Revolutionizing Small Business Funding: Ross Chanowski on Community-Focused Crowdfunding and Financial Resilience in Hospitality

The Bar Business Podcast

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Learn about different types and forms of bar financing with Ross Chanowski, the founder of NuMarket. Ross passionately shares his journey into social entrepreneurship and the profound impact small, community-focused businesses can have on their local areas. His insights reveal how NuMarket is providing a lifeline to bars, restaurants, and coffee shops, enabling them to secure the necessary funding to thrive and become financial pillars in their communities.
Facing funding issues in your small business? You're not alone. We tackle the inherent challenges of securing traditional loans, from high interest rates to overwhelming paperwork, especially in rural areas. Through personal stories and real-life examples, we uncover the emotional and psychological toll financial struggles take on business owners. Ross also sheds light on the importance of understanding regulations and information on different funding sources.
Explore the innovative concept of credits-based crowdfunding, a game-changer for local businesses. Learn how offering credits to supporters can ensure a loyal customer base while boosting financial health. Hear about successful crowdfunding campaigns and the importance of authenticity and community engagement. This episode is packed with practical advice and potential solutions to help small businesses not just survive but flourish through collaboration, proper setup, and mutual value models. Tune in to see how fostering community ties can lead to significant growth and sustainability in the hospitality industry.
Contact Ross:
NuMarket
[e-mail]

Welcome to the Bar Business Podcast, the ultimate resource for bar owners looking to elevate their businesses to the next level. Our podcast is packed with valuable insights, expert advice, and inspiring stories from successful bar owners and industry professionals. Our mission is to help you thrive in the competitive bar industry and achieve your business goals.
Thank you to our show sponsor, SpotOn. SpotOn's modern, cloud-based POS system allows bars to increase team productivity and provides the reporting you need to make smart financial decisions.
**We are a SpotOn affiliate and earn commissions from the link above.
Thank you to our benchmarking data partner Starfish. Starfish works with your bookkeeping software using AI to help you make data-driven decisions and maximize your profits while giving you benchmarking data to understand how you compare to the industry at large.
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Capitoli

1. Impact of Social Entrepreneurship in Hospitality (00:00:00)

2. Challenges in Small Business Funding (00:09:58)

3. Navigating Small Business Funding Regulations (00:18:34)

4. Community Crowdfunding for Local Businesses (00:28:04)

5. Building Community Through Crowdfunding (00:38:41)

6. Small Business Profitability and Collaboration (00:46:32)