April 14 Finance Chat: Raising Equity in a Down Market
We’ll succeed if we band together through the COVID crisis and recession. Don’t struggle alone. We’re bringing the community together through free webinars / Q&A sessions with our team and other experts. Here are the details for how to join: Quaranteam HR and Finance Chats. Here are the updates from the latest webinar about Raising Equity in a Down Market.
2020-April-14 Finance Quaranteam Chat: Raising Equity in a Down Market
Download the slides HERE
Answers, Resources and Links
- Startup Survival Guide to COVID19 (Medium) Valerie Song
- Small Business Petition: savesmallbusiness.ca/petition/
- BCEDA #COVID19 Resources for BC Businesses google doc
- CEBA Petition: Change.org
Financial Banks CEBA Application Sites
- RBC https://www.rbc.com/covid-19/business.html
- Scotiabank https://www.scotiabank.com/ca/en/personal/scotia-support/latest-updates/coronavirus-covid-19/business-banking.html
- Van City CU https://www.vancity.com/BusinessBanking/Financing/Loans/CanadaEmergencyBusinessAccount/
- BMO https://www.bmo.com/main/business/covid-19-business-support/
- TD https://www.td.com/ca/en/personal-banking/covid-19/small-business-relief/
- Envision CU https://www.envisionfinancial.ca/covid-19/financial-relief-for-businesses
- HSBC https://www.hsbc.ca/
- CIBC https://www.cibc.com/en/business/advice-centre/covid-19.html#governmentrelief
- Prospera CU https://www.prospera.ca/AboutUs/ProsperaNews/MemberNotices/COVID-19/#contentTab4
- Westminster CU https://www.wscu.com/Personal/AboutUs/MediaCenter/MemberNotices/COVID-19/#contentTab4
- Coast Capital Savings CU https://www.coastcapitalsavings.com/contact/precautionary-measures/helpful-resources
- Aldergrove CU https://www.aldergrovecu.ca/Personal/AboutUs/MemberAnnouncements/
Highlights
It seems that the motto for moving forward with pitch and new projects in our area is “Do more with less” Basically everyone sees the limited resources available but still has to do the work.
– Janos Toth
Cashflow Forecasting Tools
- 3 Way Monthly Forecasting:
- Jirav
- Spotlight Reporting
- Weekly/daily Cashflow forecasting:
- Helm
- Dryrun
- Cashflow Frog
- (* All integrate with Quickbooks & Xero)
Raising Equity in a Downed Market
- First cut the burn rate
- Focus on profitability over growth
- Unit economics
- ‘Cut’ marketing
- Prepare to take a lower valuation, more dilution
- Survive
- Look elsewhere for investors
- Who just made money?
- Institutional investors vs. private
