How to Raise Money to Grow in Current Climate

Q: I own a heating and air-conditioning company that has grown to a roughly $6 million-a-year business in just a few years. I feel there is a real opportunity in today's slow economy to purchase a direct competitor. I would like to raise money through equity or debt to do this. But I understand that most of the private-equity or venture firms are looking mostly to invest in tech or biotech. How can a business like mine raise money? -- C.S., Vero Beach, Fla.

A: You're right that there are opportunities now to scoop up businesses at attractive prices. But you don't want to compromise your current successful operation by overleveraging yourself. We don't know whether today's economic downturn will last one year, three years or even longer, but you should prepare for the worst.

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