Experts from Snowball Effect will jointly run a Rotorua X Mastery Series workshop with Firestation on Wednesday 29 June. The aim is to help local businesses understand the options of raising funds to grow their businesses.
Darren McGarvie , Rotorua X chair and chief coach from Firestation, said he hopes many businesses take the opportunity to come to the session.
‘We are running a two-hour workshop on Raising Funds and Capital. Many businesses need funds to grow and reach their full potential. When personal savings and resources have been tapped out, they need to cast the net a little wider and look at other options.”
“This workshop will provide business owners with the funding options available to them,” he said.
The first half of the workshop will cover traditional lending and tips and tricks on securing business bank lending. Mr McGarvie said he also wanted businesses to look at other options including equity crowdfunding and experts Snowball Effect were best suited to talk businesses through those options.
“Snowball Effect have supported Rotorua X for the last two years as judges for our Pitch Nights and will be at the Judging table again for our 2016 EMA Pitch Night in October. They will also attend the official launch of Pitch Night in the evening following the workshop. We are extremely grateful and appreciative of their support,” he said.
Snowball Effect has helped raise more than $19 million for business ventures in its one-and-a-half years of operation, and claims more than 70 per cent of market share in the fledgling industry.
Equity crowdfunding got the green light in New Zealand in 2014. It allows Kiwi businesses to reach both everyday investors and wholesale investors online, without the expense and regulatory hassle of floating them on the New Zealand Stock Exchange.
Shaun Edlin, Head of Deal Flow at Snowball Effect, said he was looking forward to helping Bay of Plenty business owners better understand equity crowdfunding.
“Market awareness and understanding is one of the biggest barriers to greater use of online investment. Taking part in workshops like this one, where business owners can come and hear about the options and benefits, is fantastic,” Mr Edlin said.
“Businesses are raising millions of dollars through Snowball Effect at the moment.”
“For companies it’s improved access to finance. For investors it’s a simple channel to invest in and support a productive economy,” he said.
Raising Capital and Finance Mastery session is on Wednesday 29 June from 12-2pm. Find out more or RSVP.