It’s understandable that you have lots of things to think about when starting a business in Florida. From business licensing requirements to incorporating in Florida, it’s easy to overlook other important aspects to starting your business.
However finding the right financing for your business should not be one you must easily overlook. Financing a business in Florida takes time, effort, and much needed patience as it is a long process.
To help you get started on thinking about your options for financing, here are five awesome resources you can look into and consider.
Quick Note: Business funding almost always starts with an awesome business plan. Let’s be real, you’re trying to sell your business to prospective investors, so you have to have an effective marketing material. What could be a better marketing pitch than a business plan? Get started on writing a solid business plan with a planning software. With tons of video tutorials and plan templates, it is our favorite resource for writing a funding ready business plan.
Before you find the appropriate financing for your business needs, you need to take a look at this Startup Savant guide on how to finance a business in Florida.
This guide is a helpful resource because it shows you ten of the most common financing options available for startups like you. It presents each option in a way that will give you a clear picture what to expect from each, with added bonus of pros and cons that you can apply to your current business needs.
When you understand what’s discussed in this guide, you’ll be able to have a better grasp of what financing type is right for your business.
Small businesses greatly contribute to a state’s economy, and so startup entrepreneurs are highly encouraged to get their business started by providing them with assistance grants. There are several small business grants in Florida available that can be your way to starting immediately.
One excellent resource to help finance your small business is Enterprise Florida. Although it does not directly grant the funding you need, Enterprise Florida has an established vast network of partnerships with organizations who can give you access to capital you need to start a small business.
Startup incubators in Florida are also a great resource to find the necessary startup capital you need. Incubators are organizations run by private individuals whose main goal is to help startup entrepreneurs overcome the common problems when getting started. This includes the right financing for their business.
The Florida Business Incubation Association (FBIA) Incubators is one means to find a loan program that might just be right for you.
Angel investors in Florida also help you finance a business. Angel investors are private individuals who are willing to take risks in investing capital in startup businesses in exchange for a share of the business.
In addition, these angel investors also help startup entrepreneurs with other aspects of your business venture. These investors distinguish themselves from venture capitalists who are only on the lookout for gaining profit instead of genuinely helping a startup succeed.
If you want to know more about this option of financing your business, you can start with Florida Angel Nexus.
Crowdfunding to finance a business has been gaining popularity as it provides an innovative way to start your venture. In crowdfunding, a large number of people pitch in small amounts of money until your targeted capital is achieved.
While this is a completely voluntary effort on the crowd, some startup entrepreneurs prepare a small token of gratitude for the donation through various ways. To start with crowdfunding, Kickstarter is a great option.
Everything comes at the right time and so does funding a business in Florida is. It’s up to you to make the right choice when selecting the appropriate financing option because you know your business best and its needs. Don’t rush into a funding option if you feel that it is not the best for your business. Make a well informed and thought out decision.