Raising Capital

The future capital needs of the business must be integrated into the very core of the business from Day One. That’s why Mr. Sherman’s book starts with savvy advice on the legal structure of the business and how to craft a business plan that will get the attention of financiers. And in discussing financing choices, the author gives candid, warts-and-all assessments of the benefits and risks of each kind. Raising Capital is as up-to-date as today’s headlines, with fresh discussions of every new capital source, including Direct Public Offerings (without an underwriter), stock offerings on the Internet and online stock auctions. Mr. Sherman also discusses business-expansion options that fall outside the normal loan and equity choices, including joint ventures, co-branding, franchising and licensing. This is the second book Mr. Sherman has written for Kiplinger’s Business Management Library, and it is an excellent companion to his previous guide, Parting Company, all about smart ways to plan for succession and transfer a business to one’s partners, heirs or an acquiring company. It takes a skilled practitioner in the field of business consulting and law to write books as knowledgeable as these, so we at Kiplinger— and our readers—are fortunate to have found such an expert in Andrew Sherman. My colleagues and I at The Kiplinger Letters and the Kiplinger Business Forecasts Web site stand ready to assist you in anticipating the twists and turns that lie ahead on your road to success—trends in economics, government regulation, technology, demographics, marketing, world affairs and much more. I hope you find Raising Capital to be a valuable tool in your business, and my best wishes to you for prosperity and satisfaction in the challenging years ahead.