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How do I find funding for my nursery business?

I am looking for advice and help on how I can secure start up funding for my business.

I have a sound business plan and have done most of the ground work. I really am just needing funding to help me get off the ground.

Are there any grants etc that might be available to me?

Thanks

Hannah
 
Asked by HANNAH MOTLEY, January 2009   -  Contact this person

2 Answers

  1. Hi Hannah,

    The availabilty of grant funding for start ups differs from local authority to local authority, so it will very much depend on the location of your business. If you live in England (different countries within the UK have different organisations!), then your best port of call will be your local enterprise agency (you can find yours by looking on http://www.nfea.com/index.htm?page=find_lea.htm). They should be able to tell you what is available and how you can apply for it, etc. Alternatively, you could try the economic development department (or equivalent) at your local council.

    If you live elsewhere in the UK, feel free to drop me a line and I'll send you any links I have to organisations that may be able to help.

    Lee
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    Answered by Lee Longstaff, January 2009   -  Contact this person
  2. Hi Hannah,

    I guess I should qualify this response by saying that I'm assuming your 'nursery' is a childrens nursery, not a garden nursery!

    I have actually already helped set up (and part own) a very successful nursery from scratch. I approached 5 or 6 of the high street banks with a well prepared businss plan and got offers of funding from all but one of them. We finalised a deal with Barclays for a commercial mortgage and separate loan for capital equipment that we needed to buy and working capital requirements to get us off the ground. There were personal guarantees required, which you should expect regardless of which bank you end up with.

    We did successfully claim some grant funding, but in relation to the mortgage for the house etc, it was pretty small beer.

    Is the property you're looking for is freehold or leasehold? it wll obviously change the shape of the funding that you're looking for.

    Do you have a property in mind? In my experience it can take a long time to find the right size property, in the right location, with space for parking your staff, space for drop off/pickup's, in a town that isn't already well served by a nursery. But you probably know all that already.

    I'd be happy to help further so do feel free to drop me a line Hannah.

    Regards

    Chris
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    Answered by Chris Chapman, March 2009   -  Contact this person

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