There are a lot of people in Ontario that have some wonderful business ideas, but no money to go with it. That’s what makes TV. Shows like Dragon’s Den so popular. Not only is there no shortage of people waiting to sell the Dragons on their great business venture, but there are tons of “hope to be business owners” watching it.
For those really wanting to put their business idea into action, the Dragon’s Den can be like a double edged sword. When a viewer sees a business idea being readily accepted it gives them hope. When they see entrepreneurs being torn apart it can create a real sense of insecurity for those watching.
Don’t forget that shows like this survive on their viewer’s rating. So the more action it shows the more watch it whether good or bad.
If you are one of these individuals who are looking for seed money to start your business then get busy and look at all the potential resources.
Let’s look at angel investors:
They are also called business angel or angel funder. These are individuals or groups that have enough money to invest in new business start-up. They usually do this in exchange for a portion of ownership equity in the new business, or convertible debt.
Quite often these will be friends or family that really believe in you and your proposed business. Or it could be another business within your industry that sees its worth. Chances are you may not know of any angel investors, but not to worry because there are many agencies around that know where these money providers are.
One thing for sure is if you are thinking of seeking out an angel investor you want one that is legit and credible.
Now you can start with nao-ontario. (Network-angel organizations (Ontario). This is a good starting point to learn about angel investing and whether you would even qualify.
There are some quizzes that you can take here to see if you are at this stage. If you aren’t then all is not lost. You can look at some seed stage financing through Gust. Here you need to enter your province, and you can search for investors that are not only angel investors, but venture capitalists or incubators & accelerators.
Most often you will find that the angel investors are more interested in businesses that are started but need help getting off the ground or progressing. That doesn’t mean that you who as yet only have a business idea have no opportunity.
You need to be motivated and aggressive at getting that business idea onto paper, then into a formal business plan. From here you have to dedicate yourself to ways that you can potentially raise some capital to get yourself to the level where an angel investor is going to look at you.
If you sit back with the I wish type of attitude then there are plenty that are ready to step ahead of you. The Canadian government is intent on promoting new business and if they have to appeal to outside of the country to do it, they have no problem doing it. Just take a look at the start-up visa offering.