Growth accelerator for startups & scaleups
If you need money from investors or the bank, then you need a solid business plan to convince the investor(s) to invest their money in your company. They want to ensure their money is well spent and will be profitable in the future.
If you don't have the money to let your business grow then you have three options:
1. Get a loan from the bank
2. Find investors that want to invest in your company
A loan from the bank may the easiest way to go. You know how to get in contact with the bank and if you have a solid business plan with predictable profits the bank it's likely the bank provides you with a loan. If your business is more adventurous or innovative you may encounter that the bank is not willing to give a loan. The main reasons are
1. the risk appetite of the bank and you do not match and
2. the bank lacks the knowledge to see the potential of your proposal
3. the bank is not able to compare your company with other companies (benchmarking)
Therefore you need to take another route and find one or more investors.
A suitable investor may not be easy to find. First ask yourself what you require from the investor. Only money, or also expertise to assist you in letting your company grow? Do you need someone who challenges you? Do you need an investor who has knowledge of the areas your are in? An investor needs to support and challenge you. If it doesn't feel this way, it's probably not the right investor for your company.
Here you find more information about finding an investor.