Michael Newman’s latest ‘e-Wealth Daily’ article is titled “Six Methods for Securing the Cash You Need”. [‘e-Wealth Daily’ Article]


Michael Newman’s latest ‘e-Wealth Daily’ article:

Six Methods for Securing the Cash You Need

If you currently own your own business or are one of many new entrepreneurs getting ready to get your first business off the ground, you’ve likely noticed that the traditional means of securing the funding you need have almost disappeared.

Here, I’ve identified six proven methods for securing cash that are quite unique. They are being used by new and experienced entrepreneurs to ensure their projects start up and survive this economic storm. It’s time to get creative!

1. Grants

With the economic stimulus plan in full-swing, there has almost never been a better time to apply for and secure a government grant. Various levels of government have made investing in new and existing small businesses the cornerstone of improving our economy. Furthermore, there is money available in areas where it may not have previously been — or at least not to the extent it is now. New technologies, alternative energy and “green” initiatives are a new focal area of spending that is giving birth to a number of new businesses headed by entrepreneurs.

There are new government grants and funding opportunities being introduced almost daily, so it’s important to do your best to stay on top of new developments. Visit www.grants.gov to stay current, and visit your local municipality’s web sites for available opportunities.

Applying for a grant is relatively easy, but there are a few important points you should be aware of. For starters, you should make sure that your business meets all the specifications outlined by the specific grant. If it doesn’t, you likely won’t secure it. Also, you’ll likely need to supply a business a plan and fill out some required paperwork. This can take some time, but it could be well worth it in the end!

2. Competing for a Prize

Another way that has proven to get entrepreneurs the money they need is through entering various competitions. These competitions usually involve enrolling, then presenting to a collection of venture capitalists or angel investors in hopes of securing some funding.

Oftentimes, these competitions are held by the business schools at various universities and offer a cash reward for the winning business plan and concept.

In Canada and the United States, there are actually television shows that feature entrepreneurs competing for investment money from some of the continent’s richest and most prominent business minds. They are called “Dragons’ Den” and “Shark Tank”. You can learn more about them by visiting www.cbc.ca/dragonsden and abc.go.com/shows/shark-tank.

Finally, although it’s not a competition in the most literal sense of the word, there is an opportunity in Nevada that allows entrepreneurs to raise $1.0 million by selling stock directly to residents. It is different from other states, because business owners are allowed to present directly to potential investors and sell the stock without any middlemen. Each share is worth $1.00 and can only be purchased by Nevada residents. For more information about the Nevada State Registered Offering program, visit: http://sos.state.nv.us/securities/registration/scor.asp.

Tomorrow, I’ll reveal the next four creative cash methods.

e-Wealth Daily

About e-Wealth Daily

The e-Wealth Daily Bulletin brings you daily tips, advice and breaking news related to home businesses, small businesses and internet marketing. Our team of experts gives you the information you need to take your business pursuits to the most profitable level. Founded by Adrian Newman in 2003, the e-Wealth Daily Bulletin and www.ewealthdaily.com are a division of Lombardi Publishing with online newsletters reaching over 100,000 subscribers each month.

* IMNewsWatch would like to thank e-Wealth Daily for granting permission to reprint this article.

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