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Business Bootstrapping Strategies for Growth

Explore innovative opportunities, financing options, and government programs to support your business growth. Learn how to leverage equity, angel investors, loans, and government supports effectively to finance your business expansion. Utilize bank financing wisely by preparing a solid proposal, understanding different financing types, and showcasing market traction. Adopt strategies like proactive planning, managing cash flow, research, and team building to achieve growth milestones. Contact us for assistance and guidance.

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Business Bootstrapping Strategies for Growth

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  1. Bootstrapping your Business March 23rd, 2011

  2. What we do • Support the growth of new and existing businesses with innovative opportunities • Facilitate connections • Innovator Member Program

  3. How do I finance growth? • Equity – your own investment • Leverage it • Love money – friends and family • Leverage it • Angel Investors • Leverage them • Loans • Government support programs

  4. Programs frequently accessed by business • Northern Ontario Heritage Fund (NOHFC) • Employer supports • Youth Interns (FedNor and NOHFC) • IRAP and OCE • Wage Subsidies • IRAP • Canadian Youth Business Foundation

  5. Government Sources • http://www.gfundsonline.com/index.php • http://www.ontario.ca/en/business_program/categories/ONT04_036384.html?category=&itemCount=200&sOrder=Desc • http://www.sse.gov.on.ca/medt/investinontario/en/Pages/Government_Programs.aspx

  6. Bank Financing • Know what you need • Short term vs. long term financing • Set objectives • Shop around • Not all banks are the same • Prepare • Fact vs. Fiction • Performance History

  7. Types of Bank Financing

  8. Show Me The Money • Bankers are methodical not intuitive • Use logic not emotion • Prepare a proposal • Company description, management team, performance history, marketing and production plan, human resources • Remember the 5 C’s of lending!!!!

  9. Strategies to use • Illustrate “skin in the game” • Be proactive – plan • Manage your cashflow (Toys or Tools?) • Do your homework - research • Show market traction • Communicate • Utilize your resources, build the team • Stage your growth – milestones, credibility

  10. Thank-you! • Let us know if we can help Judy Sander NWO Innovation Centre 1294 Balmoral Street, Suite 150 Thunder Bay, ON P7B 5Z5 807-768-6682 judy@nwoinnovation.ca

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