11 Answers
-
What line of business are you in?
-
Approach your bank and if its a bankable ideas you will get a finance provided you have good credit ratings.
-
You have various options open to you. There are plenty of resources avaliable to you from your local Chamber of Commerce. I would suggest approaching them for advice. Are you from the West Midlands? There is an organisation called Business Link that allocates funding under certain conditions to startups. Contact them.
I would also suggest that you find an accountant. -
Added to the above, the EMDA are starting a new series of business loans from £3,000 to £20,000 available to small business who cannot get funding from the usual sources (banks etc) in June 2008. They aim to help 1,000 businesses within the next 10 years, so that's worth a try. I think BusinessLink and The Chamber of Commerce are something to do with distributing it. I'm going for it, anyway!
-
It depends what level of funding you require and how robust your business plan. There are an array of start-up grants which may be available and, as already stated, if it's a solid proposition you may get bank finance. If you have fully utilised your own resources and collateral you may get a bank loan supported by the Small Firms Loan Guarantee Scheme (accessed through your bank). If you are prepared to give away equity and your plan shows strong growth, business angel finance may be the best route to go - often in conjunction with bank loans. There are several firms which can provide angel finance and they will usually help with the business plan.
-
I work for a company, Striding Out, which supports entrepreneurs to achieve their ambitions, by providing the right information, support and resources throughout the different stages of the business journey from start-up to growth. As an organisation we regularly undertake research to better understand the challenges and opportunities business owners face. We may able to help you.
Have a look on our web site: www.stridingout.co.uk or let me know about your interest. -
You might also like to have a look at my free legal and practical guide for those seeking funding. Sadly I cant attach it but you can get it from this site,
www.meetup.com/key-notes, then click on the files tab -
Almost without exception funding must come from insiders (yourself, friends and family) until you have some traction. If all you have is a name (and are shy of sharing the concept, even here) then you are way too early to be looking for outside investment. There is some money around for businesses as they get going, but it is a difficult process and requires great commitment from you.
-
We are a network of investors and entrepreneurs. I would be happy to see business plans from businesses or start-ups seeking funding.
-
There are many angel investment networks like Venture Giant, Angels Den etc. Try them out if you have your business plan ready.
-
Apart from grants you can get from the government, entrepreneurs definitively have to pitch their idea to investors, banks...
For that, evertyhing is about a good business plan, which you will get if you have done a good market research. Primary market research (opposite of secondary research) is essential as you won't get all the info you need from existing info.
Quantitative Market Research (surveys) is at last affordable to small budget thanks to Internet and that will give you proper figures on your precise project from your precise target market.
Have a look or feel free to ask me more information about it.
Good luck to all
Eric
Marketest
Share this question:
