Business Start Up Funding

One of the biggest challenges for many people who are start-up in business is the finance to get going. Most people who I meet and coach manage to achieve this – initially at least – through their own resources and through the support of friends, family and contacts. It can be a very shrewd way to start and shows your own commitment to your business and usually bears no additional costs. It also shows potential investors – should you need them – that you are really serious: they’ll usually want to see that you have a venture that is up and running, tried and tested and shows promise and is going somewhere. That said there are some pots of money out there that are some small pots of funding that is available – if you do your homework. Here in the UK one of the schemes that has been around is the Start Up Loans Scheme. Initially aimed at those aged I believe 18-24 the scheme has now been extended to people of all ages.

So earlier this week I caught up with James Pattison of Start UP Direct to find out more about the scheme (see video above). Start Up Direct is the direct delivery partner for the government backed Start up Loans scheme. Providing; funding, mentoring and support to businesses based in England, Start up Direct has already provided £1.5M in funding to over 250 start up businesses.Every business that receives a loan also receives access to:

* 12 months worth of mentoring,

* workshops, networking events,

*a help line and the promotion of their products/services on our social media and newsletters.

If you are interested in applying or would simply like to find out more, please visit: http://startupdirect.org/apply/

Crowd Funding

One of the other new ways in which people are exploring and using to help start and grow a business is Crowd Funding. And mindful of that a while ago I asked funding expert Paul Grant of The Funding Game to explain what Crowd Funding is and some key tips and dos and don’ts. Paul, like myself is one of the expert partners of the British Library’s Business & IP Centre that helps those thinking about, starting and growing a business. Paul’s workshops are well worth attending if you are looking for funding to start or grow your business – and he helps you explore all the main options that are available including Business Angels and Crowd Funding.