Clearly, the economy affects a large percentage of new and existing businesses. I have high hopes for initiatives planned by the new administration, yet I also believe, as do many investment bankers with whom we speak, the economy has not bottomed out in key areas such as unemployment or the crisis of our financial institutions.
Notwithstanding, there are still a myriad of opportunities to fund business plans nationwide. Many local and regional banks have tightened up on SBA loans, but the SBA program remains an option throughout the US for viable business plans. Angel investors, private placement and venture capital remain available. In this environment, all these sources have more business plans to choose from as other banking options lessen for entrepreneurs.
Therefore, a concise yet detailed business plan, including a strategic marketing plan, competitive and market analyses and truly detailed forecasts, is essential to obtaining funding. As our web site suggests (http://www.thebusinessplanconsultants.net), plans must be custom to the industry and goals of your company.
Ask for a free consultation at tim@thebusinessplanconsultants.com on funding options that suit your plan and business.
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