Prof Jonathan Marks and Dr Frank Magwegwe discuss the challenges and opportunities for early-stage ventures in accessing funding in the capital markets.
‘Our capital markets favour mature businesses and are woefully underdeveloped for entrepreneurial ventures at earlier stages of development,’ says Prof Jonathan Marks, Faculty Lead for the MBA Entrepreneurship Focus at the Gordon Institute of Business Science (GIBS).‘However, funding opportunities do exist for those who know where and how to access them,’ says Dr Frank Magwegwe, GIBS Senior Lecturer and Financial Wellness Expert.
‘Being too early or late is the same as being wrong, so carefully judge when a capital raise will help your business move forward in an exponential way.’The extent of unresolved assumptions within an early-stage, often pre-revenue, business increases its failure risk – driving up the cost of raising finance. Marks advises entrepreneurs to test assumptions through small experiments and engagements with stakeholders and other constitutions. ‘If you want to start a restaurant, for example, start with selling food at a market, then from a food truck,’ he say
Funding Early-Stage Ventures Capital Markets Assumptions Experiments
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