Lala Ganshyam Dass & Sons is a business venture which started its business two
years ago. It has yet to gain reputation in the market but carries good payment
records. It has received a bulk order for which it requires raw materials. The firm
is facing shortage of funds to meet its working capital needs for two months.
Suggest how the fund problem can be solved.
Answers
Lala Ganshyamdas & Sons must follow the following Creative Fund raising ideas to gain reputation in the market.
• Keep an eye on campaigns by big brands.
• Win those start up competitions.
•Reach out for University funds - The University of Waterloo offers a velocity fund.It is more than $ 400,000 each year to local start ups.
•Negotiate an advance from a customer -Seling your products before they launch is an often overlooked and highly effective way to raise the money needed for financing your business.
• Get the office equipment financed.- This is called Vendor financing .
• Apply the pay to work policy-You can ask people to make donations in return for a position in your office.
•Barter your services for the office help.
•Crowd funding - Ask people to fund your business, .In exchange sign up customers at a discount or offers for early birds.