Businessman Paul Saunders formed Virginia firm James River Capital after acquiring them from Kidder. Saunders developed the investment firm alongside Kevin Brandt. James River Capital was started out in 1995. In an article from Premier Gazette, the founder of James River Capital lists the many ways that entrepreneurs can fund their startups. The first method that he instructs people to try is acquiring money right from the sources of friends and family members. Entrepreneurs can also try to pay for some of it with their own money as Saunders lists that this method can be a good step for earning trust from others if family and friends are offering money towards the cause. Overall, it lends credibility. Next is through crowdfunding, which Paul Saunders lists as a new way to fund a business with groups of people who will donate their money in support. However, this source will work for people who have a big following on social media and who know how to use it to their advantage.
A simpler approach like many others who don’t have the funds is to take out business and local loans to help pay for the startup. When it comes to taking out business loans, individuals will need to have a good credit score to be able to take out any of those loans. Other more traditional ways of securing finances for a business is through angel investors and venture capitalists, who will invest their money into business ideas that they see as ideal and that will boom. When it comes to venture capitalists, they will look to get their money back through revenue throughout the years. Paul Saunders advises that aspiring entrepreneurs need to prepare to pitch their ideas to be successful in acquiring the funds from them. Another option to fund a startup is through trading equity by exchanging stock in the company to investors. Paul Saunders closes the article by stating that there is a wealth of options to fund an upcoming business and that people need to find the right option(s) for them.