In Saudi Arabia and internationally, entrepreneurs face many challenges. Khalid Suleimani, Senior Partner at Chrome Advisory, covers shares three tips, to support entrepreneurs overcome challenges:
1. Not all funds are created equal
Entrepreneurs need to position their startups, in a strategic manner, to capture the right funding. This entails having a unique selling proposition, the ability to scale fast and an innovative business.
2. Get your finances in order
Make sure you have what your financier requirements ready. If you don’t, seek support. This entails all documents, financial statements, financing requirements and projections. This will facilitate the process with potential investors and funds.
3. Debit vs Equity financing for startups
Startups need to know which financial institutions, funds or investors to approach. Banks generally don’t lend startups, but they might lend SMEs. VCs do the opposite however.
If you are an entrepreneur, get in touch with Chrome Advisory’s team, to learn more about the expert services for startups.