(NEWS CENTER) Maine's businesses, like those across the US, all need access to capital to exist and grow.
Many firms that are poised to expand or launch new product and service lines may consider turning to venture capital as a means of financing that growth, but "VC" is not for every business.
Alan Hinsey, host of Mainebiz Sunday, joined us on the Morning Report to give us a quick overview of what venture capital is and how it works.
Hinsey says venture capital has high risk but also high rewards.
Venture capitalist are in it for the end reward so they won't collect from you at the start but at the end.
Some guidelines for businesses interested in venture capital: the business must be high risk with the opportunity for high returns, you must have an exit strategy and it will cost you more but in the end you should get a bigger return.
We have some websites that would be good resources for you if interested: Small Enterprise Growth Fund of Maine and FAME.
And if you really want to learn more: tune into Mainebiz Sunday this Sunday at 10:00 AM on WCSH 6 and WLBZ 2 right after Meet the Press:
We'll be discussing access to business capital in Maine - especially Venture Capital with 3 experts:
Michael Gurau, Founder, Clear Venture Partners
Robert Phelps, CEO, Bar Harbor Biotechnology
Beth Bordowitz, CEO, Finance Authority of Maine
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