Wednesday, September 16, 2015

For this week’s finance module, I completed the section on Finding Funding.  This section introduced six different possibilities for funding a small business. For each example, basic information was given about each option along with the pros and cons.  I was already aware of several resources for obtaining start-up money for new businesses including self-funding, loans from family and friends, bank funding, and government loans, all of these are pretty much self-explanatory. However, I  was introduced to one innovative idea for funding which was crowdfunding.  I have heard of crowdfunding for a means to raise money for individual’s various medical treatment or trips, but I never thought about applying it to small business start-ups.  The information in the module was limited in this section so I did some additional research in this area.  Apparently there are several different types of crowdfunding including reward based, equity, debt-based, litigation, and charity.  Several of these options might work for instituting funding for a new business? I was also somewhat familiar with microfinancing, which seemed to me, to be one of the best routes for funding  a small business, especially if you’re applying it to a student population.  
 The Finding Funding section also introduced new technology skills including advanced Google search and which is a social networking service.  I was familiar with Google advanced search but I frequently forget to use it, so this served as a good reminder. was new to me but apparently it has been around for a quite a while.  I might need to do some more exploring on this website which looks very interesting.  

     If I was going to integrate this information into the classroom, I would start by introducing the information about the different funding options.  Using the new technology skills, I would have the students meet in groups to explore funding for a fictitious business along with completing a  group discussion.  I would also ask them to consider local resources for support.  I think UGA has small business support information services.  Clark Howard, out of Atlanta,  also has some great information on his website   


  1. These are great ideas, Laura. The small business development center at UGA has a fabulous tutorial on basic accounting concepts. They're free to anyone.

  2. The SBDC also has several training courses. The one that I attended wasn't free but I walked away with a lot of material. I didn't realize how crucial a well developed business plan was to get funding from a bank.

  3. I use Clark Howard's web-site frequently for my FSSE class. He always has up-to-date information on college loans, purchasing college textbooks, and money management (which we cover in class). After reviewing this section on Finding Funding - I went to his web-site and he has all kinds of information on business and entrepreneurship.