I want to start a small business. Where do I go for funding when my bank won’t help?
Funding is very difficult at the moment. If your bank won’t help, you should talk to your local Business Link. Although Business Link has no funding itself, it can direct you to different sources of funding which will vary depending on where you’re based. Most Regional Development Agencies offer some sort of loan or grant finance through other organisations. Business Link will be able to direct you to these organisations. There is also some information on grants and raising finance on the Business Link website or in our Small Business Start up Funding section.
Whatever finance you want to raise, you will need a robust business plan. Funders will be keen to know how you are able to repay any loans. They will therefore want some evidence that you understand and can run a business. A business plan is designed to provide evidence of this as well as making a good business case for the products you are trying to sell.
SmallBusiness have produced a variety of ‘how to guides’ around business grants and government grants to help small businesses seek out funding.