How to secure business funding?

chronocrypto 3 years ago

cwow2 3 years ago

No buddy!! I need answers!!! Haha xD

0.14 VYB

2 votes

belemo 3 years ago

Will bekeeping an eye on this. Starting a business is really scary man.

I've considered it many times but I always feel so scared. If I was ever going to start a business, I'll just raise the capital from my own activities. I might be old before then but better late than never lol

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4 votes

cwow2 3 years ago

Thanks! Appreciate the reblog aswell buddy!

If I had the money I would start. But we are talking about starting a NGO/Charity just like Unicef. That requires more money than I have now and will have in the near future x)

I am formulating a business plan and will go deeper into the amounts needed, but if I got 150k usd, I would be able to go fulltime for almost 2 years + have enough in funding for marketing!

Thats why I am curious!

I also have setup one meeting with someone from my union, to see what they can help with ^^

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belemo 3 years ago

Good luck with your plan. I hope it works out

cwow2 3 years ago

Thanks buddy. Its very early days! Still drafting the business plan ^^

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rob23 3 years ago

I've been reading about this. Though VC's are slowly becoming less popular, they are still a big deal for getting initial funding for projects. If you project won't be a for-profit you could look to partner with a non-profit/NGO in the same field and seek to make your own branch off that. DAO's are a relatively new form of funding, you could pitch your idea where you have a significant stake and see if the community wants to get behind you. Most successful businesses I know started with a loan of somekind from family, friends or unfortunately a bank... There are a bunch of options, so it can be overwhelming (I know it is for me) but I know that it will be worth it one day

cwow2 3 years ago

Its a NGO, a VC or a private investor would properly be the best options. Kinda what it to branch out like Unicef and get some of their market share even though I am in renewable energy.

DAO's maybe. The problem is the tax on crypto here and I don't know if they will let it go if its for a NGO x)

(Tax is 57% on personal crypto gains)

rob23 3 years ago

I don't know your tax situation with confidence, but you should absolutely look at the crypto side of donations because I have read that individuals/companies can save up to 30% on their taxes by simply donating to non-profits taking crypto, I have to assume from that the taxes aren't being taken on by the non-profits in that situation but are rather being forgiven in some way. Once again, not an expert, but you never know. If you are hitting a VC up, just go in with confidence and work on a nice pitch deck, a few of my friends that work in that field say that the pitch deck is the most important part because a lot of the research and initial work is being done by interns/new employees and the best way to catch an unseasoned eye is to make your work pop out on the pitchdeck. I hope you find the funding you are looking for, let us know what the project is as it progresses so we can check it out!

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cwow2 3 years ago

I have no idea about the tax on NGO aswell. Its just confusing here because the Politicians have no fking clue what they are talking about xD

We pay 24% in Dividends from Stocks, but 57% in Crypto? Like whaat?.

Crypto donations is already in my plan in "Phase 2", so I will 100% be doing that, just gotta figure how^^.

Thanks! I have a meeting with a person from my Union next friday. So hopefully she/he can shred some light on all of this or even reach out to some people ^^

Thanks :D

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ecency 3 years ago

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juanvegetarian 3 years ago

I have worked and volunteered in different NGOs and non-profits over the years and have some experience in fund raising for NGOs. About getting funding, it really depends on what kind of issues your NGO will be doing. Are you going to focus on environmental issues, poverty alleviation, or political empowerment? These things will matter when it comes to securing your funding. Where will be your target beneficiaries or focus areas? Who will benefit from the NGOs activities? Are you planning on fund-raising in a developed country then provide help/assistance/services in a third world nation? Or will services also be in the same location? I guess it's all about finding out what you want to do in the beginning, then finding out who are the donors who provide funding in this area of concern. Hope this helps. :)

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cwow2 3 years ago

Yes. Environmental issues/Renewable installations.

Where will be your target beneficiaries or focus areas

What does this mean?

Who will benefit from the NGOs activities

The World xD

Are you planning on fund-raising in a developed country then provide help/assistance/services in a third world nation? Or will services also be in the same location?

Well, I will start in my own Locations and expand over time :)

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juanvegetarian 3 years ago

What does this mean?

Example: I was thinking of maybe micro-loans for married women located in densely populated urban populations.

I guess you already have some of the things figured out. For starters, I suggest that you write down a short concept paper of what your NGO will be. Maybe similar to an elevator pitch but with more details included and focusing more on the big picture, vision-misssion stuff. Good luck! :)

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