Photo Credit Brock Wegner
1. Set the business off ground
The first and most pivotal use of funds is to get the business off the ground. Funding can help an employee become an entrepreneur by giving them the necessary monetary support to at least run a hypothesis on an idea and convert it into a concept. One of our tools at 1st Capital Wealth Management Group is that we work with entrepreneurs and help them draft their vision into a funding-friendly business idea. We also help guide them through the pitch and funding round discussions to prepare them for what’s to come.
Importance of funding for startups