Finding funding for your business

merry-go-round

This is a blog that I researched and wrote for Sage. It provides some resources to review funding options. Funding can be very helpful for businesses who need to invest in research, innovation, capital investment and growth, and if you are in that exciting position and you tick the funders boxes, this blog is for you. Be sure to check out Top Tips for achieving Funding Success to learn from three great friends how they have achieved grant funding success and built very successful enterprises…

Raising finance to turn an amazing business idea into reality, or to invest in business growth plans can be challenging. Bank lending for start-up and growing businesses is still in the doldrums despite the Bank of England’s Funding for Lending Scheme (The Guardian). But entrepreneurs love a challenge and there are opportunities out there, and more options are emerging to fill the funding gap and provide much needed support to small businesses.

The business finance landscape is continually changing and researching available funding options can be time consuming, so here are some resources to help you find funding opportunities:-

The UK government has pledged to do more to help small businesses and offers grants and schemes that businesses can apply for depending on their market, geographic location and funding objectives. Gov.uk is a good place to find government services and includes a handy business finance support finder to search for grants.

Scottish Enterprise and Business Gateway are a good starting point for businesses based in Scotland and local Business Gateway offices offer one to one advice and support so it’s worth looking up your local office on their website.

The government backed British Business Bank works with 80 different finance providers to lend to businesses who may be struggling to access finance from traditional sources. Check out their comprehensive Business Finance Guide. The bank uses business angels, venture capital funds and trade credit providers, as well as traditional banks to fund start-ups and growing UK businesses.

Virgin startup is a not-for-profit organisation supported by the Virgin Group that helps entrepreneurs with business funding, resources and advice they’ll need to make their business idea a reality.

Better Business Finance provides impartial information and support to businesses and entrepreneurs looking to develop and grow.

Alternative Business Funding is a non-bank funders collaboration designed to provide free and easy access to selecting alternative business funding for SME’s including crowdfunding, invoice trading, peer-to-peer and pension-led funding, with more to join the collaboration in the future.

Growth Accelerator is a service led by some of the country’s most successful growth specialists where high growth businesses can find new connections, new routes to investment and new ideas and strategy.

Good luck!

Tracey

 

 

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