Comments on: Why the Angel Tax Credit program in AZ is a joke

By: Importing Manufacturing.. Boon or Bust? | Derek Neighbors

Importing Manufacturing.. Boon or Bust? | Derek Neighbors — Sun, 06 Dec 2009 06:09:58 +0000

[...] but where are the tax credits for local job creation coming from entrepreneurs. Short of the angel tax credit, there isnt [...]

By: sean

sean — Thu, 03 Sep 2009 06:40:19 +0000

@Derrick – sounds like AZEDC has cleaned up their act in the past 2yrs since we submitted our app (which is nice to hear- they’ve had plenty of time to do it). The wait was nearly half a year when we submitted.

So you’re a brand new startup with no product/sales/anything and you’re paying an accountant to do 5yr projections with the hope of landing Angel? Great use of your money… We’ve dealt with real Angels and the legit ones know that 5yr projections on a day one of a startup are as worthless as the paper they’re written on. They want to see how you think and understand the space, what your track record is, what you can produce and what your go-to-market strategy is.

If you need help making speculative financial projections, contact me and I’ll have my 2yr old niece fingerpaint some and I’ll only charge you half what your accountant is charging you.

sean

By: Derrick

Derrick — Thu, 03 Sep 2009 04:20:49 +0000

As to you comment about operating history I just disclosed that we were an upstart and no problem. Five year financial projections are standard with any angel anyways – if you don’t have them they will laugh at you. You need to get an accountant and sit down and spend the time and money to create projections (sure they are shots in the dark – but you can’t build anything without a plan). @Derrick

By: Derrick

Derrick — Thu, 03 Sep 2009 04:18:40 +0000

Wow – I am stunned. Did the application take some research, yes. Did it require some digging? yes. Was the app a pain to find? yes. But after you spent a few hours with it and filled it properly I was certified in less than 4 business days. Letter in hand etc. and investors LOVED IT!!!

If you need help with these contact me – I will gladly pay an intern to fill it out and charge you $2500.

By: Shanti Braford

Shanti Braford — Thu, 22 Mar 2007 23:16:41 +0000

Great post, Sean. Saves me the time from submitting an application for this!

Have you looked into SBA Loans?

I’ve heard mixed things about how hard they are to get, and the kind of hoops one has to jump through to get em.