An extract from my second book, Power Climb: Growing Your Small Business which was published in 2012.
I have talked about how in many cases time can be exchanged for money in order to grow a business. This is particularly relevant with the restricted access to funding many people are experiencing, leaving them with limited options.
There are interesting financing alternatives developing though, indeed some initiatives that were sent to other countries are actually coming back to be used here.
Particularly in the current climate, now is an ideal time to invest in the future and for growth whilst your competitors are downsizing and restricting their marketing efforts.
There are usually limits as to how much an entrepreneur can invest in their own business, so when that point is reached something that may be of interest is crowd funding.
Crowd funding is simply the process of bringing together private investors to invest amounts in growing businesses. Similar to the Dragons TV show, but with normal investors rather than multi-millionaires.
There can also be the incentives of bonuses for investors as well. By spreading the investment through many investors it makes it easy for people to choose which pitches to support.