18 September 2007

New Business? Find Venture Capital Here.

Have you seen those commercials that show the little business person being ignored by two big bad bankers? One of the bankers eventually places the little business person under a chair leg to keep it from rocking and says, "They are useful for something." This is basically the treatment most entrepreneurs receive from traditional funding sources. Most startups have to find their own sources of venture capital.

The business name should already have been registered in the state in which it does business, received an employer identification number (EIN) and have a formalized business structure, including tax year and accounting method. If you wish to incorporate, you should complete this step.

Next, you need a business plan that gives a general company description, products and services to be offered, marketing plan for products and services, operational plan, management and organization, financial statement, startup expenses and capitalization, financial plan and an executive summary.

The next step is to submit your business plan to venture capitalists. Submit Business Plan.com, sponsor of this post, is a Venture Capital submission service that has access to hundreds of funding sources, from venture capitalists that manage funds to angel investors who invest their own money in new businesses.

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