The Go BIG Network has published data showing that funding requests by small businesses were down during the first quarter of 2007. The average amount of funding requested was $$928,875, down from $1,073,359 in the previous quarter.
That’s according to the Go BIG Network’s Small Business Funding Review (PDF), which notes:
The Go BIG Network’s survey includes funding requests made on its Web site of more than 40,000 small businesses in the first quarter of 2007 by entrepreneurs and startup companies seeking angel investment capital, small business funding and venture capital. The Go BIG Network connects entrepreneurs and small businesses to early stage investment sources to help fund startup companies.
Go BIG Network is another of the growing group of service providers that make available aggregated data of actual usage. In other words, this is not a survey. Rather, it is data of actual requests for funding by entrepreneurs.
Now take a look at the following ranking of the top ten industries that made the funding requests:
What I find interesting about this ranking is the preponderance of traditional industries. When we hear startup funding, we might automatically assume those requests are all for technology businesses or the latest Web 2.0 startups. While some of those types of businesses are included in these rankings, look at all the other industries where entrepreneurs are requesting funding, including traditional industries like construction, retail, manufacturing and real estate.
Who says manufacturing is dead?
