Crowd funding seems to be a big thing at the moment. For many entrepreneurs in the equine industry, financial backing is the missing link to bring a great idea to fruition. Recently I have been blessed to take part in a savings program that matches dollar for dollar what my husband and I put away up to a set amount. This is to be utilised for one of our children’s education. And I got to thinking about a financial program for horse entrepreneurs that aids people in the area of funding.
Like this savings program, the idea would be that finances are provided to those with products or services that cannot go ahead without financial aid. Perhaps the idea could be explored and a budget set out to show how it will actually occur.
Then from here, financial backers could help. This may be people in the equine industry who are willing to invest in new ideas that could benefit the industry. Or it may be other people who have the financial capacity to help without actually having a link to the equine industry.
The Financial Program
Once the idea is put against a budget and a potential backer – or two! – is found, then it is up to the person or group to show that they are investing finances, too. From here a savings plan could be set up where a set amount is put away each week, fortnight or month. Then at the end of each month the backer/s match the amount dollar for dollar, or whatever predetermined amount is set.
In this way the entrepreneur is showing they will invest in their product but they are also guaranteed of extra finances to help them achieve their goal. There is no savings account where you can earn 100% interest. And yet, someone matching you dollar for dollar as you put away into a savings account does this. And of course, you also earn interest! It is possible to throw in an extra rule where entrepreneurs pay back the amount loaned to them once their product is live and earning a return. So why not a financial program for horse entrepreneurs?
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