Bandwidth Barn News & Discussion Board

Over the next couple of days I’ll be sharing this article with you on the blog. Written by Andrew Honey and published in the September edition of Entrepreneur Magazine, it makes for an interesting read. Thanks to Nicole Lombard, Publishing Editor of Entrepreneur Magazine, for allowing us to share this with you.

The Secrets to Raising Money to Start and Grow Your Business

By Andrew Honey, publisher of Entrepreneur Magazine

Raising cash for your start-up or established business is often a long and arduous journey. Some have succeeded. Many have failed. Having had first-hand experience at this, I know what it takes – planning, discipline and tons of resilience.

The setting for this article begins with one of the most frequently asked questions in business, “How do I raise money?” I am sure many entrepreneurs have not started what was possibly a great business simply because they could not raise money and believed they had to when in reality there were a number of alternatives as outlined in this article.

Furthermore, many businesses that failed could have been operating today, delivering good, sustainable profits if they’d followed the advice and ideas as outlined [below]. The critical success factors we look at for raising money are applicable to all types of funding requirements: start-up, expansion, franchising, BEE & cash flow. There is no simple answer to raising money. However, by following the four-step formula as outlined [below], as well as heeding the advice in the tables and the real-life case studies, the likelihood of success will be greatly increased.

Source: Entrepreneur Magazine – http://www.entrepreneurmag.co.za/