Self-Fund Your Business or Use Other People’s Money?
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Jan 17 | 10:00-11:00 am PT
Running out of money is one of the top reasons businesses fail. Using the ‘right’ money at the ‘right’ time can help you stay in business as well as accelerate your startup or growth. However, it can be tricky to know when you should self-fund your business and when you should look for sources of debt, grant or equity funding.
If you tend to default to building your business with your own savings, you’re not alone. According to a recent study by Women’s Enterprise Organizations of Canada (WEOC), 88% of women entrepreneurs feel confident managing their business finances, yet 78% hate owing money and 62% take pride in building their business without external sources of money.
There are times when it makes sense to self-fund your business, and there are times when it makes sense to leverage other peoples’ money.
On January 17 our Senior Director of Loans & Advisory Services, Melanie Rupp, will explore these different scenarios and answer common financing questions such as:
- What is the cost of using my own money to grow my business?
- Is it less risky to use my own money?
- Do I need to go into debt to grow my business?
- How do I know which funding sources are right for my own business?
Join us to learn how to match your business needs with the right kind of funding!
January 17, 2024 | 10am to 11am PT | Free WeCafé on Zoom
Open to everyone!
Facilitator: Melanie Rupp, Senior Director of Loans & Advisory Services, WeBC
Meet the Facilitator
Melanie Rupp, WeBC Senior Director, Loans & Advisory Services
Melanie Rupp is the Senior Director, Loans & Advisory Services at WeBC, and a Certified Investor Q&A™ Trainer. She leads a team of knowledgeable client services, business advisory and loan administration staff, oversees the loan portfolio and cultivates strong relationships with WeBC’s lending partners. Her team supports women entrepreneurs in BC with business loans and advisory services, and responds to thousands of requests for information every year.
Melanie specializes in working with women to find the right mix of funding to start, scale or purchase a business. As a former commercial lender, she understands the challenges women experience in accessing capital, and is committed to breaking down the barriers women-identifying entrepreneurs experience in accessing the capital they need to achieve their full potential in business.
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