Tips for Women to Access Business Funding
Business statistics show that its harder for women to get business funding than men. Despite the challenges women face,the good news is that more and companies today are trying to fund women owned and managed businesses. Below are some tips to help you find the funding your business needs.
Have a good story – You need to have a good story and be able to communicate it simply. When you’re looking for business funding, the people holding the checkbook need to hear your vision and know that you’re passionate about it.
Build a strong team – Investors will invest in your team. They need to believe that you can do it—that you and your team truly can achieve the goals that you claim to be able to reach. Show them that your team has the experience and the right dynamic to make it happen.
Find a business partner – A business partner or co-founder can be really effective at all stages of business growth. Being able to get different opinions can better position your business for success and funding.
Be organised –Make it easier for investors to assess your business’ performance by staying organized and using tools and data technology like Xero for accounting and Expensify for expenses.
Establish your business credit – Don’t use your personal credit for business because it artificially deflates your personal credit score and does nothing to help your business. Instead, start establishing your business credit by getting a business credit card and using it. You need to build your business’ credit to show that your business is a safe investment.