Finance
Grants and loans and how to raise finance
One of the biggest problems facing new businesses and existing businesses undergoing growth is access to appropriate finance. Many innovative ideas never take off purely because the idea is not considered investment ready. That said 50% of small and medium sized enterprises succeed with no external funding. However, if a business seeks to expand and grow external finance can become essential.
At North London Ltd we do not issue any form of finance ourselves. We are placed to advise and guide you through the overall process of moving your business forward or starting up in North London where you may require funding as part of this process. We will be able to assist you in making you aware of what financial assistance is available and assisting with the formal administration through our ranges of professional contacts.
There are several grant schemes in operation that specifically target certain geographic areas - including North London. There are also a large and diverse number of national grants and awards available, all of which are aimed at specific areas or parts of a business with a very concise purpose of how they are to be of benefit.
The first piece of advise we can give is to investigate funding opportunities BEFORE you begin your project. Many funding shemes require you to demonstrate that the funding support is essential in order for the project to go ahead, so beginning your project first and then seeking funding support after shows the project will go ahead irresepctive of whether funding is secured.
GLE One London
GLE oneLondon provides a wide range of business support to people thinking of starting their own business and to these looking to grow their business. If you need loan finance to start or grow your business, and have not been successful in getting all you need from your bank, GLE oneLondon may be able to help you. Click here to visit there website with full information.
Please see this link for an LDA leaflet on SME finance.
Where to go for advice on what funding is right for you?
See your bank or a professional business advisor. We can put you in contact with local qualified advisors that may be to able to provide some free information guidance as to the best way to fund your business.
We also recommend doing some research into the different types of funding. The London Development Agency fund Company Guides, and they produce a comprehensive guide to the various types of funding and the merits of each. You can view this here for free.
Funding Search
There are a number of websites offering free and comprehensive grant and loan searches and are a very good starting point to see what is available and to make a prelimanary check of eligibility criteria. If you are in any doubt over the information you see contact the funding administrator.
Click here to see the national and free to search J4B Grants website.
