Funding the next step for your business: our expert guide in accessing finance - Go Succeed

Funding the next step for your business: our expert guide in accessing finance

April 26, 2024 | Blog | Finance

We all know the saying that ‘money makes the world go round’ and nowhere else does that ring more true than in business.

No matter what stage of life your company is at, no doubt your sights are set on growth, but that takes time – and money.

Raising finance is a crucial part of developing your business and can turn what was just an idea into a long-term business reality.

There are a huge number of sources that can help you raise capital. Here is our guide to some of the most common:

  • Grant funding: Your business or social enterprisemay be eligible to receive funding through a range of grants from the government or even charitable organisations. They are normally tied to a specific region, industry, or for a particular type of project but as long as you stick to the conditions, do not need to be paid back. If you’re already accessing the Go Succeed service you may be eligible to apply for a grant. Speak to your mentor about how you can do this.
  • Equity finance: You could raise capital from external investors in return for handing over a share of your business to, for example, a venture capital firm or an angel investor.
  • Crowdfunding: There is a myriad of crowdfunding platforms where you can showcase your business or idea to allow a number of people to invest, lend or contribute small amounts of money which is then combined to help you reach your funding goal.
  • Bank finance: Banks can offer short and long-term debt finance via loans and overdrafts as well as other types of finance. You can even apply for these to your high street bank and they usually involve a quick decision process.
  • Floatation: As they seek to scale, businesses can seek to become a ‘public company’ by floating on a stock market. This unlocks benefits beyond accessing capital including raised profile and motivating staff through the introduction of share option schemes.

Whichever funding route suits your business, the Go Succeed service is here to help you in that process – and is delivered totally free of charge.

Our experts can help you identify who the funders are, understand the current funding environment as well as the requirements of funders and how best to present your business for funding support.

Find out more by completing our webform or calling us on 0800 027 0639.