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Funding

Funding Your Business

Many Baby Boomers transitioning into their golden years, have decided to turn their hobbies into a business and have become entrepreneurs, a solopreneur or started side hustles. Also, considering there are 12 million businesses that are still owned by baby boomers, the subject of funding a business is still on the top of mind for many in our generation.  In this area of the site, our experts talk about funding for the future.

Starting a business can be an exciting endeavor, but securing the necessary funding is often one of the biggest challenges for new and existing entrepreneurs. Bootstrapping is starting and growing your business using your own finances without external help. This approach forces you to rely on your savings or the revenue generated by the business itself. It can be a slower route to Growth, but it keeps you in full control of your venture. Angel investors are individuals who provide capital for startups, usually in exchange for convertible debt or ownership equity. They not only offer funds but can also bring valuable advice, mentorship, and industry connections. Venture capitalists (VCs) are professional groups that manage pooled funds from many investors to invest in startups and Small Businesses. VCs are looking for a high return on investment, and they usually offer significant mentoring and support, but in exchange for equity in your company. Crowdfunding in platforms like Kickstarter, Indiegogo, and GoFundMe allow you to raise funds by reaching out to a large number of people, typically via the internet. Crowdfunding can also be a great way to market the product and validate the idea before fully launching it. Navigating the complex landscape of business funding requires a strategic approach and a deep understanding of the various financing options available.

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