Need Business Funding?

Anonymous · Nov 30, 2005

I've been away... You didn't notice???? sob sob.

Time flies when you're updating improving, repackaging, rebranding, gathering more investors, tempting more Entrepreneurs, writing more PR and generally being a jolly busy sort of useful person....

cue Drum roll...

ProfitEngine has had a face lift; same functionality only more user friendly, prettier and chattier and hopefully less intimidating - well that's the audience said. And did i mention FREE to entrepreurs?

For those who still don't know it's a service that matches entrepreneurs looking for business funding to investors.. It keeps business plans secure, it protects investor details, until such time as everyone wants to share more details. Don't find out here.. go to the site and read all about it.

Think Dragon's Den, without the tv cameras, without Rachel Elnaugh, no used notes in a briefcase.. (but lots for transfer via the bank), but still accessible from the comfort of your chair.

Approx 3000 investor contacts now have access to business plans.

www.profitengine.co.uk

Admiral Collections · Dec 2, 2005

Hi SilkyP

I have just joined up on the entrepreneur side of your site, it asked where I had found the details from and I have put UK Business Forum, just thought I would introduce myself to you really!

Speak to you soon

Nic

caroline · Dec 2, 2005

Hi SilkyP
I just wanted to ask you about your site. I have been thinking of signing up but as the European patent for my business isn't lodged yet I was wondering how safe it would be for me to add my business plan? I know you said there is a confidentiality agreement in force but would I be better off waiting until the patent is lodged as I haven't told anyone yet.
Great site btw

Ian J · Dec 3, 2005

caroline said:
I know you said there is a confidentiality agreement in force but would I be better off waiting until the patent is lodged

A confidentiality agreement is only as good as the parties involved and if as SilkyP has stated they have 3,000 investor contacts on the site, you would be taking a big risk as no-one could possibly have checked them out and you therefore won't know who they are and therefore what their motives are.

Say you have a good idea which you present to these unknown investors and one decides to take up your idea and run with it himself - what will your recourse be ?

caroline · Dec 3, 2005

Hi Ian
I tend to agree with you, I have held out this long without telling anyone so I'm sure I can wait a little longer.

Anonymous · Dec 5, 2005

I'm not sure if anyone has actaully been to the site but Profitengine has gone to enormous trouble to ensure that business plans are only viewed by licensees of the software.

Scepticism has been catered for and it has been the knee jerk reaction of most people. Profitengine is merely offering a secure alternative to high street options and thus there is often more flexibility about repyament terms.

To become a licensee you must accept and agree to abide by our stringent non disclosure agreements before you are allowed to purchase this license.

An investor must agree not to disclose any details to a third party and has paid a considerable sum of of money to view buisness plans. All activity on the site by that investor can be viewed and is traceable.
However as you say, what's to stop an unscrupulous investor just plagiarising the idea.-

>> all accounty activity is traceable
>>No one can view business plans who has not agreed to the NDA conditions
>>An investor must purchase a license to view business plans,
>>No entrepreneur can view another's plans.
>>There will always be people who look for a route to hack the system, but sadly that's life, although profitengine has taken genuine security steps to make this as hard as possible

>>if you need the money, then eventually you're going to have to share your idea with someone some time.

Anonymous · Dec 5, 2005

I forgot to say, that unless your idea really is rocket science, then you may find that the costs of patenting it could be prohibitive.

But if you can afford it, then it will of course give you some added security.

Thanks for looking at the site everyone - i appreciate your comments and the opportunity for feedback.

Best,
Silky P

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