GET FUNDING FOR YOUR EVERYDAY BUSINESS Part 1: Introduction
A recent World Bank report ranked Singapore as the best country to do business in the world, for the 7th year in a row.
The report stated that while Singapore did well for most of the 10 regulatory areas measured, but there was one where Singapore scored an especially low average rating – getting credit.
Although it’s mostly good news for businesses. The challenge of getting funding still remains.
Whether you choose to raise capital from people you know, banks, or investors, many people find it difficult to ask others for money.
Asking around, everyone seems to think with the way the economy is going, the way the government is talking about slowdowns various industries will experience, that it will be tougher to approach banks for loans and investors will be more reluctant to put their money behind your business.
But is all this hearsay true? Is that really what banks and investors are thinking?
Michael Hutchison facilitated a roundtable discussion with venture capitalists and small business financing arms of some leading banks and found out some interesting facts.
The representative from the banks stated that they actually lent out more money from previous years to small businesses and entrepreneurs.
How to grow your business with other’s people money? Continuation in Part 2
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