I started my own est. more than 5 years ago. The business is in the field of IT hardware (trading and maintenance). It took only 3 months from the actual opening to start getting surplus or net profit, and ever since, the business is steadily generating an income.
However, the net profit has never been enough to cover my family expenses (schooling, college, house rent, ...etc). To make both ends meet, I had to borrow from friends, relatives and banks. But the debt actually increased my monthly commitments and made things worst. Furthermore, the debt eliminated the chances for the growth of the business in the past.
The only way which I can see now is to inject more funds into the working capital and to hire more staff and start an aggressive marketing strategy to develop the business and increase the sales and ultimately increase the income.
How to find the investor or partner who can provide the sufficient liquidity and participate in the development of the entity?
I have prepared a professional and realistic Business Plan with future financial projection and it is really promising, will it be enough to convince the potential partner??
Please let me have your thoughts on this.
However, the net profit has never been enough to cover my family expenses (schooling, college, house rent, ...etc). To make both ends meet, I had to borrow from friends, relatives and banks. But the debt actually increased my monthly commitments and made things worst. Furthermore, the debt eliminated the chances for the growth of the business in the past.
The only way which I can see now is to inject more funds into the working capital and to hire more staff and start an aggressive marketing strategy to develop the business and increase the sales and ultimately increase the income.
How to find the investor or partner who can provide the sufficient liquidity and participate in the development of the entity?
I have prepared a professional and realistic Business Plan with future financial projection and it is really promising, will it be enough to convince the potential partner??
Please let me have your thoughts on this.
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