What is the way to get a business idea funded?

If you’ve identified a group of interested investors, you need to draft a business plan. While much of it will share boilerplate features with those of non-VC businesses, you’ll need to pay particular attention to fee structures, capital commitments and a number of other items that have already been well listed in some of the other posts.

You should also educate yourself about the legal and compliance costs beyond formation. While establishing your entity might be relatively simple, the complexity and costs can mount significantly once you start getting into the business of securities regulation, deal structuring, tax planning and compliance, and assorted matters related to contractual obligations and other compliance areas (e.g., privacy and anti-money laundering requirements).

Engaging an experienced attorney or accountant – or both – before developing your business plan is also advisable. Professionals who are actively engaged in the focused practice of establishing and guiding funds with a financial and legal lens can yield a wealth of information. For a free consultation check out LawTrades, a legal startup that connects businesses with affordable and bright attorneys.

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