Raising capital for a business can be very difficult, but it is not impossible. In this course, Mr. Nathaniel Beneby gives us a roadmap and various strategies to finding the funding that your business needs. Mr. Beneby draws on 40-plus years as a banker at the Royal Bank of Canada, where he started as an entry level and climbed the corporate ladder to become the first Bahamian President of RBC in The Bahamas. Mr. Beneby is also a businessman and owns several medium and small businesses in The Bahamas.
Mr. Beneby teaches in depth the main sources of capital in the Bahamas which are:
- Cash and Savings
- Bank Loans
- Equity Contributions
- The Bahamas Entrepreneurial Venture Capital Fund
- The Bahamas Development Bank
- Capital Markets such as Royal Fidelity and CFAL
He passionately expresses his concerns for companies with a copycat mentality and warns that entrepreneurs with this mindset will be less likely to receive funding. He shares that innovative and creative companies are more likely to succeed and ultimately receive funding.
He goes further into why companies fail, giving attribution to lack of business expertise and lack of understanding of financial statements. He also shares the difficulties of doing business in the Bahamas because of high capital and operational expenses. He believes that businesses should be fully capitalized with 6-12 months of operational expenses accessible to ensure longevity.
As a man of faith, Mr. Beneby shares on the importance of faith in business along with guiding principles that has led to his success. He encourages all entrepreneurs to seek help from business professionals and associations that provide expert advice. Mr. Beneby believes in the concept of people helping people and believes that reaching out to others is a key to realizing your dreams.
We hope that this course provides critical insights into raising capital, managing expenses, and building a profitable and long-lasting business!
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