Want to start your own business? For many, the ideal model is never having to raise finances; the company can fund the initial start-up themselves and thereafter be sustained on the age-old practice of supply and demand. However the reality of launching a business, particularly those focussed on innovation, involves the need to fundraise – which is becoming more of an art than ever.
Crowdfunding, Angel Investors, Personal Capital and Business Loans are many of the ways to gather the funds needed to kickstart the next big business innovation. The big question usually is, which is best for me?
For context, Start Up Loans, part of the British Business Bank, recently announced that its programme has facilitated over 100,000 loans worth more than £941 million to businesses throughout the UK. The figure marks a significant milestone for the programme since its creation in 2012.
Of the total 100,228 loans, 40% have been to women and 20% to people from Black, Asian and Other Ethnic Minority backgrounds (not including White Minorities). Young people between 18-24 years old have received 14% of loans since 2012.
Historically, high growth SMEs have tended to want access to bank finance rather than equity finance to fund growth. With a desire for founders to retain autonomy in their business, what effect does this have on growth? What are the options open to these SMEs in the current economic climate?
The London West Innovation Network will provide an overview of the various opportunities and challenges in different funding sectors in an upcoming FREE workshop on Wednesday 19 April.
The workshop aims to help you understand the options available to you to decide how best to proceed and making the right choice for your business. This will be an interactive session where you will have the opportunity to learn from and interact with a panel of experts representing academia, Venture Capitalists, active Angel Networks in London. As well as explore the different kinds of flexible capital support available in the Banking sector.