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Home | Business | Business Sectors | Start up and Micro Business (1-10 employees) | Funding for Start-Ups

Funding for Start-Ups

Last updated: 25 November 2011 14:37 UK

There are a range of sources of finance that may help your business.  Below you will find a few specific funders for start-up companies and a link to Business Link content offering advice on raising and managing funds.

 

Business Link

There are a range of financing options when starting up and choosing the right ones for your needs is essential. You can use your own money, borrow from banks, family and friends or attract outside investors. Grants and government support may also be available.

Most businesses use a combination of these alternatives, according to their specific needs and circumstances.

This guide from Business Link looks at how to work out how much money you need, the best financing options for your business and their advantages and disadvantages.

For more information, visit Finding and managing the money on the Business Link website.

Fredericks Foundation

The Fredericks Foundation charity offers start up finance of up to £5000 for new businesses wishing to start in Hampshire, Surrey, Sussex or Berkshire.  They have a priority focus on individuals that fall into the following categories:

• financial hardship
• unemployed
• single parents
• ex-offenders
• disabled

For more information, visit Fredericks Foundation website or call 01276 472 722.

Princes Trust

The Princes Trust provides guidance and support to young people in the pre-start stage of business start up.  They also provide low cost funding and mentor support to those who are successful in their application to the Trust.  Applicants should be 18 - 30, unemployed (working 16 hours or less per week) and unable to obtain all their start up funding from alternative sources.

For more information, visit Princes Trust website or call 0800 842 842.

Small Firms Loan Guarantee

Some small to medium-sized enterprises are unable to obtain a conventional loan because they do not have assets to offer as security. The DTI's Small Firms Loan Guarantee helps to overcome this by providing lenders with a government guarantee against default in certain circumstances.

For more information and for details of participating lenders, visit Small Firms Loan Guarantee website.

The Royal British Legion

If you served in the UK Armed Forces and you're thinking of starting a small business in the UK, The Royal British Legion's Be the Boss scheme can help you get it off the ground.

You can apply for funding of up to £7,500, and if you get start-up funding you can also apply for funding to grow the business once you've been trading successfully for six months.

For more information visit The Royal British Legion's website or call their helpline on 0800 678 5787.