Acquiring funding for startups is easier than ever

Acquiring funding for startups is easier than ever

| Feb 7, 2018 | Business Law |

Plenty of working professionals, whether in Ohio or Silicon Valley, dream of having their own startup and the autonomy that comes with it. Although they feel inspired when they hear stories of small startups that later grew on to be thriving businesses, such as Facebook, Google and Tesla, they are also very aware of how integral gaining funding is for the success of their business.

Fortunately, startup funding is expected to be accessible to a very large degree this year, according to several entrepreneurs, and it was the case last year as well. Interestingly, despite the emergence of new ways to acquire funding, particularly through initial coin offerings by startups within the blockchain area, the most popular method still remains through venture capital firms, which are expected to doll out several investments and make life easier for entrepreneurs, both working and aspiring.

However, entrepreneurs still face several other problems when growing their business: First of all, they are constantly having difficulties finding and hiring qualified talent, a resource that is always in short supply. Consequently, four out of every five entrepreneurs are constantly looking for new hires to add to their team. Speaking of talent, entrepreneurs have been trying to create more gender diversity in the workplace by promoting women to leadership roles in the hopes of balancing the gender inequality present within the startup scene. When it comes to cultural diversity, entrepreneurs seem to strike a balanced chord with more than 50 percent of startups having at least one immigrant among the founding team.

Launching a startup is hard work regardless of how accessible funding might be. This includes all the legal red tape that surrounds every action taken by an entrepreneur, be it forming the venture, receiving funds or hiring new employees. Consequently, it is advisable for an entrepreneur to seek legal counsel to represent their best interests and guide them through the mountains of paperwork necessary to make their dreams come true.