Financing your business
Are you shaping a business idea, need financial support to get your business started, want to finance the purchase of new equipment or need to tackle a working capital need?
While the Council does not provide grants to business we can signpost you to a range of funding providers that may help you. Some of these can be found on the British Business Bank’s website. The British Business Bank is Government-owned and its aim is to help start-ups, as well as small and medium sized businesses, access finance to meets their needs.
The British Business Bank provides help and support for businesses to understand their financing options. Here you will also find links to a range of organisations that may want to invest in your business as well as useful information. These include the high street banks as well as organisations that you may not have heard of.
Start Up Loans
If you are looking for a start-up loan the government-backed www.startuploans.co.uk might be a good place to start. Here you will find information about repayment terms, interest rates and in addition, successful applicants are also eligible for 12 months free mentoring support. Loans can be from £500 to £25,000 (the average loan is £7,200).
Starting a Social Enterprise?
If you are looking for funding or a grant to start a social enterprise these tend to be provided by organisations that share the same agenda or interest as you. For example if your social enterprise is working with the arts, then the Arts Council may be a good place to start. If your social enterprise is targeting young people to get them into sport, then Sport England may provide support and guidance. There’s lots of information online. One site you may find useful is the School of Social Entrepreneurs. www.the-sse.org