Work Group

Taking the world of finance and making it stable, futuristic and powerful for the ones who are going to experience it.

Financial Planning

Setting the tone for finance and ensuring that it lies within well-planned points and matters.

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Building a formidable strategy that lies with the ones who need to find success in their life.

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Providing help beyond boundaries and ensuring that everyone gets what they need in terms of finance.

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“I’ve learnt a lot about managing finances from their set of resources, and I continue to value those moments.”

David T. Medina

“Understanding the world of finance was so easy, and Workgroup is the main reason why that was possible.”

Teresa T. Burnette

“Thanks to Workgroup, my life has changed drastically, and finance drives a major part of that change.”

Tommy M. Prather

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Latest Form Our Blog

Crowdfunding

How to Use Crowdfunding for Small Business

Crowdfunding is one of the best ways to make sure that your business has the right funds to keep working smooth. This is one of the several options which works well for you as you can get your friends and family involved. Try to make sure that you have the right help, which will allow you to get the right amount to invest in your business if you are looking to understand crowdfunding better.

Crowdfunding is nothing but a simple idea that people are willing to support with small contributions. There are a lot of people who are willing to buy and raise money that you need to keep on working on a project or a product. Crowdfunding is one of the best ways small businesses to get the right funding allowing them to expand. Crowdfunding is one which allows you to get the right kind of projects, campaigns and products. The internet is a place which allows you to connect with people who would be interested in your project or product. Some common ways crowdfunding can help is by acquiring new equipment, hire employees, purchase real estate, launch a new product, etc.

Finding the right people

e right people

There are a lot of people in the market who are willing to put their money on your idea. But, it is your responsibility to find and target the right demographic. Millennials tend to back crowdfunding projects, and it is you who need to make sure that you have the right backing, which will get you the right funds. You need to still have a pitch which will work simply by having a digital platform to showcase and gear towards a larger audience.

With crowd funding, essentially everyone becomes a direct lender, offering up their own money for an individual in need of a loan. There is also a reduced risk with crowd funding, especially for the individual that is putting their own money into the pot. For example if a direct lender had to borrow an individual £10,000 the lender will be more reluctant to issue the loan due to the size of it. Compare this to just an individual wanting to borrow a £50 loan from direct lenders, they will be more willing to put their own money into the pot due to how small the loan is. With crowd funding, if the individual is trying to take out a £10,000 loan, this is likely to be split between 100 individuals each offering £100 in order to reduce the risk.

Consider your rewards

One needs to value the exchange for the support that they are getting. Crowdfunding can work for two reasons, and one is because it offers a lot of new opportunities which allows them to be a part of something cutting edge. You can also get one for themselves. There are many backers which one is interested in on the return of investments.

How to successfully crowdfund

successfully crowdfund

There are four basic forms of crowdfunding which allows one to attract the right donors with the right rules that can benefit any small business.

Reward-based: This is a type of crowdfunding which offers a lot of backers. This is where if the donors are backing a prototype, they can donate a certain level which they can access when the product itself is released.

Equity-based: This is one which offers equity stakes in your business which has the potential to rival the venture capital. It is important that you understand the rules before going ahead.

Lending based: This is one way to have secured loans which can be offered at lower rates and more flexibility in the terms. Investors are a form of crowdfunding which seeks for equity that they can invest in.

Donation-based: If your organisation is a non-profit, you need to crown fund to raise donations. This is one where you need to raise funds for homeless shelters.

 

Angel Investors

How to Find Angel Investors for Your Business

If you are looking to get some capital for your small business, an angel investor is one of the ideal sources for your capital. An angel investor is one of the best ways to get the right investment for a specific project and allows you to get the right help when need. A good connection with an angel investor is one which will allow you to keep the right profile. Angel investors are generally looking for the right growth and export potential. They understand that they might take the right risks, but the investment will pay off. Here are some ways you can find the right angel investor for your business.

Look close to home

There are many angel investors who are looking to play an active role in the business, but there are some who do not want to. It is important that you identify the right investor close by your home. An angel investor is one who can help provide some insights that can help drive the principles allowing you to take advanced steps.

Network

There are times where you need an angel investor to network. Try to make sure that you have found the right street, which will allow you to find the right investor. Try to make sure that you are immersing yourself in the local business and social community. Try to focus on the business, which will allow you to focus and attend regular meetings. You can attend trade fairs and events which will give out your name and allow you to meet new people.

 

Angel investors are a group

It is important that you realise that an angel investor does not invest entirely on their own. They are a part of an informal network that will allow you to pool their resources and share the risks. There are many active investors in your community, and it is important that you understand their ways and get the right help.

Use the connection services

One of the easiest ways to hook up with the angel investor is through websites which provides the entrepreneur with the right matching. You will be able to get the right proposals allowing you to have a wider audience. Angel Capital Association, Gust, Carrefour Capital Connexion, The BC Angel Forum, etc

connection services

It is all worth it in the end

Finding an angel investor is not an easy task as there is a lot of efforts that will repay as they find the right angel investor. They not only provide you with the right capital but also invest for your business needs. They also provide you with advice that can help you shape the future of your company’s success.

 

From a Bank

7 Steps To Take When Getting a Business Loan From a Bank

Capital is one of the basic things that any business must have to smoothly run its operations. Many of us have excellent ideas thata can lead to the creation of new business industries. However, the only problem is lack of capital. The most common option is through a loan given by banks. Today, getting a loan is not as easy as it was before. It is, therefore, crucial for you to know the necessary steps for getting a business loan from a bank so you can improve your chance of getting approval. Here are seven steps to consider when applying for a business loan from the bank.

  1. Have a proper business plan– To get a loan, many banks need you to have a strong financial and business plan. It gives an introduction about what your business is all about. A business plan should state the business’ mission, goals, and how it will be run to achieve all the objectives stated.

business plan

  1. State how you will spend your finances– Banks tend to assess how the loan applicant intends to spend the funds borrowed. Stating what you will use the loan for makes it easy for the bank to know whether the amount applied for will meet all your needs.
  2. State the precise amount of money – When applying for a loan, it is good to do thorough research for you not to underestimate or overestimate the amount of money you require. This is because underestimating often leads to problems in the future. While overestimating makes the bank question whether thorough research was done before writing the business plan.
  3. Be keen on your credit score– All banks have to verify whether an applicant is eligible for a loan. When applying for financial help, it is vital to check your personal credit score and reports. If your score is low, raise it before applying for any bank loan. No direct lender provides no credit check loans as a credit check has to be carried out in order for them to assess your affordability. It is also a legal obligation for the lender to check your credit report.
  4. Clean your credit report– Sometimes there might be errors in your credit report, and if you are not attentive, it can negatively affect your overall credit score. Therefore, it is always advisable to monitor your business credit and personal credit files regularly.

credit report

  1. Assess all your lending options– After checking your credit report and ensuring that it is okay, it is time to research and come up with a list of banks that are viable to extend the type of loan you require. Choose the bank that offers loans at low-interest rates and offers the most flexible approval guidelines.
  2. Keep proper financial records– Getting a business loan from a bank becomes easier when you have precise financial records. Banks always want to check your balance sheet, cash flow statements and income statements to ascertain whether you can repay the loan or not.

 

Financing sources

Start-up financing sources for your business

If you are trying to finance your business, you need to make sure that you have the right financial investments to help give the right support during the downtimes. There is also a probability to help improve the chances of getting the right financing to meet your specific needs. No matter you can opt for the bank loan, angel investors and the government grants which allow for the right ways to help sources of financial advantages and disadvantages and evaluate your business.

Personal Investment

When you are starting your business, you need to make sure that you have the right investment, which can give you a collateral asset. There are bankers that you can long term commitment which can get you ready to take the risk.

Personal Investment

Love the money

You can get the investment can get the right money loaned by a spouse, parents, family, of friends. The investors and bankers that can be considered as patient capital which will allow you to get the things repaid after you business profits that can increase.

Venture Capital

This is one thing which is for entrepreneurs who start right from the start, which can be aware of the venture capitalists that can be technology-driven to help the business and the company. This allows you to experience high growth potential in areas like Information technology, communication and bio-tech. The venture capitalist can take an equity position in the company, which allows for promising or high-risk projects. This gives you some ownership with the right equity as an external party. Venture capitalists that can allow you to generate a lot of business allowing you to sell your share to the public.

Angel Investors

 
Angel Investors are some wealthy individuals who will allow you to get the right investment which is small firms by others. They are often leaders who can get their own field who can allow you to get the right way to contribute to the experience and network of contacts which can allow for technical management knowledge. Angels tend to keep a low profile and help build the right capacity for Canadian angel investors.

Business incubators

There are many business incubators which generally focuses on the high-tech sector which provides for the right support. There is also a lot of local economic development incubators which got focused on areas to help create a job, revitalise, hosting and sharing services. These incubators will invite the right future, allowing them to share the premises of the company. There are administrative, logistical and technical resources. These incubators will allow you to share the use of laboratories and get a new business that can develop its profits and make more cheaply before beginning productions.

 

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