Business Advice

Show Me The Money

02/11/09

By Guy Rigby

Show me the money!

Entrepreneurs with good ideas or growing businesses that need funding may not realise that there is an abundance of cash out there. The banks may still be proving challenging, but they only represent one brick in a massive wall of opportunity for purposeful and determined entrepreneurs.

At the early, early stage, friends and family and business angels will be the main source of funding, but there are organisations, such as that run by Julie Meyer of Ariadne Capital, the technology specialists, who pride themselves on...

...getting involved. You may also want to take a look at Fredericks Foundation, a charity that helps with business support and micro- loan funding for start ups and small businesses.

At the growth stage, angels may still be an option but organisations like Hotbed, Pi Capital, NESTA and The Technology Strategy Board can provide access to a mixture of equity and debt capital to help you grow your business. Asset-based lenders, offering invoice and other finance can be found through the Asset Based Finance Association. And don't forget about the possibility of grants from regional development agencies like SEEDA.

For more established businesses that are bumping into lending limits or struggling to raise development capital, there may be relief through VCTs or Private Equity. We like the Government-inspired Capital for Enterprise funds, providing up to £2m to profitable, well-managed businesses.

The opportunities are endless! If your business is turning over more than £2m pa or has bank or other debt in excess of £500k, email me at guy.rigby@smith.williamson.co.uk for a complimentary 'fast track funding' review - a one-on-one funding clinic to help you assess your needs.

Rate

Bookmark

Advertisement

Advertisement