For a small business seeking funding to grow, choosing a finance option may seem as complicated as obtaining the funding itself. The best way to ensure you’re getting the right type of funding is to be fully informed of different types of finance as well as the status of your business before making any major decisions.
In addition to traditional bank loans, there are a range of options for business finance available through the Government and private sectors, including:
Additionally, the Business Finance and Support Finder features resources that can help you with the questions to ask yourself to plan, prepare, and apply for the funding you need to grow. There are also steps on how to create a business plan, which is a key aspect of a successful financial application.
Business Finance for You is another source of helpful information on business finance. Business Finance for You brings together finance providers from angel investors to Government schemes and enables you to search for funding options based on your region, the lifestage your business is in, your business sector, the amount of funding you need, and/or the type of funding you’re interested in. The site also houses loads of case studies and resources to help explain the sources and types of funding available.
For more information about finances, visit gov.uk:
Financing Business Growth – Your Options
Business Finance Explained
Guides for Managing Cashflow
Find Grant and Support Schemes
ICAEW Small Business Finance Best Practice Guidelines
A Guide to Financial Management for SMEs
Better Business Finance TV