Ever since we started in the Project Funding Domain, a few home truths hit us hard. Some of them are the following:
Internet and especially the Linked In is fraught and filled to the brim with self styled consultants / brokers/ advisers, who claim to be able to help the project owners but end up marketing the project to other of their ilk, without actually knowing who is genuine and having effective solutions.
Such self styled professionals end up harming the reputation of the consultant / adviser community no end and make matters difficult not only for the genuine professionals but also the project owners, who then start doubting all consultants / advisers.
We have found some of these self styled professionals do not even understand basics of finance but poise grandiose.
Many project owners have complained that a good number of such consultants are not to be seen after managing to squeeze small amounts from the project owners.
The consultancy / advisory businesses need not necessarily get themselves registered as corporations in most countries and thus it is easy for all and sundry to become a financial adviser / consultant.
Project owners before embarking on a fund finding exercise will be well adviced to atleast do a basic check on experience, place of business, basic registrations like income tax numbers etc.
The minimum modicum of confidence an adviser can provide a project owner is get D&B or other such registrations so that the project owner is sure that the person / company is genuine at the least.
It is for this reason that ‘Exserve’ first got itself ‘D&B Online Trusted’ and tied up with genuine source / consultants with direct access to sources before coming to the market
After the meltdown of 2008, the traditional lending system is barely able to meet the huge demand from Entrepreneurial expressions in the society / economy.
Many project owners therefore have to necessarily look to alternate capital source, which is no mean task in view of the proliferation of self styled advisers / consultants and the almost always onerous task of trying to find genuine advisers / consultants.
There are very few genuine funds providers and by consequence very few genuine advisers / consultants.
In my next post, I will touch upon the very important aspect of the initial expenses or ‘charges for preliminary due diligence’ and ‘providing references.’
“Rajesh Kumar Dokwal was the Founder Director the Bhagyodaya Urban Co-operative Bank Ltd. in Delhi from 1996 till 2000. He has More than 40 years’ experience in banking and presently he his representing India of London based strategic management advisory for international project finance adviser, specializing in helping finding finance on large scale infrastructure projects, public sector entities and private sector energy.”