Finding funding for your small business

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Has your business reached the point where you need extra funding? It could be that you’re launching a new product, expanding your market overseas, taking on new staff members or buying more equipment. To get over the immediate hurdle and make that jump to the next level, you need to find some money. There are lots of different ways to fund your small business’s growth, including:

  • A loan from the bank, probably the most common type of funding
  • Angel investors
  • Peer-to-peer lending
  • Private equity investment or venture capital  
  • Grants from an organisation like your Regional Business Partner Network
  • Incubators and accelerators like those offered by Callaghan Innovation
  • A loan or gift from friends or family (common, but not recommended)
  • Crowdfunding
  • Shark Tank or Dragon’s Den – or New Zealand’s own Supersize SME (like the name)

All these options have different pros and cons, but they all have one thing in common: they want to know more about your business and that includes clear financial data. You might pitch them all slightly differently, but every one of these avenues will need the right set of financials targeted to help them see a path to a mutually successful loan, grant or investment. You need to set out a compelling business case and that will rely heavily on financial and sales data, plus research into your market.

Not only can your virtual CFO provide you with the right information to show a prospective lender how good you look, but we can also help you talk to various lenders and agencies to present your business in the best financial light. In addition, sometimes your virtual CFO will be able to find funding options for you. A great CFO will help to forge the connections you need to find the money for growth. (It’s also helpful to have someone on your side when seeking funding to avoid being caught out by one of New Zealand’s surprisingly prevalent grant scams.)

If your business is aiming to make that jump to the next level, you probably don’t want to take on a full-time CFO. But a virtual CFO can step in and help out with a regular financial check-in as well as case by case when you’re presenting your business to a prospective investor. If that sounds like it could be useful, give us a call and we can help. Let us shine a spotlight on your business success – and find the funding you need to take that leap.