This month on Entrepreneur.com Tom Nawrocki writes about Creative Financing.
With so many experienced, capable people getting cut loose by corporate employers, there has never been a larger pool of potential entrepreneurs. But with the implosion of so many banks and the continuing credit crunch, there has also never been a tougher time to find financing for a startup. So those looking to launch a small business have to be creative when looking for funding.
Nawrocki outlines all the usual suspects – grants, micro-loans, local incubator/accelerator groups – but also singles out business plan competitions like New Ventures BC as a great funding source.
Keep in mind that often more important than the prize money is the opportunity to get your creative ideas in front of venture capitalists, angel investors and other potential financing sources.