Tips for Funding Your Company

One of the familiar top issues for start-ups is access to capital. Although local universities, governments and organizations continue to develop programs that support new business growth, the lack of available financing for local area start-up companies continues to be a challenge. There are several programs in the state of Florida working to address this for start-up technology companies. One of these programs is the Florida Angel Nexus.

The Tallahassee start-up community gained momentum in late June when Tallahassee’s new chapter of the Florida Angel Nexus attracted approximately 60 attendees to their membership launch. Tallahassee joined Orlando as the second chapter in the state. Innovosource published in their recent article that the ultimate goal of the nexus is to build a membership base of at least 40 angel investors that could generate $200,000-$500,000 in group investments. Angel investors typically invest smaller amounts of their personal money into higher-risk start-up businesses that struggle to secure financing from traditional lenders.

Matt Johnson, local nexus chapter founding member in Tallahassee, said that the new fund presence signals investors believe there are enough high quality opportunities to fund companies. Learn more about the Florida Angel Nexus.

Tips for Funding Your Company

One of the steps to eventually get funded is to know your numbers. This will likely be part of any due diligence. A basic accounting system that captures sales, expenses and amounts invested are critical to establishing credibility as a business. Addressing this now will assist with your readiness and may shorten the time to successful fundraising. For more helpful information, read our article, Funding for the Brand New (pre-revenue) Company, which provides 3 tips for funding your start-up company.

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