Choosing Finance
How do I raise finance to start or grow my business?
Businesses look for finance for a number of reasons: to turn an idea into a prototype, to establish and start a business, to grow a business, or to help in a time of stress or turnaround.
The resources below are a great first port of call, as they will help you understand your finance needs before you then look into specific options. We strongly recommend the Business Finance Guide by the Institute of Chartered Accountants (the first resource on this page) for this very reason.
Finance options
Know your finance options by reading the Business Finance Guide
from ICAEW (the Institute of Chartered Acccountants in England and Wales)
WHAT? Interactive visual overview of appropriate financing options with deep dives into considerations
WHEN? You need to understand what your finance options are and which one could best apply to your business
WHY? Learning the 16 different types of finance will help you make an informed decision
OTHER RESOURCES?
>> Check out the whole of The Business Finance Guide web pages
>> Listing of finance options from GOV.UK
Finance options for startups
Explore six ways to fund your startup
from Startups.
WHAT? Article analysing business loans, private equity, invoice financing/factoring, angel investors, enterprise finance guarantee and incubators. The Startups website also contains a great page on more basic low-level funding options: 10 ways to fund your business (without a bank loan).
WHEN? You are looking to fund your startup but not sure where to begin
WHY? Compare and contrast six popular sources of finance for small businesses
OTHER RESOURCES?
>> More useful articles on startup funding options from Startups
Finance case studies
Learn from others by reading case studies on all types of raising finance
from the British Business Bank
WHAT? Multiple case studies from startup and growing businesses across different sectors on how they’ve met their finance needs
WHEN? You think you have a good idea on which type of finance is right for you, but you’d like some other opinions
WHY? Sometimes we just need a couple of basic definitions to get going
Finance for launching a business
Finance-raising case study from the founder of Innocent Smoothies
from This is Money
WHAT? An article and interview with Innocent Smoothies founder Richard Reed containing lots of inspiriation and advice
WHEN? You've developed your business idea to the point where you think it is investable
WHY? You need insipiration on sourcing the funds to get your big idea off the ground
Finance directory
Find finance and support schemes for your business
from GOV.UK
WHAT? Searchable directory of equity, loan and grants from around the UK
WHEN? You know what type of funding you are looking for and need some leads
WHY? Makes finding public and third sector finance options quick and easy
Local finance support
Find support on what finance is available in your local area
from LEP Network
WHAT? Regional directory of the UK’s growth hubs that have access to staff over the phone and in person who can direct and guide you to local finance providers
WHEN? You’d like directing to local finance providers or local grants with someone you can speak to
WHY? Discussing your finance need with someone who knows your region could be advantageous
