I am coming to the end of my Master’s program in Entertainment Business at Full Sail University. It has been an incredible journey as I gained a new level of useful knowledge. My hope is that you have gained some insight from my learning throughout these months, too.
The final class is the Final Project: Business Plan. It is exciting to be pulling everything together in a comprehensive business plan that I will be able to use as the foundation for my new entertainment business. When I originally started this blog, my intention was to focus on creative entertainment productions. I wanted to generate a conversation with creative and production professionals about creating new innovative ideas for the entertainment industry. However, the requirements of each course have focused the students to speak to specific topics. Additionally, I found the process of writing my blog beneficial for my readers as well as my own learning.
This week we were given the choice to discuss financing opportunities, requirements for different types of financing for start-up businesses, and information available on websites with a plethora of alternative financing information. As an alternative, we could focus on the theme we had established with our original blog. I believe that my readers could more greatly benefit from discussing the financing opportunities. This may allow you to find the resources required to be creative and successful with your individual entertainment projects.
The alternative financing websites have some common themes that include CDFI’s. The vision of the Community Development Financial Institutions Fund (the CDFI Fund) promotes an America in which all people have access to affordable credit, capital and financial services (cdfifund.gov). The CDFI Fund was established under the Reigle Community Development and Regulatory Improvement Act of 1994, and since then it has become one of the largest single sources of funding for CDFIs and is the largest source of hard-to-get equity capital.
CDFIs are specialized financial institutions that create economic opportunity for individuals and small businesses, and help provide quality affordable housing and essential community services. CDFIs help bridge the growing U.S. financial services access gap by bringing capital and financial services to low-income people and communities. Therefore affording them access to capital to start and expand businesses, build and purchase homes, and develop much needed community facilities (www.ncif.org).
There are requirements for obtaining funds from these financial institutions. Many involve low income, minority, or Native American communities. It takes some digging and research to find an opportunity for the rest of us. However, there seems to be a number of institutions ready and willing to help start-up businesses. Small businesses create jobs in America and many government organizations are doing what they can to provide assistance to entrepreneurs.
If you are looking for alternative financing for your business venture, be sure to weigh the advantages and disadvantages so that you make a good decision for your business. Each program must be carefully researched before signing a contract and moving forward. It will take some time but with the right resources, you can be following your dream and creating creative entertainment that could help bring joy to the world.
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