Looking for partner

mulrook1

I have a new business ready to go based in Galway, but cant get funding from banks finance co etc. I would take on a partner willing to fund this business. They would get top returns for their outlay, without having to do any of the work. I had put an add in a newspaper but got some very strange replies. Would anyone have any advice as to what step i should take next?

LoLth

have you tried the county enterprise board?

Another option would be to look for venture capital from larger businesses in the area but even getting your proposal seen will be a hard slog.

in all honesty, you are very very unlikely to get someone willing to shell out 100% of your startup without having an actual almost 100% stake in the business, as in they make the strategic decisions and decide on teh market direction. you would essentially be an employee.

Startup capital is possibly the hardest type of loan to get approved as you are tryign ot sell a concept rather than a product. i take it you've already set up a cost analysis and have a five year projected P&L ?

next step: imho, try to do what you can to ind your own capital, even if its just to start at half the size you were considering. Work at whatever you can and save. once you show commitment you are much more likely to find an investor.

on another note: i'm not sure if this is exactly what the term "helpdesk" is meant as in this instance. I think its more of a "help with your boards.ie related queries" type of thing.

Zaph

This forum is for people experiencing problems with the Boards site itself. The Entrepreneurial & Business Management forum might be a good place for you to look for advice.

LoLth

what he said

mulrook1

Thank you for your advice, only first time on this site.