willing
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