This reveals that COVID-19 moments of crisis are not only a challenge for entrepreneurs but also present new opportunities, as start-ups can help relieve the limits imposed by declining health or economic situations, as well as adjust to shifting preferences and demands.
The COVID-19 pandemic has presented an entrepreneurial ecosystem with unique issues. The Tie SoCal has teamed up with a variety of partners to assist entrepreneurs. We’re fighting the pandemic with entrepreneur-created solutions, hosting webinars to provide strategic mentorship to businesses, and assisting incubators in going virtual. In these uncertain times, this area provides information and resources to help businesses, incubators, investors, and mentors regain their foundation.
So, if you need to start a business in this pandemic, this article will show you what to look for.
Each year, we add the Investor Summit to our calendar of activities. It allows us to meet with current shareholders, communicate with new investors, and exhibit our pandemic latest advancements and successes to the broader investing community.
Working with a non-traditional lender also has the following advantages:
- Market Evaluation: The Company is allowed to “borrow” some of the strategic partner’s goodwill.
- Technical Assistance: The larger partner is likely to have marketing, IT, finance, and HR departments – all of which a start-up may “loan” or use at a discounted rate.
- Overall Business Advice: As part of the investment, the strategic partner is likely to join your board of directors. Remember that they’ve been in charge of a much larger and more successful company in your industry, so their insight and guidance will be invaluable.
A strategic partner still has their own firm to operate; therefore they are unlikely to be heavily involved in the start-up’s day-to-day operations. Check-ins on your business regularly, such as monthly or quarterly, are usually sufficient.
Financing from a partner
Another company in your industry funds your growth in consideration for exclusive access to your brand, personnel, distribution rights, eventual sale, or a combination of those things.
Partner finance is a great alternative because the company you partner with is likely to be a large corporation, and it may even be in the same industry as yours or have a stake in it.
A larger firm often has relevant users, salespeople, and marketing programming that you can tap into right away, assuming your product or service is a compatible fit with what they already offer, which is almost definitely the case otherwise they wouldn’t invest in you.
Merchant cash advances are available.
A merchant cash advance is the polar opposite of a small business loan in terms of affordability and structure. Cash advances are a quick way to get money, but they should only be utilized as a last resort due to their high cost. This service is offered by many of the main merchant services, so check with yours to see whether it’s something you should consider.
According to Funder’s lending and credit specialist, a merchant cash advance is when a financial company gives you a lump-sum loan and then buys the rights to a portion of your credit and debit card sales. The supplier receives a tiny portion of every credit or debit card transaction made by a merchant.”
TiE SoCal Investor Summit 2021 November 11, 2021- A “must-attend” event
If you are a start-up raising money or want to invest in a new business plan then the TiE SoCal Investor Summit 2021 is for you. This is one of the largest gatherings of venture capitalists, families, offices, angels and individual investors of Southern California.