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START UP Funding Demystified

At the Dayton Metro Library's June Business Lunch ' n Learn event, Scott Koorndyk from The Entrepreneurs Center provided a high level overview of the process of raising capital for new and early stage businesses. I was somewhat surprised to learn that in the most recent surveys of startup entrepreneurs, the predominant source of funds in both DOLLARS and NUMBER OF DEALS continues to be 1) Owners' Personal Savings or Credit and 2) Loans and Gifts from Friends and Family. Most of Scott's presentation focused on two sources that get a lot of attention in the business press –Angel Investors and Venture Capitalists. The final two sources warrant further exploration.

With over 1,000,000 transactions reported in 2014, Crowd-Funding has captured the interest of entrepreneurs everywhere. Crowd Funding levers the power of the internet and the principle of many investors funding small parts of a required capital need and is the topic of the Dayton Metro Library's "Business Lunch and Learn" series at The Entrepreneurs Center on July 14 from 12-1:30 p.m. More information and registration is available here.

Watch this space for more information about funding resources from many different sources throughout the next few weeks.

Article submitted by Patricia A. Newcomb, MBA, CBA Ohio SBDC at The Entrepreneurs Center, 937-531-6615

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