Noums: A New Way to Finance your Business and Grow
In this article:
What are Noums and how do you use them?
How Noums can help you grow your business
Ways you can use Noums to raise funding and capital for your business
Knowing how to grow your business isn’t always easy, especially if you lack the financial resources to make your vision a reality. After all, taking a company to the next level requires cash flow, experienced workers, infrastructure, and equipment. Freelancers and those of us pursuing entrepreneurial endeavors know access to funding is especially important to building a successful business model that can grow to scale and outpace the competition.
This is where Noums come into play. Noums are an entirely new way for emerging businesses to explore growth opportunities through the vehicle of capital investment. On the Noumena platform, you can connect and collaborate with finance experts and funding partners who can provide the financial guidance and backing you need to take the next step in your business plans.
Read on to learn more about the basics of Noums, including how they work and why they are such a valuable tool for freelancers, entrepreneurs, and small business owners.
What Are Noums?
In short, Noums are digital workspaces that facilitate easy networking between like-minded freelancers, industry experts, and capital investment firms. Inspired by the concept of threaded financings, Noums provide an easier way for freelancers to acquire the business financing needed to get a new venture off the ground or expand upon an already successful company. Once a freelancer creates a new Noum, they can invite other individuals to their Noum to view the contact details, send or receive money, and communicate through the Noum’s embedded social tools for direct collaboration with customizable privacy settings.
For investment firms, Noums offer an alternative to providing a traditional business loan by orchestrating direct communication with the client in a secure digital space where all transaction processes can be conducted. This includes:
Facilitating client payments
Adjusting contract terms in writing
Maintaining a secure record of each transaction that occurs
In addition to all this, in the longer term Noums will also be able to operate as investments in and of themselves. Members of the Noumena platform will be able to buy, trade, or sell Noums freely, effectively making it simple to transfer ownership at the click of a button. It will even be possible to connect two or more Noums to create a greater investment vehicle from which partial ownership may be sold to others. For these reasons and more, Noums present numerous solutions wrapped into a single system that can prove indispensable for virtually any type of business.
How Noums Provide Potential Growth Opportunities for Freelancers, Solopreneurs, and Early-Stage Startups
While conventional business owners will often seek a bank loan to finance expansion, there’s another growing cohort of individuals that lenders often overlook when seeking new investment opportunities: freelancers and solopreneurs.
The number of freelancers in the U.S. has climbed steadily since 2014, and today they account for 36% of the American labor force. If you’re a freelancer interested in exploring ways to finance your business, Noums offers numerous resources that can help. Here are four ways that Noums help entrepreneurs, venture capitalists, and freelancers to grow their businesses like never before.
Connecting Capital Firms With Those Who Need Start-Up Capital
Noums create new opportunities for freelancers to acquire the start-up financing needed to get their business off the ground.
Whenever a financing agreement is made, a new Noum is created, which contains all the tools needed for freelancers to:
Check their balance
Communicate directly with the capital firm involved
In other words, Noums provide a secure digital space for online lenders and freelancers to come together in a mutually beneficial way. While members discover new options for small business financing, capital firms gain instant access to an extensive pool of attractive investment opportunities.
Providing Freelancers With New Funding Opportunities
For many freelancers, a cash injection could facilitate business growth that would otherwise be difficult to manage. Noums opens up a new world of funding opportunities for freelancers, which can’t be easily found on other platforms.
Aside from tracking financial arrangements with lenders, with Noums, members can monetize their digital assets, invite other parties to share ownership of the Noum, or sell the Noum outright to others. The sheer flexibility of this system gives freelancers the versatile support they need to overcome financial issues, expand operations, cover business expenses, or take their careers in a new direction.