2 Kick-Ass Ways To Getting Your Business Funded Like A Ninja!

Ninjas are very careful, detailed and sneaky.

Everything that a ninja does is pre-planned and geared towards accomplishing the target goal.

In this case, as a small business owner your target goal is getting your business funded.

Can you be a ninja and get your small business funded?

2 Kick-Ass Ways To Getting Your Business Funded

Before we get into this sneaky tactic to getting your business funded, be sure to understand that there are multiple sources of funding available. You have to know which funding source you are targeting in order to effectively obtain funding for your business.

We will focus on the one source that seems to benefit small businesses in Canada the most – government funding.

As you may know, the Canadian government every year hands out billions of dollars to startup and expanding businesses. The funding passed out helps these businesses grow and expand through various methods of funding such as government grants, government loans, tax rebates or credits and other financial support.

To learn more about what is available by the Canadian government, take a look at the Funding Database offered.

Now back to getting your business funded.

The first kick ass funding method is to apply to funding programs from multiple funding agencies.

Sure you may need $50,000 in total funding to get your business off the ground and to cover all expenses you need in order to succeed, but many funding agencies in the Canadian government may have an issue giving away $50,000 of funding. In fact, a lot of these funding agencies when deciding to fund a small business prefer to give more businesses $5,000, then just one business $50,000.

That’s just one thing to consider.

There are many funding agencies that will provide funding just for hiring staff, or for training, for purchasing equipment and for advertising. That means if you need to cover your expenses or need funding in any of those (or more) areas, it is better to go directly to those funding programs that focus in that funding avenue.

The $50,000 you may need may be needed for the exact reasons mentioned above and more, but when applying to the government to have your business funded, it is better to simplify it and ask for less. This way the results are clear to the funding agency, and they aren’t left feeling like they are giving up too much or “risking” too much by investing in you.

Again, the ninja in you needs to be strategic and think about the best chances you have in breaking the funding requests up into smaller pieces.

The second kick ass funding method is to apply for less then you need now!

What exactly does that mean you ask?

Well if you want to be successful in your funding approach, it is a lesson that many business owners learn the hard way when they hear “no” to their funding request.

Let’s take into consideration the above example and let’s say you need to get $50,000 in funding to cover your hiring, training, equipment purchasing, renovations and advertising costs.

Think long and hard, and take into consideration the first kick ass method of getting your business funded from above.

Ask your self these questions.

Do you really need the $50,000?

What if you were to only get half that?

Would you be able to go on?

This is the second funding method coming into effect. If you really need the $50,000 to go on, do you need it all at once? Maybe you just need to cover one or two of the reasons for funding in order to keep your business moving? Maybe you can continue to apply later on to get other things taken care of?

It is often recommended to apply to as much as possible in order to increase your chances of funding, however to be like a ninja and get your business funded be sure to focus on the most important and primary goal for your small business now.

Always come back later and get more.

Now get into the ninja mode and check our Funding Database to find programs you may be able to apply to.