Where can I get funding for my new UK business?...

Hi I was just wondering if anyone knew any good websites that may have some information about funding that I can access as a developing business?

Re : Where can I get funding for my new UK business?

You could get in touch with a Business Link advisor this is one of those very common questions for those starting a new business so they should be able to give you more information on this.

Re : Where can I get funding for my new UK business?

There are many different finance providers available and to a large degree the most appropriate will be dependent on your requirements. For example is the business leasehold or freehold? Is it a start up venture? What relevant experience do you have in the sector? What is current/projected trading performance? What security is available for the loan? Etc, etc.

There are so many variables and the type of finance and provider will be very much assessed on an individual basis and specific to your requirements. For an indication of the best and most appropriate options available for you I would always suggest you discuss your requirements with an Independent Commercial
Business Finance Specialist who has access to the whole of the lending market.
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Rebecca Bendle is a specialist independent business finance adviser, and is part of the Worldwide Financial Planning team of FT award winning Independent Financial Advisers based in the UK.

Re : Where can I get funding for my new UK business?

It is very hard to get funding as a new business.

The government propagates this myth that it is easy and there are grants flowing out of everywhere, but based on the questions I've asked and brief research I've done there are very few grants indeed compared to number of applicants for them.

Re : Where can I get funding for my new UK business?

It's true... there are grants out there and other funding but I have been told it is a full time job applying for some of them because there is so much paperwork and pre-qualification work to see if you are eligible or not.

Re : Where can I get funding for my new UK business?

It can be a full time job applying for funding and completing endless reams of paperwork. That's why it is best to enlist the help of a Commercial Finance Specialist who will assist with this.

Furthermore, a specialist has access to the whole of the market and will only approach lending sources who are active in the particular sector you are looking to borrow in.
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Rebecca Bendle is a specialist independent business finance adviser, and is part of the Worldwide Financial Planning team of FT award winning Independent Financial Advisers based in the UK.

Re : Where can I get funding for my new UK business?

Have you looked at potential investors, if you are open to it. Business Angels etc are one source, but they have I think a minimum investment of £100K or something and they want a large chunk. If you have a good idea or if you have a good reputation as a hard worker, you may want to approah other small business owener.
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Re : Where can I get funding for my new UK business?

Business Angels are a good for those who have a good idea but no money or collateral at all. As you say, they do take a large chunk but a small percentage of something is better than 100% of nothing!
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Rebecca Bendle is a specialist independent business finance adviser, and is part of the Worldwide Financial Planning team of FT award winning Independent Financial Advisers based in the UK.

Re : Where can I get funding for my new UK business?

Can you provide more details on business angels and how they work?

Re : Where can I get funding for my new UK business?

You could ask for a big overdraft from your bank if you have a business account


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Re : Where can I get funding for my new UK business?

Hi members

I would just like to inform people that if you have taken out a business loan or if it is still an active loan you may have been mis-sold a product in conjunction with it.
This means you may be entitled to compensation worth thousands.

This money can be especially useful to SME and inject some much needed capital back into the business during these tough economic times.

To find out more please visit us at http://www.itsinthesmallprint.com.

I would encourage you to take our 60 second test also which will enable you to see if you qualify for compensation.

Hope we can help

Re : Where can I get funding for my new UK business?

Interesting stuff.

But how do you 'prove' that you were mis-sold something?

I remember once having PPI added to a credit card by a financial provider, despite saying "no" when asked if I wanted it on a phone conversation with them.

When I phoned up and asked them to listen back to the recording of the conversation to show this, they just said that particular conversation wasn't recorded...

Re : Where can I get funding for my new UK business?

Get a business loan, and if you can't get one of those then maybe well off family and friends.

If you have no other option try the Dragons Den

Re : Where can I get funding for my new UK business?

Speaking from experience as an ex-bank manager ( I left 2001!) bank funding in the current climate will be difficult to get and expensive. You will need to put a fair chunk of capital up yourself to mitigate the banks risk and have to demonstrate that your business idea is sound with a well researched business plan. The banks are now risk averse and hoarding their capital.

Alternatives are to take in a partner with capital, get a loan from relatives or friends (the fastest way to lose both!) or to start very small and part-time and build gradually from retained profits. If you can demonstrate some success, capital will follow. Certainly enquire after grants but be prepared to fill in a lot of paperwork to get one.
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Mark Salmon Helping you to get all you can from all you've got in your business. http://businessrenegade.co.uk

Re : Where can I get funding for my new UK business?

Some useful information in this thread, nice to see a couple of expert opinions too

Re : Where can I get funding for my new UK business?

Hello,

I may be able to help, if you can wait a few months. I have recently launched a fund called the Entrepreneurs' Fund. Over the next year I will be filtering money from my company into the fund, and our aim is to invest this money into small businesses and entrepreneurs that desperately need the cash. Some of the money will be in non-repayable grants and some will be in generous loans.

The idea is to help businesses get through the recession and to offer them a lifeline, and we if all goes well we hope to offer the biggest grants in the UK by the end of the year!

Check out the 'Good Causes' page on our website http://www.websitetreasurehunt.com
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Re : Where can I get funding for my new UK business?

Forget funds. Start with family. Can they help you?

Try to exhaust all of the easier methods first. In my opinion, borrowing money is frankly only something you must do after all other alternatives have been concerned.
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Re : Where can I get funding for my new UK business?

I'm of the same general opinion: borrowing as the final option when all other avenues have been exhausted. I don't think anyone should ever be reliant on having success at borrowing to make a go of whatever it is they want to do - too risky!

Re : Where can I get funding for my new UK business?

We are getting alot of interest in invoice finance such as factoring and invoice finace. Invoice finance is like borrowing and involves a factoring business or invoice discounting company advancing you money against your invoices as soon as you issue them.

regards

Jeff Eow
www.factoringhelpline.co.uk

Re : Where can I get funding for my new UK business?

The best way to search your required field is to Google those keywords, which you are looking for.
So, most appropriate is told you.You can also business link adviser too...!

Re : Where can I get funding for my new UK business?

I recently wrote an article about funding for another site, and found there are several sites dedicated to funding which are very useful. I also discovered there are many routes to finance for businesses - it's just a matter of finding the ones that apply to your business. It can be quite confusing and will take some time, but here's a good place to start: http://www.startuprevolution.co.uk/resources/financial-support. There's also a links page here with links to funding websites.
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Paper Mountain Solutions - Delivering an extensive range of financial, administrative, sales and bespoke outsourcing solutions nationwide

Re : Where can I get funding for my new UK business?

Isn't invoice factoring more to do with those that are looking to release the money in their outstanding invoices rather than something to do with those looking for initial funding for their business?

Re : Where can I get funding for my new UK business?

Probably best to go to a bank to get some initial advice. From their, move to on to specialists that can advise accordingly...
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Re : Where can I get funding for my new UK business?

I am thinking of starting a new business.Really its very hard to get funding.
Hi Janehyde I visited your site good one.
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Re : Where can I get funding for my new UK business?

Hi
My company helps businessess. I would be glad to send you some information if you contact me. I do not want to blatantly advertise here.

Re : Where can I get funding for my new UK business?

Another new source that a new business should not forget to claim is the NIC Holiday Scheme which runs from 23rd June 2010 to 5th September 2013.

http://www.truemanbrown.co.uk/index.php?option=com_content&view=article&id=224 :new-businesses-have-you-taken-advantage-of-national-insurance-holiday&catid=46:blog&Itemid=185
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Re : Where can I get funding for my new UK business?

Oh, and don't start up in the south east - you don't get any of the benefits that encourage you to employ other people if you live there!