At InvestSK, we know that all businesses need finance. You’ll be familiar with bank loans, overdrafts and credit cards, but the options available – and suitable – for your business may well fall outside of these more traditional forms of funding. Some types of funding are explained below:
A grant is financial assistance given by an organisation, such as a local authority or central government, to an eligible business or individual. While not readily available for all types of business or at every stage of a company’s growth, grants can be a really useful form of funding. Grants come in two main varieties: 100% funding for costs such as one-off projects (a large capital purchase or hiring a business strategy consultant, for example) or as part of match-funding where the grant can provide a percentage of the associated costs.
Grants are often provided to encourage businesses to take up more sustainable equipment or practices and manage resources more effectively, or to encourage innovation in certain sectors and stimulate the growth of SMEs. While the availability of grant funding is limited, we can offer you the best route to finding available schemes and put you in touch with relevant funding bodies. Some grants available include:
While we’re all familiar with bank-based overdrafts and loans, debt funding refers to far more than you might think. It includes start-up loans and revenue based funding, to asset-backed finance and hire purchase, there are a wealth of options available to fund specific projects and equipment, help with cash-flow or to expand and grow your business.
Instead of taking on debt, you could look to an investor to help fund your business growth. Unlike debt, equity finance can give your business the cash injection it needs without the burden of regular repayments, although that’s not to say it’s without risk or commitment. Whether it’s an early stage angel investor you’re after, or more established venture capital and private equity, contacts us for more information.
Crowdfunding works by accessing small amounts of money from a lot of individual investors which, when added together, equates to a large funding pool. This type of funding is usually accessed via an online portal which allows people to pitch their business idea and attract investment.
Like other forms of finance, crowdfunding can be in the form of equity or debt, but it can also take the form of donation or reward funding where the investor donates to a cause or business they believe in, or where they receive a reward for the investment – which is typically related to the product or service the company is offering. There are many well established crowdfunding platforms available and we will be happy to help your business find the right one.
For more information please contact Tom Hennessy on 01476 406177 or email Tom@investsk.co.uk
Here are some useful resources for questions you have on business rates and taxes
If you are looking to start up a business, we have put together some useful links below. If you can’t find the information you need please contact Tom on 01476 406176 or firstname.lastname@example.org
At InvestSK we understand that your organise is only as strong as your work force. South Kesteven can offer your business a motivated and enthusiastic talent pool. South Kesteven has a number of outstanding schools as well as four top class universities within 45 minutes.
The benefits of apprenticeships and traineeships make them an attractive venture for many businesses. Click here for an Employer’s Guide to Apprenticeships and Traineeships.
BEIS – The government’s Department for Business, Energy & Industrial Strategy has a range of online tools for businesses and useful information on subjects such as wages, employee leave and funding opportunities. For further information on how BEIS can help your business visit www.bis.gov.uk
For more information on recruitment and skills requirements please contact us at email@example.com