Starting a business in Vancouver is actually a very smooth process. You file in the proper paperwork, pay your fees for your business license and you can be up and running in less than a couple of weeks.
It’s really as simple as that.
However, this stage comes after you actually create a successful business plan and hopefully have a solid investor or two.
So how do you find these guys in Vancouver? Do you just borrow money from a lender near your house and off you go?
Although it’s possible, it’s best to find an investor who already has prior experience in business and the ups and downs that it may bring.
So let’s see what kind of investors you should be looking for?
Venture Capitalist
If you live in downtown Vancouver, you already know there are tons of startups and tech firms in and around the Gastown area. Well a lot of these companies were funded by VC’s or Venture capitalists.
These are basically business savvy individuals who have a lot of money. They are literally millionaires a few times over. However, it’s not the money that motivates them. It’s the journey of bringing a business to life from scratch.
Since a lot of these people hang out in cafes in this urban area, we highly encourage you to frequent these spots. Nothing will make a VC feel more into your project than you reaching out to them. If you do it face to face, it will just show your ‘hustle’ to them and most likely, you’ll end up working together. Or they may call the cops on you for harassment, etc Hopefully not.
I guess that’s another law of business . . . no risk no reward.
Jokes aside, this is a great way to meet a high end investor from this city and or at the very least, a great area to arrange a meeting with them. There are lots of startups and established companies here so all around, it’s a great place to pitch your idea to a solid investor.
Find an Silent Investor
A silent investor doesn’t really care about what you do. You can run your business anyway you like. They just want their money back upon when you agree to pay them.
Simple as that.
They have no desire to take part in your business. They just care about a solid ROI or return on investment. In Vancouver, the best place to find a silent investor is Richmond, BC.
These are mostly Chinese expats who are generally well off and quite educated. A lot of them are new to the country and are looking for business opportunities in the first place. If you can get in touch with them, most likely, you’ll have a solid investment ready to go and a partner that won’t interfere with your business idea.
A silent investor just wants to make sure they are getting their profits with you. Although you can ask them for advice, etc (Obviously they are smart business people too), but if you just like listening to yourself, then a silent investor is an ideal partner.
Most startups don’t care about what kind of funding partner they get.
At the end of the day, it really depends on you. If you are looking for someone who can offer some advice with the cash flow, then a venture capitalist is the choice for you.
If you are 100% focused on what you want and don’t need any outside interference, an angel investor is whom you need to get aboard and almost right away.