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As a startup who has a new product to develop and sell, what is the best way to seek funding?

If a person or company has designed and created a new product (not tech) and needs to aquire... read more

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Jef LippiattCo-founder at Startup Chucktown
Suzie,I would suggest looking into crowdfunding websites such as Kickstarter, Indiegogo or others. They can be great places not only to gain funding for your product, but also to validate that you have correctly positioned your product and that the market is reacting favorably to a product that isn't even available yet.You will need to think hard about a launch strategy as well as what type of rewards you're willing to setup at the different tier levels, but all of that can set you up for a successful campaign. Also clearly explaining or demoing the product in a video can really increase the audience understanding and value proposition of the product.I would also recommend that if you are interested in pursuing this avenue, that you browse the different platforms to find out which one is bet suited to your product, as well as research some successfully funded campaigns and see what you can learn from them to apply to your own.
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Business finance and loans

5 Things You Must Do Before Applying for Finance

Given all the various finance options available and the complex matrix of requirements associated... read more

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Business finance and loans

SME Banking and Finance – Credit Card Checklist

If you're like many other small business owners, chances are you've used a credit card to help fund... read more

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Andrew Boyd Co-Founder at CreditCardCompare.com.au
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Craig GarblerManaging Director at Sterling Debt Advisory Pty Ltd
Andrew, thanks for the prompt. I will be following up very shortly. I needed this prompt - have been thinking abouth this exact thing for ages! Craig
Business finance and loans

What Happens When Things Go Wrong

When we start out in business, we have a vision which for most of us, resolves around a profitable... read more

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Ling LeeDirector at Japanese Sword Auctions Australia
Thanks for the article Andrew! Pretty scary to think what happens if my business fails but nonetheless always a good idea to know the different types of insolvency, especially when legal advice is so expensive and hard to get.
Questions

Does anyone know a company who provide extended warranties service?

Hi, The company I work for sells new white goods etc that come with factory warranties. However we... read more

Asked by:
Peter Jones Founder at LinkSmart
You need to be aware of your obligations under Australian Consumer Law relating to consumer guarantees. I suggest you visit the ACCC website about consumer guarantees and when extended guarantees are illegal. Under Australian Consumer Law there is already inbuilt consumer guarantees that relate to the product and repair guarantees without the need to purchase extended warranties. Choice has also undertaken some work in this area.
Yes I do, National Warranty Services has that service -- resellers too. Contact Don Card at nationalwarranties.com.au (The website looks straight out of 1996 but its a genuine business with offices in Redcliffe Qld).
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Questions

Where can I buy closeout, wholesale maternity dress? My dad is looking open up a small store.

Need reliable and honest source of wholesale, examples, closeouts of stylish maternity attire. Have... read more

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Nicole McIver at Nicole McIver
Contact Wholesale Baby they will be able to help you out :)
Jeffrey JoelMD at Auspac Trading NSW PL
Alibaba.com ?
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Business finance and loans

5 funding innovations for sme's

A time-sensitive business opportunity shouldn't be closed off because interim financing is not... read more

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Wendy HuangFull Time Blogger and YouTuber at A Custom Blog in 4 Minutes
Great summary :) I'm sure man here will find this article useful!
Business finance and loans

Is crowdfunding for you?

Crowdfunding seems to be the new buzz word when it comes to fundraising a new business idea or... read more

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Michelle Tupy Blog and Epublishing Manager at Clever Streak
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Michelle TupyBlog and Epublishing Manager at Clever Streak
I have both given and received through crowdfunding but can definitely understand that it might not be to everyone's liking. We successfully raised money for a hostel-type venture and received enough to get the venture off the ground. Likewise a friend of mine raised over 750,000 to create the latest in his adventure game series. And I know of a couple of people who have managed to successfully publish books through this type of fundraising method as well.
Wendy HuangFull Time Blogger and YouTuber at A Custom Blog in 4 Minutes
Pozible is a great startup in Melbourne :)!! I haven't tried crowdfunding but would love to hear people's experiences.
Business finance and loans

New credit laws will hurt sme’s

Incoming credit laws mean that every time you’re late in paying a bill, a black mark will... read more

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Sharon Latour Queen Bee/CMO at Marketing Bee
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Sharon LatourQueen Bee/CMO at Marketing Bee
Thanks Patrick - when I saw this it made me a bit sick when I thought of my clients and the risks they are taking to start their businesses. It's shameful.
Samson PatrickPrincipal at The Diligent Group - Small Business Specialists in Accounting, Taxation, Planning, Legal & Marketing
Well done Sharon for keeping this burning issue alive for the financial well being for SMEs. We all need to get behind protecting the financial integrity of SMEs & their owners who put everything on the line for their businesses, their families & employees.
Business finance and loans

5 Unusual IRA Investments Options

When investors think of an Individual Retirement Account, they often think only of the stocks,...read more

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Business finance and loans

How to Build Great Credit for Your Fledgling Startup

Business & Small Business Log In | Join Log In | Join Log In Join...read more

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Business finance and loans

Are banks lending to SME's?

A good deal has been written recently regarding the attitude to SME lending by the major banks.... read more

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Neil Steggall Partner at Wardour Capital Partners
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Questions

What is the best way to get software finance?

As a small and new business part of what I do requires a software product that I pay for at... read more

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Hi Shaun, I use ASM who offer awesome finance solutions for small businesses. No worries with software rental - as long as it is under $50,000 Scott McNally 0438 680 898 and mention my name. Greg Ferrett
Phil JoelDirector at SavvySME
Shaun, what I know is that many large software / hardware companies such as Microsoft, Oracle, Intel, etc can potentially offer financing to their customers if the solution includes their products. Your product appear to be very specialised so somebody like Flexirent is unlikely going finance it. I did find this other link which could be worth investigating: Relion Finance  
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Questions

How do you choose the best business loan for your business?

I was talking to a friend the other day; getting the right business finance is hard. With so many... read more

Asked by:
Phil Khor Founder at SavvySME
Hi Liam, If you are selling higher value items to clients you may want to consider offering your clients finance. One small business I know sells thongs (yes - shoes) to small retailers and offers 6 months interest free finance for their stock while getting paid the very next day and not wearing the risk of factoring (where you still own the debt after three months). This allows him to win a lot of new business and get stock on shelves without owning the finance risk. Try Scott McNally at ASM Money 0438 680 898 and use my name as an introduction or email me and I can send over more details Greg Ferrett  
Liam ShorteDirector, SMSF Specialist Advisor & Financial Planner at Verante Financial Planning & The SMSF Coach
Phil, it is important to use a bank that has experience in your sector as often loans products are adjusted to suit certain sectors like retail, trades, professional services. The problem with applying for a general business loan is that your business cash flow or seasonal changes in running costs may not fit a standard valuation or repayment model. You just take control and not act like you are willing to accept what is offered. So check the lender has experience in your industry and even ask for references.  Ask others in your industry what are the important features they have needed in a loan. don't be afraid to ask as most small business owners will be happy to discuss this issue. Make your own list of "must haves" and "negotiable" features. Talk to your accountant, advisor and lawyer before signing anything and don't be afraid to use a use a broker if you need support but again seek out someone who knows you industry.  
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Business finance and loans

How to use your Cashflow to obtain Finance

As a small business owner and operator there may be times when you are required to obtain finance.... read more

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Business finance and loans

The ABCs of your business credit profile

Each time you apply for credit, banks and financial institutions look at your business credit... read more

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SavvySME Official Official Account at SavvySME
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