Whether you are a brand new start up, an established business with ambitious growth plans, or if you are moving in a new direction, every business at some point in its life cycle, will need to secure business funding.
Richard Branson famously said, “I think that there’s a very thin dividing line between success and failure. And I think if you start a business without financial backing, you’re likely to go to the wrong side of that dividing line.” So, where is financial backing to be found?
Sources of business funding
Friends and family are perhaps the most obvious source, particularly for start up funding, but this is not without its challenges. Many entrepreneurs prefer to separate business from pleasure and look to external funding in the interest of maintaining harmonious family relationships.
Often, the best place to find funding is from people who invest in start-ups or growing businesses, who believe in you and believe in your idea whether they are angel investors, venture capitalist firms or a simple business bank loan. The only problem is, you have to be able to communicate your idea effectively in order to entice them to invest in your business. And for that, you need a clear proposition and an equally clear business plan, both of which require the ability to write in an inclusive, concise and convincing manner so that you can win hearts and minds in your next funding pitch.
Stand out to secure business funding
According to Fundsquire, there are 77 new businesses formed every hour in the UK. That’s a lot of competition fighting to secure business funding and as a result, a shocking 38% of businesses fail because they run out of money or cannot raise capital, according to data from CB Insights. The battle for funding is real, but you can arm yourself with the weapons you need to stand out in an overcrowded market. With a well-written, concise business plan in one hand and a memorable elevator pitch in the other, you can easily outshine the competition when approaching potential investors and secure the business funding you need.
Members of the BWA team visit schools regularly, to mentor students about work and life beyond the safety of school. Most of the young people we meet are keen to start their own business and we often share this quote from Richard Branson which delivers a key message: “Starting your own business isn’t just a job – it’s a way of life.” We are all entrepreneurs, believe it or not. No-one is ‘just an employee’. What we do, as individuals, is market and sell our time, skill and unique perspectives to our customers who are people and companies. And they pay us for that time, skill and perspective.
Being able to accurately communicate your personal worth or the worth of your business, is a key life skill and one that should never be underestimated. Thankfully, it is never too late to learn the skills required to write compelling copy, to translate and conceptualise your ideas into text that can be shared across multiple platforms and with multiple audiences. You can take your business to the next level by engaging with investors, customers and employees and sharing your vision, opening up your imagination and putting what’s in your head onto paper.
Communication is the key to securing business funding
Our online business writing courses are designed to elevate your writing skills and help you grow your business by unlocking the power of the written word. We cover everything from writing targeted sales emails to press releases, but if you’re interested in growing your business and securing business funding, then our module on writing a funding bid or business pitch is the one for you.
This practical module will equip you with the tools you need to communicate effectively and ensure investors understand the many virtues of your business and why it presents a fantastic opportunity to see a return on their investment. By the end of this module you will be able to confidently pitch your business to investors, customers and other stakeholders with inspiring written documentation that requires no explanation.
Unlock your potential, secure business funding and grow your business. Get started now.